Jon Hendry - 31 Dec 2023 Form 5 Insider Report for ALERUS FINANCIAL CORP (ALRS)

Role
Chief Technology Officer & EVP
Signature
/s/ Nicholas Brenckman, by power of attorney
Issuer symbol
ALRS
Transactions as of
31 Dec 2023
Net transactions value
$0
Form type
5
Filing time
08 Feb 2024, 16:04:47 UTC
Previous filing
22 Feb 2023
Next filing
20 Feb 2024
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ALRS Restricted Stock Units Award $0 +4,180 $0.000000 4,180 21 Feb 2023 Common Stock 4,180 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of Alerus Financial Corporation common stock.
F2 Includes 1,672 restricted stock units that have time-based vesting components. Includes 2,508 restricted stock units that have performance-based vesting components.
F3 The time-based restricted stock units vest on February 21, 2026. The performance-based restricted stock units vest on February 21, 2026, so long as Alerus Financial Corporation meets certain total stockholder return goals.

Remarks:

Exhibit 24 - Power of Attorney.