Forrest Wilson - 26 Feb 2025 Form 4 Insider Report for ALERUS FINANCIAL CORP (ALRS)

Role
EVP & Chief Ret. Svcs. Officer
Signature
/s/ Nicholas Brenckman, by power of attorney
Issuer symbol
ALRS
Transactions as of
26 Feb 2025
Net transactions value
$0
Form type
4
Filing time
28 Feb 2025, 16:15:16 UTC
Previous filing
26 Feb 2024
Next filing
05 May 2025
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 +7,558 $0.000000 7,558 26 Feb 2025 Common Stock 7,558 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 3,023 restricted stock units that have time-based vesting components. Includes 4,535 restricted stock units that have performance-based vesting components.
F3 The time-based restricted stock units vest on February 26, 2028. The performance-based restricted stock units vest no later than March 15, 2028, so long as Alerus Financial Corporation meets certain cumulative EPS and ROE goals. The payout for performance-based restricted stock units could be increased to 150% of target or reduced to 0% based on achievement of the applicable metrics.