Kari Koob - Feb 26, 2025 Form 4 Insider Report for ALERUS FINANCIAL CORP (ALRS)

Role
Director of Accounting
Signature
/s/ Nicholas Brenckman, by power of attorney
Stock symbol
ALRS
Transactions as of
Feb 26, 2025
Transactions value $
$0
Form type
4
Date filed
2/28/2025, 04:12 PM
Previous filing
Dec 3, 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 +921 $0.00 921 Feb 26, 2025 Common Stock 921 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 368 restricted stock units that have time-based vesting components. Includes 553 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.