0001104659-24-029364.txt : 20240229
0001104659-24-029364.hdr.sgml : 20240229
20240229160928
ACCESSION NUMBER: 0001104659-24-029364
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240227
FILED AS OF DATE: 20240229
DATE AS OF CHANGE: 20240229
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Taylor Karin M
CENTRAL INDEX KEY: 0001786851
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-39036
FILM NUMBER: 24703668
MAIL ADDRESS:
STREET 1: 401 DEMERS AVENUE
CITY: GRAND FORKS
STATE: ND
ZIP: 58201
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: ALERUS FINANCIAL CORP
CENTRAL INDEX KEY: 0000903419
STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021]
ORGANIZATION NAME: 02 Finance
IRS NUMBER: 450375407
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 401 DEMERS AVE
CITY: GRAND FORKS
STATE: ND
ZIP: 58201
BUSINESS PHONE: 7017953200
MAIL ADDRESS:
STREET 1: PO BOX 6001
STREET 2: 401 DEMERS AVE
CITY: GRAND FORKS
STATE: ND
ZIP: 58206-6001
FORMER COMPANY:
FORMER CONFORMED NAME: FIRST NATIONAL CORP NORTH DAKOTA
DATE OF NAME CHANGE: 19980312
4
1
tm245214-26_4seq1.xml
OWNERSHIP DOCUMENT
X0508
4
2024-02-27
0
0000903419
ALERUS FINANCIAL CORP
ALRS
0001786851
Taylor Karin M
401 DEMERS AVENUE
GRAND FORKS
ND
58201
0
1
0
0
EVP and Chief Risk Officer
0
Common Stock
2024-02-27
4
M
0
2648
0
A
24811
D
Common Stock
2024-02-27
4
F
0
951
21.84
D
23860
D
Common Stock
1251.2500
I
By the Alerus Financial Corporation Employee Stock Ownership Plan
Restricted Stock Units
2024-02-27
4
M
0
2648
0.00
D
Common Stock
2648
0
D
Restricted Stock Units
2024-02-27
4
A
0
6923
0.00
A
Common Stock
6923
6923
D
On February 17, 2021, Ms. Taylor was granted 1,765 performance-based restricted stock units, vesting no later than March 15, 2024, so long as Alerus Financial Corporation meets certain cumulative net income goals.The payout could be increased to 150% and the performance-based restricted stock units vested of target or reduced to 0% based on achievement of the applicable metrics. The Alerus Financial Corporation Compensation Committee certified the payout at 150% on February 27, 2024.
Restricted stock units convert into common stock on a one-for-one basis.
Includes 6,024 shares of restricted stock.
Shares withheld upon vesting of restricted stock units for payment of tax liability.
Includes 2,769 restricted stock units that have time-based vesting components. Includes 4,154 restricted stock units that have performance-based vesting components.
The time-based restricted stock units vest on February 27, 2027. The performance-based restricted stock units vest no later than March 15, 2027, 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.
/s/ Nicholas Brenckman, by power of attorney
2024-02-29