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