0001104659-24-029370.txt : 20240229 0001104659-24-029370.hdr.sgml : 20240229 20240229161159 ACCESSION NUMBER: 0001104659-24-029370 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: Villalon Alan CENTRAL INDEX KEY: 0001909920 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-39036 FILM NUMBER: 24703735 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 tm245214-23_4seq1.xml OWNERSHIP DOCUMENT X0508 4 2024-02-27 0 0000903419 ALERUS FINANCIAL CORP ALRS 0001909920 Villalon Alan 401 DEMERS AVENUE GRAND FORKS ND 58201 0 1 0 0 Chief Financial Officer 0 Restricted Stock Units 2024-02-27 4 A 0 6319 0.00 A Common Stock 6319 6319 D Restricted stock units convert into common stock on a one-for-one basis. Includes 2,528 restricted stock units that have time-based vesting components. Includes 3,791 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