Form 4 for ALRS ALERUS FINANCIAL CORP
Accepted 2024-02-29 00:00:00 ET · period of report 2024-02-27 · accession 0001104659-24-029362 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2024-02-29 | 2024-02-27 | ALRS | Hendry Jon | CTO, EVP | F - Tax | $21.84 | -724 | 52.5K | -1% | -$15.8K |
| D | 2024-02-29 | 2024-02-27 | ALRS | Hendry Jon | CTO, EVP | M - OptEx | $0.00 | +2,298 | 53.2K | +5% | $0 |
| D | 2024-02-29 | 2024-02-27 | ALRS | Hendry Jon | CTO, EVP | M - OptEx | $0.00 | -2,298 | 0 | -100% | $0 |
| D | 2024-02-29 | 2024-02-27 | ALRS | Hendry Jon | CTO, EVP | A - Grant | $0.00 | +4,728 | 4,728 | New | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2024-02-27 | F | D | 724 | $21.84 | 52,468 | D | — | — | (F4) Shares withheld upon vesting of restricted stock units for payment of tax liability. (F3) Includes 46,398 shares held jointly with Mr. Hendry's spouse. |
| 2 | Common | Common stock | 2024-02-27 | M | A | 2,298 | $0.00 | 53,192 | D | — | — | (F1) On February 17, 2021, Mr. Hendry was granted 1,532 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% of target or reduced to 0% based on achievement of the applicable metrics. The Alerus Financial Corporation Compensation Committee certified the payout at 150% and the performance-based restricted stock units vested on February 27, 2024. (F2) Restricted stock units convert into common stock on a one-for-one basis. (F3) Includes 46,398 shares held jointly with Mr. Hendry's spouse. |
| 3 | Derivative | Restricted Stock Units | 2024-02-27 | M | D | 2,298 | $0.00 | 0 | D | — · — to — | 2,298 Common Stock | (F1) On February 17, 2021, Mr. Hendry was granted 1,532 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% of target or reduced to 0% based on achievement of the applicable metrics. The Alerus Financial Corporation Compensation Committee certified the payout at 150% and the performance-based restricted stock units vested on February 27, 2024. (F2) Restricted stock units convert into common stock on a one-for-one basis. |
| 4 | Derivative | Restricted Stock Units | 2024-02-27 | A | A | 4,728 | $0.00 | 4,728 | D | — · — to — | 4,728 Common Stock | (F5) Includes 1,891 restricted stock units that have time-based vesting components. Includes 2,837 restricted stock units that have performance-based vesting components. (F2) Restricted stock units convert into common stock on a one-for-one basis. (F6) 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. |