Form 4 for ALRS ALERUS FINANCIAL CORP
Accepted 2024-02-29 00:00:00 ET · period of report 2024-02-27 · accession 0001104659-24-029363 · 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 | Newman Randy L | Dir | M - OptEx | $0.00 | +13.3K | 205.6K | +7% | $0 |
| D | 2024-02-29 | 2024-02-27 | ALRS | Newman Randy L | Dir | M - OptEx | $0.00 | -13.3K | 0 | -100% | $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 | M | A | 13,251 | $0.00 | 205,572 | D | — | — | (F1) On February 17, 2021, Mr. Newman was granted 8,834 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) Total holdings have been adjusted to reflect an inadvertent error in prior Forms 4. (F4) Includes 1,814 shares held jointly with Mr. Newman's spouse. |
| 2 | Derivative | Restricted Stock Units | 2024-02-27 | M | D | 13,251 | $0.00 | 0 | D | — · — to — | 13,251 Common Stock | (F2) Restricted stock units convert into common stock on a one-for-one basis. (F1) On February 17, 2021, Mr. Newman was granted 8,834 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. |