Form 4 for ALRS ALERUS FINANCIAL CORP
Accepted 2024-02-29 00:00:00 ET · period of report 2024-02-27 · accession 0001104659-24-029366 · 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 | Keney Missy | EVP, Chief Engagement Off | M - OptEx | $0.00 | +504 | 6,896 | +8% | $0 |
| D | 2024-02-29 | 2024-02-27 | ALRS | Keney Missy | EVP, Chief Engagement Off | A - Grant | $0.00 | +4,375 | 4,375 | New | $0 |
| D | 2024-02-29 | 2024-02-27 | ALRS | Keney Missy | EVP, Chief Engagement Off | M - OptEx | $0.00 | -504 | 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 | 504 | $0.00 | 6,896 | D | — | — | (F1) On February 17, 2021, Ms. Keney was granted 336 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 3,738 shares held jointly with Ms. Keney's spouse. |
| 2 | Derivative | Restricted Stock Units | 2024-02-27 | A | A | 4,375 | $0.00 | 4,375 | D | — · — to — | 4,375 Common Stock | (F6) Includes 1,750 restricted stock units that have time-based vesting components. Includes 2,625 restricted stock units that have performance-based vesting components. (F2) Restricted stock units convert into common stock on a one-for-one basis. (F7) 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. |
| 3 | Derivative | Restricted Stock Units | 2024-02-27 | M | D | 504 | $0.00 | 0 | D | — · — to — | 504 Common Stock | (F2) Restricted stock units convert into common stock on a one-for-one basis. (F1) On February 17, 2021, Ms. Keney was granted 336 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. |