Form 4 for ALRS ALERUS FINANCIAL CORP
Accepted 2024-02-29 00:00:00 ET · period of report 2024-02-27 · accession 0001104659-24-029367 · 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 | Lorenson Katie A | Pres, CEO, Dir | M - OptEx | $0.00 | +3,234 | 43.5K | +8% | $0 |
| D | 2024-02-29 | 2024-02-27 | ALRS | Lorenson Katie A | Pres, CEO, Dir | A - Grant | $0.00 | +16.5K | 16.5K | New | $0 |
| D | 2024-02-29 | 2024-02-27 | ALRS | Lorenson Katie A | Pres, CEO, Dir | M - OptEx | $0.00 | -3,234 | 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 | 3,234 | $0.00 | 43,507 | D | — | — | (F1) On February 17, 2021, Ms. Lorenson was granted 2,156 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. (F2) Restricted stock units convert into common stock on a one-for-one basis. (F3) Includes 3,263 shares of restricted stock. Includes 10,626 shares held jointly with Ms. Lorenson's spouse. |
| 2 | Derivative | Restricted Stock Units | 2024-02-27 | A | A | 16,484 | $0.00 | 16,484 | D | — · — to — | 16,484 Common Stock | (F4) Includes 6,594 restricted stock units that have time-based vesting components. Includes 9,890 restricted stock units that have performance-based vesting components. (F2) Restricted stock units convert into common stock on a one-for-one basis. (F5) 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 | 3,234 | $0.00 | 0 | D | — · — to — | 3,234 Common Stock | (F2) Restricted stock units convert into common stock on a one-for-one basis. (F1) On February 17, 2021, Ms. Lorenson was granted 2,156 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. |