EVP and COO Taylor Karin M covered exercise/tax liability with 504 shares and converted options into 1,400 shares, increasing direct ownership by 4% to 24,756 units (SEC Form 4)
$ALRS
Major Banks
Finance
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
| Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10. | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
ALERUS FINANCIAL CORP [ ALRS ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 02/03/2025 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock | 02/03/2025 | M | 1,326(1) | A | (2) | 25,186(3) | D | |||
| Common Stock | 02/03/2025 | M | 74(4) | A | (2) | 25,260(3) | D | |||
| Common Stock | 02/03/2025 | F | 504(5) | D | $21.14 | 24,756(3) | D | |||
| Common Stock | 1,587.4912(6) | I | By the Alerus Financial Corporation Employee Stock Ownership Plan | |||||||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Restricted Stock Units | (2) | 02/03/2025 | M | 1,326 | (1) | (1) | Common Stock | 1,326 | $0 | 1,989 | D | ||||
| Restricted Stock Units | (2) | 07/03/2025 | M | 74 | (4) | (4) | Common Stock | 74 | $0 | 110 | D | ||||
| Explanation of Responses: |
| 1. On February 3, 2022, the reporting person was granted 3,315 restricted stock units, including 1,326 restricted stock units vesting on February 3, 2025, and 1,989 restricted stock units with performance-based vesting components. |
| 2. Each restricted stock unit represents a contingent right to receive one share of Alerus Financial Corporation common stock. |
| 3. Includes 3,012 shares of restricted stock. |
| 4. On July 3, 2022, the reporting person was granted 184 restricted stock units, including 74 restricted stock units vesting on February 3, 2025, and 110 restricted stock units with performance-based vesting components. |
| 5. Shares withheld upon vesting of restricted stock for payment of tax liability. |
| 6. Reflects ESOP allocations that have occurred since the date of the reporting person's last ownership report. |
| /s/ Nicholas Brenckman, by power of attorney | 02/05/2025 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||