ALERUS FINANCIAL CORP — Director's Dealing 2021

Mar 16, 2021

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: ALERUS FINANCIAL CORP (ALRS)
CIK: 0000903419
Period of Report: 2020-12-31

Reporting Person: Lemke Kevin D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-09-17	Common Stock	G	200	$0.00	Disposed	75459	Direct
2019-09-19	Common Stock	G	800	$0.00	Disposed	74659	Direct
2020-11-24	Common Stock	W	2643	$0.00	Acquired	79416	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	19000	Indirect

Footnotes

F1: Indicates the total number of shares of common stock owned directly by Mr. Lemke as of September 17, 2019.

F2: Indicates the total number of shares of common stock owned directly by Mr. Lemke as of September 19, 2019.

F3: Indicates the total number of shares of common stock owned directly by Mr. Lemke as of December 31, 2020.

F4: Mr. Lemke filed a Form 4 on June 1, 2020 reporting the acquisition of 2,144 shares of common stock acquired pursuant to an annual director award issued under the Alerus Financial Corporation 2019 Equity Incentive Plan. The number of shares of common stock that were actually acquired was 2,114 shares, which was noted in the footnote to column 4 of the Form 4.

F5: 19,000 shares of common stock are held by Mr. Lemke as trustee of the Doreen D. Lemke Testamentary Family Trust. Mr. Lemke possesses sole voting and investment power with respect to these shares.