ALERUS FINANCIAL CORP — Director's Dealing 2023

May 15, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALERUS FINANCIAL CORP (ALRS)
CIK: 0000903419
Period of Report: 2023-05-08

Reporting Person: Newman Randy L (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-05-08	Common Stock	A	2589	$0.00	Acquired	524183	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	168905	Indirect
Common Stock	94388.9580	Indirect

Footnotes

F1: All shares were acquired pursuant to an annual director award issued under the Alerus Financial Corporation 2019 Equity Incentive Plan

F2: Includes 11,294 shares of restricted stock

F3: Reflects ESOP allocations that have occurred since the date of the reporting person's last ownership report.