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ALERUS FINANCIAL CORP — Director's Dealing 2024
Feb 29, 2024
32725_dirs_2024-02-29_d15acf91-0232-411e-a402-c9abb4b1f2b8.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: ALERUS FINANCIAL CORP (ALRS)
CIK: 0000903419
Period of Report: 2024-02-27
Reporting Person: Hendry Jon (Chief Technology Officer & EVP)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2024-02-27 | Common stock | M | 2298 | — | Acquired | 53192 | Direct |
| 2024-02-27 | Common Stock | F | 724 | $21.84 | Disposed | 52468 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2024-02-27 | Restricted Stock Units | $ | M | 2298 | Disposed | Common Stock (2298) | Direct | |
| 2024-02-27 | Restricted Stock Units | $ | A | 4728 | Acquired | Common Stock (4728) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 3000 | Indirect |
| Common Stock | 21663.3500 | Indirect |
Footnotes
F1: On February 17, 2021, Mr. Hendry was granted 1,532 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 46,398 shares held jointly with Mr. Hendry's spouse.
F4: Shares withheld upon vesting of restricted stock units for payment of tax liability.
F5: Includes 1,891 restricted stock units that have time-based vesting components. Includes 2,837 restricted stock units that have performance-based vesting components.
F6: 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.