Executive at Alerus (NASDAQ: ALRS) corrects tax withholding to 772 shares

Rhea-AI Filing Summary

Alerus Financial Corp executive Jim Collins reported a tax-related share withholding. On the vesting of restricted stock units, 772 shares of common stock were withheld at $25.45 per share to cover tax liabilities, leaving him with 13,167 directly held shares.

This amended report corrects an earlier disclosure that had incorrectly stated 917 shares were withheld, clarifying the actual number of shares used to satisfy the tax obligation tied to his equity compensation.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Collins Jim

Role EVP, CBO & CRO

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	772	$25.45	$20K

Holdings After Transaction: Common Stock — 13,167 shares (Direct)

Footnotes (1)

1. Shares withheld upon vesting of restricted stock units for payment of tax liability. The Form 4, as originally filed, incorrectly reported 917 shares withheld upon the vesting of restricted stock for the payment of tax liabilities. The total number of shares actually withheld was 772.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Collins Jim

(Last) (First) (Middle)

401 DEMERS AVENUE

(Street)

GRAND FORKS ND 58201

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ALERUS FINANCIAL CORP [ ALRS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, CBO & CRO

3. Date of Earliest Transaction (Month/Day/Year)
02/23/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)
02/24/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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	02/23/2026		F		772(1)(2)	D	$25.45	13,167(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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

Explanation of Responses:

1. Shares withheld upon vesting of restricted stock units for payment of tax liability.

2. The Form 4, as originally filed, incorrectly reported 917 shares withheld upon the vesting of restricted stock for the payment of tax liabilities. The total number of shares actually withheld was 772.

	/s/ Nicholas Brenckman, by power of attorney	03/02/2026
	** 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.

FAQ

What insider transaction did ALRS executive Jim Collins report?

Jim Collins reported a tax-related share withholding, where 772 Alerus Financial Corp shares were withheld upon vesting of restricted stock units to cover tax liabilities. This was a non-market, tax-withholding disposition linked to his equity compensation rather than an open-market sale.

How many ALRS shares were withheld for Jim Collins’ tax liability?

A total of 772 ALRS common shares were withheld to satisfy Jim Collins’ tax liability on vested restricted stock units. The amended disclosure corrects an earlier report that mistakenly stated 917 shares, clarifying the exact number tied to this compensation event.

What price per share was used for the ALRS tax-withholding disposition?

The tax-withholding disposition used a price of $25.45 per ALRS common share. This value was applied to 772 withheld shares connected to restricted stock unit vesting, determining the amount of equity used to cover the executive’s tax obligations on the award.

How many ALRS shares does Jim Collins hold after this transaction?

After the tax-withholding event, Jim Collins directly holds 13,167 ALRS common shares. This figure reflects his remaining equity position following the withholding of 772 shares for tax purposes associated with the vesting of restricted stock units granted as compensation.

Why was this ALRS Form 4/A characterized as an amendment?

It is an amendment because the original report overstated withheld shares as 917 instead of 772. The corrected filing updates the actual number of shares used for tax withholding on vested restricted stock units, ensuring accurate disclosure of this compensation-related disposition.