Alerus SVP uses shares to pay tax on vesting

Alerus Financial Corp SVP and Controller Kari Koob reported routine share activity related to restricted stock vesting.

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Form Type

Rhea-AI Filing Summary

Alerus Financial Corp SVP and Controller Kari Koob reported routine share activity related to restricted stock vesting. On the reported date, 140 shares of common stock were withheld at $31.10 per share to cover tax liabilities arising from the vesting of restricted stock, rather than being sold in the open market. After this tax-withholding disposition, Koob directly held 1,202.246 shares of common stock, which include 660 shares of restricted stock. Separately, Koob had 493.6779 shares held indirectly through the Alerus Financial Corporation Employee Stock Ownership Plan, reflecting allocations since the prior ownership report.

Insider Trade Summary

Exercise Price or Tax Liability: 140 shares

Exercise Price or Tax Liability 2 txns

Insider Koob Kari

Role SVP, Controller

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	140	$31.10	$4K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 1,202.246 shares (Direct); Common Stock — 493.6779 shares (Indirect, By the Alerus Financial Corporation Employee Stock Ownership Plan)

Footnotes (3)

F1. Shares withheld upon vesting of restricted stock for payment of tax liability.
F2. Includes 660 shares of restricted stock.
F3. Reflects ESOP allocations that have occurred since the date of the reporting person's last ownership report.

Key Figures

Tax-withholding shares: 140 shares Withholding price: $31.10 per share Direct holdings after transaction: 1,202.246 shares +2 more

5 metrics

Tax-withholding shares 140 shares Shares withheld to cover tax liability on restricted stock vesting

Withholding price $31.10 per share Value used for tax-withholding disposition of 140 shares

Direct holdings after transaction 1,202.246 shares Direct common stock owned following tax-withholding event

Restricted stock included 660 shares Restricted stock included within direct holdings after transaction

Indirect ESOP holdings 493.6779 shares Common stock held via Alerus Employee Stock Ownership Plan

Key Terms

restricted stock, Employee Stock Ownership Plan, tax liability

3 terms

restricted stock financial

"Includes 660 shares of restricted stock."

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

Employee Stock Ownership Plan financial

"By the Alerus Financial Corporation Employee Stock Ownership Plan"

An employee stock ownership plan (ESOP) is a company-run program that gives workers ownership stakes by allocating or letting them buy company shares, often through a retirement-style account. For investors, ESOPs matter because they align employees’ incentives with company performance—like turning staff into shareholders—which can boost productivity and long-term value but may also concentrate employee retirement savings in company stock, affecting financial risk and share demand.

tax liability financial

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

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Alerus Financial (ALRS) executive Kari Koob report in this Form 4?

Kari Koob reported a routine tax-withholding disposition of 140 Alerus Financial common shares tied to restricted stock vesting. The shares were delivered to cover tax liabilities, not sold on the open market, and updated direct and indirect ownership balances were disclosed.

How many Alerus Financial (ALRS) shares were used to pay taxes by Kari Koob?

Kari Koob had 140 Alerus Financial common shares withheld to satisfy tax obligations from restricted stock vesting. The shares were valued at $31.10 each for this purpose, according to the Form 4 and accompanying footnote describing the tax-related share delivery.

What are Kari Koob’s direct Alerus Financial (ALRS) holdings after this Form 4 event?

Following the tax-withholding disposition, Kari Koob directly held 1,202.246 Alerus Financial common shares. A footnote specifies that this direct position includes 660 shares of restricted stock, reflecting both vested and unvested equity compensation reported in the filing.

What indirect Alerus Financial (ALRS) holdings does Kari Koob report?

Kari Koob reports 493.6779 Alerus Financial common shares held indirectly through the company’s Employee Stock Ownership Plan. A footnote states this balance reflects ESOP allocations that have occurred since Koob’s last ownership report, updating the indirect ownership position.

Was the Alerus Financial (ALRS) Form 4 transaction an open-market sale?

The Form 4 characterizes the key transaction as a tax-withholding disposition, not an open-market sale. Shares were withheld upon vesting of restricted stock to pay tax liabilities, consistent with the transaction code F and the explanatory footnote in the filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/01/2026 - 04:08 PM EDT

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^*

Koob Kari

(Last)

(First)

(Middle)

401 DEMERS AVENUE

(Street)

GRAND FORKS

NORTH DAKOTA

58201

(City)

(State)

(Zip)

UNITED STATES

(Country)

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)
	SVP, Controller

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	07/01/2026		F		140⁽¹⁾	D	$31.1	1,202.246⁽²⁾	D
Common Stock								493.6779⁽³⁾	I	By the Alerus Financial Corporation Employee Stock Ownership Plan

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

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

2. Includes 660 shares of restricted stock.

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

	/s/ Nicholas Brenckman, by power of attorney	07/01/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR