Alerus Financial (NASDAQ: ALRS) EVP reports RSU vesting, new 9,058-unit award
Rhea-AI Filing Summary
Alerus Financial Corp EVP, CBO & CRO Jim Collins reported equity compensation changes involving restricted stock units and common shares. On February 26, 2026, 4,239 restricted stock units vested and converted into common stock, reflecting a 2023 performance-based grant certified at 112% of target. On the same date, Collins received a new grant of 9,058 restricted stock units, which includes both time-based and performance-based awards with vesting stretching to as late as March 15, 2029 depending on performance certification. To cover tax obligations upon vesting, 1,298 common shares were withheld at $25.45 per share. After these transactions, Collins directly held 16,108 common shares, plus an additional 725.3605 shares indirectly through the employee stock ownership program.
Positive
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Insights
Routine equity vesting and new RSU grant with tax withholding.
The transactions show Jim Collins converting 4,239 performance-based restricted stock units into common stock after the compensation committee certified a 112% payout on a 2023 grant. This is typical of performance awards tied to profitability metrics like total net income.
He also received 9,058 new restricted stock units, split between time-based and performance-based components, extending potential vesting through 2029. The 1,298-share disposition at $25.45 per share is explicitly for tax withholding, not an open-market sale, so market impact is limited.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 4,239 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 9,058 | $0.00 | -- |
| Exercise | Common Stock | 4,239 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,298 | $25.45 | $33K |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- On February 21, 2023, the reporting person was granted 3,784 performance-based restricted stock units, vesting upon Alerus Financial Corporation Compensation Committee certification of established total net income goals. The payout could be increased to 150% of target or reduced to 0% based on achievement of the applicable metric. The Alerus Financial Corporation Compensation Committee certified the payout at 112% and the performance-based restricted stock units vested on February 26, 2026. Restricted stock units convert into common stock on a one-for-one basis. Shares withheld upon vesting of restricted stock units for payment of tax liability. Reflects ESOP allocations that have occurred since the date of the reporting person's last ownership report. Includes 3,623 restricted stock units that have time-based vesting components. Includes 5,435 restricted stock units that have performance-based vesting components. The time-based restricted stock units vest on February 26, 2029. The performance-based restricted stock units vest upon Alerus Financial Corporation Compensation Committee certification of certain relative cumulative EPS and ROE performance period goals, provided that such certification date occurs no later than March 15, 2029. 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.
