Alerus (ALRS) director Bolton adds 1,000 shares in open-market buy

Rhea-AI Filing Summary

Alerus Financial Corp director Jeffrey Bolton completed an open-market purchase of 1,000 shares of common stock at $28.715 per share. After this transaction, he directly or jointly owns a total of 14,163 shares, including shares held with his spouse and shares of restricted stock.

Insider Trade Summary

Net Buyer: 1,000 shares ($28,715)

Net Buy 1 txn

Insider Bolton Jeffrey

Role null

Bought 1,000 shs ($29K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	1,000	$28.715	$29K

Holdings After Transaction: Common Stock — 14,163 shares (Direct, null)

Footnotes (1)

1. Includes 1,000 shares held jointly with Mr. Bolton's spouse. Includes 1,772 shares of restricted stock. Includes 3,567 shares held jointly with Mr. Bolton's spouse.

Key Figures

Shares purchased: 1,000 shares Purchase price: $28.715 per share Total holdings after trade: 14,163 shares +3 more

6 metrics

Shares purchased 1,000 shares Open-market common stock purchase on 2026-05-27

Purchase price $28.715 per share Price paid for ALRS common stock

Total holdings after trade 14,163 shares Common stock beneficially owned following transaction

Net buy shares 1,000 shares Net shares bought across all reported transactions

Restricted stock included 1,772 shares Restricted stock counted in total holdings

Jointly held shares (example) 3,567 shares Shares held jointly with spouse as noted in footnote

Key Terms

open-market purchase, Common Stock, restricted stock, beneficial ownership

4 terms

open-market purchase financial

"transaction_action: open-market purchase"

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

Common Stock financial

"security_title: Common Stock"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

restricted stock financial

"Includes 1,772 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.

beneficial ownership financial

"Includes shares held jointly with Mr. Bolton's spouse."

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

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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^*

Bolton Jeffrey

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/27/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/27/2026		P		1,000(1)	A	$28.715	14,163(2)(3)	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. Includes 1,000 shares held jointly with Mr. Bolton's spouse.

2. Includes 1,772 shares of restricted stock.

3. Includes 3,567 shares held jointly with Mr. Bolton's spouse.

	/s/ Nicholas Brenckman, by power of attorney	05/29/2026
	** 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)

FAQ

What did Alerus Financial (ALRS) director Jeffrey Bolton do in this Form 4?

Director Jeffrey Bolton bought 1,000 shares of Alerus Financial common stock in an open-market transaction. The filing shows this purchase and updates his total direct and joint holdings following the transaction, as required under insider reporting rules for company directors.

How many ALRS shares did Jeffrey Bolton buy and at what price?

Jeffrey Bolton purchased 1,000 shares of Alerus Financial common stock at a price of $28.715 per share. This was reported as an open-market purchase, meaning the shares were acquired through normal trading rather than as a stock grant or option exercise.

What is Jeffrey Bolton’s total Alerus (ALRS) shareholding after this transaction?

After the reported purchase, Jeffrey Bolton holds a total of 14,163 Alerus Financial shares. This total includes shares he owns directly, shares held jointly with his spouse, and 1,772 shares identified in the filing as restricted stock subject to vesting conditions.

Does the Form 4 for ALRS mention any joint holdings for Jeffrey Bolton?

Yes. The footnotes state that Bolton’s reported holdings include shares held jointly with his spouse. One note references 1,000 jointly held shares, and another references 3,567 jointly held shares, both counted within his total 14,163-share position after the purchase.

Are restricted shares included in Jeffrey Bolton’s ALRS holdings?

Yes. The Form 4 notes that Bolton’s total includes 1,772 shares of restricted stock. Restricted stock typically vests over time or upon meeting conditions, but it is still counted in his beneficial ownership total reported in the filing after the purchase.

Were there any stock option exercises or derivative trades in this ALRS Form 4?

No. The filing shows only a non-derivative open-market purchase of common stock. The derivative summary section is empty, indicating there were no option exercises, warrant conversions, or other derivative security transactions reported for this date in the Form 4.