Director Daniel Coughlin of Alerus (NASDAQ: ALRS) receives 1,772-share equity grant

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Coughlin Daniel E reported acquisition or exercise transactions in this Form 4 filing.

Alerus Financial Corp director Daniel E. Coughlin received 1,772 shares of common stock as a grant under the Alerus Financial Corporation 2019 Equity Incentive Plan. The award was an annual director grant with no cash purchase price.

After this grant, Coughlin holds 49,083 common shares directly, including 1,772 shares of restricted stock and 27,356 shares held jointly with his spouse. This reflects routine equity-based director compensation rather than an open-market share purchase or sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Coughlin Daniel E

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,772	$0.00	--

Holdings After Transaction: Common Stock — 49,083 shares (Direct, null)

Footnotes (1)

All shares were acquired pursuant to an annual director award issued under the Alerus Financial Corporation 2019 Equity Incentive Plan. Includes 1,772 shares of restricted stock. Includes 27,356 shares held jointly with Mr. Coughlin's spouse.

Key Figures

Director award shares: 1,772 shares Grant price: $0.0000 per share Total shares after grant: 49,083 shares +2 more

5 metrics

Director award shares 1,772 shares Annual director award of common stock

Grant price $0.0000 per share Equity award, no cash purchase price

Total shares after grant 49,083 shares Coughlin’s direct common stock holdings following the award

Restricted stock included 1,772 shares Portion of holdings designated as restricted stock

Jointly held shares 27,356 shares Shares held jointly with Coughlin’s spouse

Key Terms

restricted stock, annual director award, 2019 Equity Incentive Plan, Form 4

4 terms

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.

annual director award financial

"All shares were acquired pursuant to an annual director award issued under the Alerus Financial Corporation 2019 Equity Incentive Plan."

2019 Equity Incentive Plan financial

"issued under the Alerus Financial Corporation 2019 Equity Incentive Plan."

Form 4 regulatory

"INSIDER FILING DATA (Form 4):"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Form 4 Insider Transactions: What Each Field Means →

05/27/2026 - 04:17 PM

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^*

Coughlin Daniel E

(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)
05/22/2026

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	05/22/2026		A		1,772⁽¹⁾⁽²⁾	A	$0	49,083⁽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)
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. All shares were acquired pursuant to an annual director award issued under the Alerus Financial Corporation 2019 Equity Incentive Plan.

2. Includes 1,772 shares of restricted stock.

3. Includes 27,356 shares held jointly with Mr. Coughlin's spouse.

	/s/ Nicholas Brenckman, by power of attorney	05/27/2026
	** 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

FAQ

What insider transaction did ALRS director Daniel E. Coughlin report?

Director Daniel E. Coughlin reported receiving 1,772 shares of Alerus Financial Corp common stock as an annual director award. The shares were granted under the 2019 Equity Incentive Plan and did not involve a cash purchase in the market.

Was the ALRS Form 4 transaction a market purchase or sale?

The Form 4 transaction was not a market purchase or sale. It was a grant of 1,772 common shares as part of an annual director equity award, issued at no cash cost under Alerus Financial’s 2019 Equity Incentive Plan.

How many ALRS shares does Daniel E. Coughlin hold after this grant?

After the grant, Daniel E. Coughlin directly holds 49,083 Alerus Financial common shares. This total includes 1,772 shares of restricted stock and 27,356 shares that are held jointly with his spouse, as disclosed in the filing footnotes.

What plan was used for the ALRS director stock award to Coughlin?

The stock award was issued under the Alerus Financial Corporation 2019 Equity Incentive Plan. This plan provides equity-based compensation, and the reported 1,772-share grant represents Coughlin’s annual director award rather than an open-market transaction.

Does the ALRS Form 4 indicate any derivative securities for Coughlin?

The Form 4 does not show any derivative security positions for Coughlin. The reported activity involves only non-derivative common stock, specifically an award of 1,772 shares and updated total direct holdings of 49,083 common shares.