Alerus Financial director gifts 89,923 shares

Separate indirect holdings are listed through two trusts, with Randy L. Newman holding sole voting and investment power over the 2021 GST Trust shares.

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Form Type

Rhea-AI Filing Summary

Alerus Financial Corp. (ALRS) director Randy L. Newman gifted 89,923 shares of common stock to his spouse on September 22, 2026. His reported directly held position after the gift was 219,963 shares. The spouse’s reported position was 91,923 shares as of October 21, 2026, including the gifted shares. No Rule 10b5-1 plan is reported.

Insider Trade Summary

89,923 shares gifted

Gift 4 txns

Insider Newman Randy L

Role Director

Type	Security	Shares	Price	Value
holding	Common Stock ^F4	--	--	--
holding	Common Stock ^F5	--	--	--
holding	Common Stock ^F6	--	--	--
Gift	Common Stock ^{F1, F2, F3}	89,923	$0.00	$0.00

Holdings After Transaction: Common Stock — 219,963 shares (Direct); Common Stock — 496,470 shares (Indirect, By trust); Common Stock — 91,923 shares (Indirect, By spouse)

Footnotes (6)

F1. Includes 1,772 shares of restricted stock.
F2. Includes 1,814 shares held jointly with Mr. Newman's spouse.
F3. This transaction involved Mr. Newman's gift of 89,923 shares of Alerus Financial Corporation common stock to his spouse.
F4. Shares held by the Anita D. Newman Revocable Living Trust under agreement dated August 27, 2015. Mr. Newman's spouse is the trustee of this trust.
F5. Shares held by the Anita D. Newman 2021 GST Trust. Mr. Newman is a beneficiary and a trustee of this trust, and possesses sole voting and investment power with respect to these shares.
F6. Reflects 89,923 shares of Alerus Financial Corporation common stock gifted to Mr. Newman's spouse by Mr. Newman.

Key Figures

Shares gifted to spouse: 89,923 shares Direct shares following gift: 219,963 shares Spouse's reported shares: 91,923 shares

3 metrics

Shares gifted to spouse 89,923 shares September 22, 2026

Direct shares following gift 219,963 shares Reported after the September 22, 2026 gift

Spouse's reported shares 91,923 shares As of October 21, 2026; reflects the gifted shares

Key Terms

restricted stock, Revocable Living Trust, sole voting and investment power

3 terms

restricted stock technical

"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.

Revocable Living Trust technical

"Shares held by the Anita D. Newman Revocable Living Trust"

sole voting and investment power regulatory

"possesses sole voting and investment power with respect to these shares"

FAQ

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

How many ALRS shares did Randy L. Newman gift to his spouse?

Randy L. Newman, a director of Alerus Financial Corp., gifted 89,923 shares of common stock to his spouse on September 22, 2026. His directly held position after the gift was 219,963 shares.

What trust holdings are listed for ALRS director Randy L. Newman?

The listed holdings include the Anita D. Newman Revocable Living Trust, whose trustee is Mr. Newman’s spouse, and the Anita D. Newman 2021 GST Trust. Mr. Newman is a beneficiary and trustee of the 2021 GST Trust and has sole voting and investment power over its shares.

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

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Available on EDGAR 10/22/2026 - 04:03 PM EDT Accepted by SEC EDGAR 10/22/2026 - 04:02 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^*

Newman Randy L

(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)
10/21/2026

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	09/22/2026		G		89,923	D	$0	219,963⁽¹⁾⁽²⁾⁽³⁾	D
Common Stock								156,705	I	By trust⁽⁴⁾
Common Stock								339,765	I	By trust⁽⁵⁾
Common Stock								91,923⁽⁶⁾	I	By spouse

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. Includes 1,772 shares of restricted stock.

2. Includes 1,814 shares held jointly with Mr. Newman's spouse.

3. This transaction involved Mr. Newman's gift of 89,923 shares of Alerus Financial Corporation common stock to his spouse.

4. Shares held by the Anita D. Newman Revocable Living Trust under agreement dated August 27, 2015. Mr. Newman's spouse is the trustee of this trust.

5. Shares held by the Anita D. Newman 2021 GST Trust. Mr. Newman is a beneficiary and a trustee of this trust, and possesses sole voting and investment power with respect to these shares.

6. Reflects 89,923 shares of Alerus Financial Corporation common stock gifted to Mr. Newman's spouse by Mr. Newman.

	/s/ Nicholas Brenckman, by power of attorney	10/22/2026
	** 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