[Form 4] ALERUS FINANCIAL CORP Insider Trading Activity
Rhea-AI Filing Summary
Alerus Financial Corp EVP and COO Karin M. Taylor reported equity award activity involving restricted stock units and common stock. On February 26, 2026, 3,574 restricted stock units were exercised into 3,574 shares of common stock at a stated price of $0.00 per share, reflecting a conversion of prior awards.
On the same date, 1,094 common shares at $25.45 per share were withheld to cover tax liabilities upon vesting, rather than sold in an open-market transaction. Taylor also received a new grant of 6,876 restricted stock units, which convert into common stock on a one-for-one basis, bringing her directly held common stock to 28,590 shares and maintaining 6,876 restricted stock units outstanding.
Footnotes explain that earlier performance-based restricted stock units granted in 2023 vested after the compensation committee certified results at 112% of target, and that certain time-based and performance-based restricted stock units now outstanding may vest through 2029 based on time and future performance certifications. Taylor also has indirect ownership of 2,212.5242 common shares through the Alerus Financial Corporation Employee Stock Ownership Program.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 3,574 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 6,876 | $0.00 | -- |
| Exercise | Common Stock | 3,574 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,094 | $25.45 | $28K |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- On February 21, 2023, the reporting person was granted 3,191 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. Includes 3,012 shares of restricted stock. 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 2,750 restricted stock units that have time-based vesting components. Includes 4,126 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.
