What equity plan governed Randy Newman’s ALRS share grant?

The grant was issued under the Alerus Financial Corporation 2019 Equity Incentive Plan. This plan provides stock-based compensation to directors, and the filing states all 1,772 shares in the reported award were acquired pursuant to this plan.

Alerus director granted 1,772-share equity award

Newman Randy L reported acquisition or exercise transactions in this Form 4 filing.

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Form Type

Rhea-AI Filing Summary

Newman Randy L reported acquisition or exercise transactions in this Form 4 filing.

Alerus Financial Corp director Randy L. Newman reported a stock grant rather than a market trade. He received 1,772 shares of common stock at no cost as an annual director award under the Alerus Financial Corporation 2019 Equity Incentive Plan, bringing his direct holdings to 309,886 shares, including restricted stock. He also reports additional indirect ownership through shares held by his spouse and in family trusts, one of which he serves as both trustee and beneficiary with sole voting and investment power.

Insider Trade Summary

Grant/Award: 1,772 shares

Grant/Award 4 txns

Insider Newman Randy L

Role Director

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

Holdings After Transaction: Common Stock — 309,886 shares (Direct); Common Stock — 496,470 shares (Indirect, By trust); Common Stock — 2,000 shares (Indirect, By spouse)

Footnotes (5)

F1. All shares were acquired pursuant to an annual director award issued under the Alerus Financial Corporation 2019 Equity Incentive Plan.
F2. Includes 1,772 shares of restricted stock.
F3. Includes 1,814 shares held jointly with Mr. Newman's 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.

Key Figures

Equity award size: 1,772 shares Grant price: $0.00 per share Direct holdings after award: 309,886 shares +3 more

6 metrics

Equity award size 1,772 shares Annual director award under 2019 Equity Incentive Plan

Grant price $0.00 per share Director stock award compensation

Direct holdings after award 309,886 shares Common stock directly owned after reported grant

Indirect spouse-held shares 2,000 shares Common stock held by spouse

Indirect trust holdings (revocable trust) 339,765 shares Shares held by Anita D. Newman Revocable Living Trust

Indirect trust holdings (2021 GST Trust) 156,705 shares Shares held by Anita D. Newman 2021 GST Trust

Key Terms

2019 Equity Incentive Plan, restricted stock, Revocable Living Trust, GST Trust, +1 more

5 terms

2019 Equity Incentive Plan financial

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

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.

Revocable Living Trust financial

"Shares held by the Anita D. Newman Revocable Living Trust under agreement dated August 27, 2015."

GST Trust financial

"Shares held by the Anita D. Newman 2021 GST Trust."

voting and investment power financial

"Mr. Newman is a beneficiary and a trustee of this trust, and possesses sole voting and investment power with respect to these shares."

FAQ

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

What did Randy L. Newman report in this ALRS Form 4 filing?

Randy L. Newman reported receiving 1,772 shares of Alerus Financial Corp common stock as an annual director equity award. The shares were granted under the company’s 2019 Equity Incentive Plan and are compensation-related, not an open-market stock purchase or sale.

How many Alerus (ALRS) shares did Newman receive in the latest award?

Newman received 1,772 shares of Alerus common stock in this grant. The award increased his direct holdings to 309,886 shares, and the footnotes clarify that the total includes restricted stock issued as part of director compensation.

Was the ALRS Form 4 transaction a market buy or sell of shares?

The Form 4 does not show a market buy or sell. Instead, it reports a grant of 1,772 shares at a price of $0.00 per share as an annual director award, reflecting stock-based compensation rather than a discretionary trading decision.

What are Randy Newman’s direct Alerus (ALRS) holdings after this Form 4?

After the reported award, Newman directly holds 309,886 shares of Alerus common stock. Footnotes indicate that this amount includes 1,772 shares of restricted stock that were part of the annual director equity grant disclosed in the filing.

Does Randy Newman report any indirect ownership of ALRS shares?

Yes. The filing shows indirect holdings through his spouse and two trusts. One trust is a revocable living trust where his spouse is trustee, and another 2021 GST Trust lists Newman as both beneficiary and trustee with sole voting and investment power over its shares.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 05/27/2026 - 04:14 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)
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	309,886⁽²⁾⁽³⁾	D
Common Stock								156,705	I	By trust⁽⁴⁾
Common Stock								339,765	I	By trust⁽⁵⁾
Common Stock								2,000	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. 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 1,814 shares held jointly with Mr. Newman's 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.

	/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