Alerus Financial Corp executive Alan Villalon reported an equity award vesting and share issuance. On February 21, 2026, 1,915 restricted stock units were exercised and converted into 1,915 shares of common stock at a stated price of $0.00 per share.
After this conversion, Villalon directly owned 12,502 shares of Alerus Financial common stock. He also had indirect ownership of 770.6404 shares through the Alerus Financial Corporation Employee Stock Ownership Program, reflecting allocations since his last ownership report. The footnotes note that the restricted stock units were originally granted on February 21, 2023 and convert to common stock on a one-for-one basis.
Alerus Financial Corp EVP, CBO & CRO Jim Collins reported equity transactions tied to a prior restricted stock unit (RSU) grant. On February 21, 2026, 2,523 RSUs granted in 2023 vested and converted into common stock on a one-for-one basis. On February 23, 2026, 917 common shares were withheld at $25.45 per share to cover tax liabilities, a non‑market disposition. Following these events, Collins directly owned 13,022 common shares and indirectly held 720.7194 common shares through the Alerus Financial Corporation Employee Stock Ownership Program, reflecting ESOP allocations since his last report.
Alerus Financial Corp executive vice president and COO Karin M. Taylor reported equity award activity rather than open‑market trading. On February 21, 2026, 2,128 restricted stock units granted in 2023 converted into the same number of common shares at $0.00 per share. Footnotes state these units convert to common stock on a one‑for‑one basis.
Following this vesting, on February 23, 2026, 774 common shares were withheld at $25.45 per share to cover tax liability, a non‑market "F" code tax‑withholding disposition. After these transactions, Taylor directly owned 26,110 common shares, including 3,012 shares of restricted stock, and had an additional 2,207.6046 shares held indirectly through the Alerus Employee Stock Ownership Program.
Alerus Financial’s Chief Engagement Officer Missy Keney reported equity award activity and related tax withholding. On February 21, 2026, 1,398 restricted stock units converted into the same number of common shares. On February 23, 2026, 436 shares held directly and 779 shares held by her spouse were withheld to cover tax liabilities, leaving 8,465 common shares held directly, plus additional indirect holdings through her spouse and the company’s employee stock ownership plan.
The Vanguard Group has filed a Schedule 13G reporting a passive ownership stake in Alerus Financial Corp. Vanguard reports beneficial ownership of 1,289,690 shares of Alerus common stock, representing 5.07% of the outstanding class. Vanguard has shared voting power over 172,955 shares and shared dispositive power over 1,289,690 shares, with no sole voting or dispositive power.
The filing states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of Alerus. Vanguard explains that, following an internal realignment on January 12, 2026, certain subsidiaries or business divisions that pursue the same investment strategies may report beneficial ownership separately from The Vanguard Group.
Alerus Financial Corporation filed a current report to share its latest financial communications. The company issued a press release announcing financial results for the three and twelve months ended December 31, 2025, which is attached as Exhibit 99.1 and incorporated by reference.
Alerus also posted an investor presentation on its investor relations website and attached it as Exhibit 99.2. Both the press release and the presentation are being treated as information that is “furnished,” not “filed,” meaning they are generally not subject to certain Exchange Act liabilities unless required by law.
Alerus Financial Corp executive files amended Form 4 to correct prior tax withholding entry. The company’s EVP, CBO & CRO reported that on 12/31/2025, 1,878 shares of Alerus common stock were withheld to cover taxes upon the vesting of restricted stock, at a price of $22.32 per share. After this withholding, the executive beneficially owns 11,416 shares directly. The amendment clarifies that the original filing had incorrectly reported 1,582 shares withheld; the correct figure is 1,878 shares.
Alerus Financial Corp (ALRS) filed its Form 10‑Q, highlighting hedge accounting, credit loss components, and derivative disclosures. The company notes residential agency mortgage‑backed securities are designated as the hedged item in a fair value hedge using the portfolio layer method; the amortized cost of closed portfolios used in these hedging relationships was $281.6 million as of June 30, 2025, compared with $296.9 million as of December 31, 2024.
The filing details credit loss expense components, including a difference tied to ($3.9) million for off‑balance sheet credit exposure, ($6) thousand for HTM securities, and $78 thousand for non‑mortgage loans transferred to held for sale; another period shows ($31) thousand for off‑balance sheet exposure and ($76) thousand for HTM securities. Alerus maintains master netting agreements for interest rate swap counterparties and obtains collateral on customer loan swaps. Derivative assets are recorded in other assets and derivative liabilities in accrued expenses and other liabilities. Low‑income housing tax credit amortization and related tax benefits are reflected within income tax expense.
Alerus Financial Corporation furnished materials related to recent performance. On October 30, 2025, the company issued a press release with financial results for the three and nine months ended September 30, 2025, attached as Exhibit 99.1. It also posted an investor presentation on its investor relations website, attached as Exhibit 99.2.
The information in Items 2.02 and 7.01, and Exhibits 99.1 and 99.2, is being furnished and will not be deemed filed, except to the extent required by law or expressly incorporated by reference.
Alerus Financial Corporation reported two material items: the board approved an executive severance agreement for CEO Katie A. Lorenson and declared a cash dividend. The Severance Agreement (effective August 28, 2025) provides payments if the CEO is terminated by the company without Cause before a Change in Control or if termination occurs within 24 months after a Change in Control. For pre-Change-in-Control termination the CEO would receive 2.0 times a defined Severance Pay paid over 12 months; for qualifying post-Change-in-Control termination she would receive 2.99 times Severance Pay paid in a lump sum. The agreement has a 24-month evergreen term terminable on 120 days' notice prior to a Change in Control. The board also declared a $0.21 per share cash dividend payable October 10, 2025 to holders of record on September 26, 2025.