4//SEC Filing
Newman Randy L 4
Accession 0001104659-24-029363
CIK 0000903419other
Filed
Feb 28, 7:00 PM ET
Accepted
Feb 29, 4:08 PM ET
Size
20.9 KB
Accession
0001104659-24-029363
Insider Transaction Report
Form 4
Newman Randy L
Director
Transactions
- Exercise/Conversion
Restricted Stock Units
2024-02-27−13,251→ 0 total→ Common Stock (13,251 underlying) - Exercise/Conversion
Common stock
2024-02-27+13,251→ 205,572 total
Holdings
- 156,705(indirect: By Trust)
Common stock
- 2,000(indirect: By Spouse)
Common stock
- 94,655.718(indirect: By the Alerus Financial Corporation Employee Stock Ownership Plan)
Common stock
- 339,765(indirect: By Trust)
Common stock
Footnotes (7)
- [F1]On February 17, 2021, Mr. Newman was granted 8,834 performance-based restricted stock units, vesting no later than March 15, 2024, so long as Alerus Financial Corporation meets certain cumulative net income goals.The payout could be increased to 150% of target or reduced to 0% based on achievement of the applicable metrics. The Alerus Financial Corporation Compensation Committee certified the payout at 150% and the performance-based restricted stock units vested on February 27, 2024.
- [F2]Restricted stock units convert into common stock on a one-for-one basis.
- [F3]Total holdings have been adjusted to reflect an inadvertent error in prior Forms 4.
- [F4]Includes 1,814 shares held jointly with Mr. Newman's spouse.
- [F5]Reflects a correction in form of ownership of 156,705 shares from direct to indirect through the Anita D. Newman Revocable Living Trust under agreement dated August 27, 2015, which was inadvertently incorrectly disclosed on previous filings. Mr. Newman's sposue is the trustee of this trust.
- [F6]Reflects change in form of ownership on October 1, 2021 of 339,765 shares from direct to indirect through transfer of shares to 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.
- [F7]Reflects ESOP allocations that have occurred since the date of the reporting person's last ownership report.
Issuer
ALERUS FINANCIAL CORP
CIK 0000903419
Entity typeother
Related Parties
1- filerCIK 0001786850
Filing Metadata
- Form type
- 4
- Filed
- Feb 28, 7:00 PM ET
- Accepted
- Feb 29, 4:08 PM ET
- Size
- 20.9 KB