Taylor Karin M 4
4 · ALERUS FINANCIAL CORP · Filed Feb 29, 2024
Insider Transaction Report
Form 4
Taylor Karin M
EVP and COO
Transactions
- Award
Restricted Stock Units
2024-02-27+6,923→ 6,923 total→ Common Stock (6,923 underlying) - Exercise/Conversion
Common Stock
2024-02-27+2,648→ 24,811 total - Tax Payment
Common Stock
2024-02-27$21.84/sh−951$20,770→ 23,860 total - Exercise/Conversion
Restricted Stock Units
2024-02-27−2,648→ 0 total→ Common Stock (2,648 underlying)
Holdings
- 1,251.25(indirect: By the Alerus Financial Corporation Employee Stock Ownership Plan)
Common Stock
Footnotes (6)
- [F1]On February 17, 2021, Ms. Taylor was granted 1,765 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% and the performance-based restricted stock units vested of target or reduced to 0% based on achievement of the applicable metrics. The Alerus Financial Corporation Compensation Committee certified the payout at 150% on February 27, 2024.
- [F2]Restricted stock units convert into common stock on a one-for-one basis.
- [F3]Includes 6,024 shares of restricted stock.
- [F4]Shares withheld upon vesting of restricted stock units for payment of tax liability.
- [F5]Includes 2,769 restricted stock units that have time-based vesting components. Includes 4,154 restricted stock units that have performance-based vesting components.
- [F6]The time-based restricted stock units vest on February 27, 2027. The performance-based restricted stock units vest no later than March 15, 2027, so long as Alerus Financial Corporation meets certain cumulative EPS and ROE goals. 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.