4//SEC Filing
Lorenson Katie A 4
Accession 0001104659-24-029367
CIK 0000903419other
Filed
Feb 28, 7:00 PM ET
Accepted
Feb 29, 4:10 PM ET
Size
11.3 KB
Accession
0001104659-24-029367
Insider Transaction Report
Form 4
Lorenson Katie A
DirectorChief Executive Officer
Transactions
- Award
Restricted Stock Units
2024-02-27+16,484→ 16,484 total→ Common Stock (16,484 underlying) - Exercise/Conversion
Common stock
2024-02-27+3,234→ 43,507 total - Exercise/Conversion
Restricted Stock Units
2024-02-27−3,234→ 0 total→ Common Stock (3,234 underlying)
Holdings
- 1,656.63(indirect: By the Alerus Financial Corporation Employee Stock Ownership Plan)
Common Stock
Footnotes (5)
- [F1]On February 17, 2021, Ms. Lorenson was granted 2,156 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 3,263 shares of restricted stock. Includes 10,626 shares held jointly with Ms. Lorenson's spouse.
- [F4]Includes 6,594 restricted stock units that have time-based vesting components. Includes 9,890 restricted stock units that have performance-based vesting components.
- [F5]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.
Documents
Issuer
ALERUS FINANCIAL CORP
CIK 0000903419
Entity typeother
Related Parties
1- filerCIK 0001681474
Filing Metadata
- Form type
- 4
- Filed
- Feb 28, 7:00 PM ET
- Accepted
- Feb 29, 4:10 PM ET
- Size
- 11.3 KB