Keney Missy 4

What Happened

• Missy Keney, Chief Engagement Officer of Alerus Financial Corp (ALRS), had 1,398 restricted stock units (RSUs) vest on Feb 21, 2026 and those RSUs converted one-for-one into common shares (derivative transaction, code M). To satisfy tax withholding, 1,215 of the newly issued shares were withheld on Feb 23, 2026 at a price of $25.45 per share (total value withheld ≈ $30,922), leaving 183 shares issued to her net.

Key Details

• Transaction dates: RSU vest/convert on 2026-02-21; shares withheld for tax on 2026-02-23; Form 4 filed 2026-02-24.
• Prices/values: tax withholding executed by withholding 436 shares ($11,096) and 779 shares ($19,826) at $25.45/share (total ≈ $30,922).
• Net issued from this vesting: 1,398 shares converted − 1,215 withheld = 183 shares received by Ms. Keney.
• Footnotes: RSUs were granted on Feb 21, 2023 and vested 2/21/2026 (F1); RSUs convert 1-for-1 to common stock (F2); withheld shares were used to pay tax liability (F4, F5). Reported holdings include 3,738 shares held jointly with her spouse and additional ESOP allocations held in her spouse’s name (F3, F6, F7).
• Timeliness: The filing shows these transactions and was submitted 2026-02-24; the report does not indicate a late filing.

Context

• This was an RSU vesting and conversion event, not an open-market purchase or discretionary sale by the insider. The withholding of shares to cover taxes is a routine administrative step (common when awards vest) and does not necessarily signal a buy or sell intent by the insider.
• For retail investors, purchases or open-market sales by insiders can be more informative about sentiment; vested awards and tax-withholding are typically standard compensation events.