Taylor Karin M 4
4 · ALERUS FINANCIAL CORP · Filed Mar 2, 2026
Research Summary
AI-generated summary of this filing
Alerus (ALRS) EVP Karin Taylor Receives RSU Award; Shares Withheld for Taxes
What Happened Karin M. Taylor, Executive Vice President and COO of Alerus Financial Corp (ALRS), had restricted stock units (RSUs) vest on February 26, 2026. A total of 6,876 RSUs were converted into common shares (one-for-one). To satisfy tax withholding on the vesting, 1,094 shares were withheld/disposed at $25.45 per share, generating a tax withholding value of $27,842. The filing also records conversion/exercise entries associated with the RSU vesting.
Key Details
- Transaction date: February 26, 2026; Form 4 filed March 2, 2026 (filed on time).
- Award/vesting: 6,876 RSUs converted to common stock (code A / conversion M), $0 exercise price (RSUs).
- Tax withholding: 1,094 shares withheld (code F) at $25.45 = $27,842.
- Other entries: 3,574-share derivative conversion/entry reported as acquired and disposed consistent with the RSU conversion mechanics.
- Shares owned after transaction: total beneficial ownership not specified in the provided excerpt; filing notes include 3,012 shares of restricted stock and ESOP allocations since the last report.
- Notable footnotes:
- F1: 3,191 performance-based RSUs granted Feb 21, 2023; payout certified at 112% and vested Feb 26, 2026.
- F2: RSUs convert 1:1 into common stock.
- F4: Shares were withheld upon vesting to cover tax liability.
- F6–F7: The 6,876 RSUs break down into time-based (2,750) and performance-based (4,126) components; remaining time-based and performance tranches have later vesting/measurement dates through 2029.
- F5: ESOP allocations reflected since last ownership filing.
Context This was a routine RSU vesting event and tax-withholding transaction rather than an open-market buy or sale that signals a trading decision. The RSUs converted to shares (derivative exercise/conversion), and withholding of shares to pay taxes is a common administrative step following vesting.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2][F3]2026-02-26+3,574→ 29,684 total - Tax Payment
Common Stock
[F4][F3]2026-02-26$25.45/sh−1,094$27,842→ 28,590 total - Exercise/Conversion
Restricted Stock Units
[F2][F1]2026-02-26−3,574→ 0 total→ Common Stock (3,574 underlying) - Award
Restricted Stock Units
[F2][F6][F7]2026-02-26+6,876→ 6,876 total→ Common Stock (6,876 underlying)
- 2,212.524(indirect: By the Alerus Financial Corporation Employee Stock Ownership Program)
Common Stock
[F5]
Footnotes (7)
- [F1]On February 21, 2023, the reporting person was granted 3,191 performance-based restricted stock units, vesting upon Alerus Financial Corporation Compensation Committee certification of established total net income goals. The payout could be increased to 150% of target or reduced to 0% based on achievement of the applicable metric. The Alerus Financial Corporation Compensation Committee certified the payout at 112% and the performance-based restricted stock units vested on February 26, 2026.
- [F2]Restricted stock units convert into common stock on a one-for-one basis.
- [F3]Includes 3,012 shares of restricted stock.
- [F4]Shares withheld upon vesting of restricted stock units for payment of tax liability.
- [F5]Reflects ESOP allocations that have occurred since the date of the reporting person's last ownership report.
- [F6]Includes 2,750 restricted stock units that have time-based vesting components. Includes 4,126 restricted stock units that have performance-based vesting components.
- [F7]The time-based restricted stock units vest on February 26, 2029. The performance-based restricted stock units vest upon Alerus Financial Corporation Compensation Committee certification of certain relative cumulative EPS and ROE performance period goals, provided that such certification date occurs no later than March 15, 2029. 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.