Wilson Forrest 4

What Happened Forrest Wilson, EVP & Chief Retail Services Officer of Alerus Financial Corp (ALRS), received a grant of 6,602 restricted stock units (RSUs) on February 26, 2026. The Form 4 reports the award as a derivative acquisition at $0.00 per unit (typical for RSU grants). Per the filing, the RSUs convert to common stock on a one‑for‑one basis when they vest.

Key Details

• Transaction date: February 26, 2026; reported on Form 4 filed March 2, 2026 (timely within the two business‑day window).
• Award: 6,602 RSUs (2,641 time‑based; 3,961 performance‑based).
• Price reported: $0.00 per unit (derivative award).
• Shares owned after transaction: Not specified in the filing.
• Footnotes: F1 = RSUs convert 1:1 to common stock. F2 = breakdown of time‑based vs performance‑based units. F3 = Time‑based RSUs vest Feb 26, 2029; performance RSUs vest upon Alerus Compensation Committee certification of relative cumulative EPS and ROE goals (no later than Mar 15, 2029) and may pay 0%–150% of target based on achievement.
• Transaction code: A (award/grant).

Context This was a compensation award, not an open‑market purchase or sale, so it reflects pay-related equity compensation rather than an immediate market sentiment signal. The performance‑based portion is contingent on future metrics and could be forfeited or increased up to 150% depending on results; the time‑based portion vests three years after grant. Once vested (and if performance goals are met for the performance RSUs), the units convert into shares.