Zimmer Mary 4

What Happened

• Mary Zimmer, a director of Alerus Financial Corporation, was granted 1,772 shares as an annual director award on May 22, 2026. The shares were reported as acquired at $0.00 per share (total reported transaction value $0), and the award was issued under the Alerus Financial Corporation 2019 Equity Incentive Plan.
• The grant consists of restricted stock (subject to vesting/transfer limits), so these are compensation shares rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-22; Report filed with the SEC: 2026-05-27 (filed five days after the award date).
• Price: $0.00 per share; Shares granted/acquired: 1,772; Reported transaction value: $0.
• Shares owned after transaction: filing notes include 1,772 restricted shares plus 3,809 shares held jointly with Ms. Zimmer’s spouse — implying at least 5,581 shares attributable to her in the filing.
• Footnotes: (F1) Award issued under the 2019 Equity Incentive Plan; (F2) the 1,772 shares are restricted stock; (F3) 3,809 shares are held jointly with spouse.
• Timeliness: The Form 4 was filed five days after the award date (SEC Form 4s are generally required within two business days), so this filing was later than the typical reporting window.

Context

• Director awards like this are routine compensation for board service. Restricted stock grants are not an out-of-pocket purchase and may vest over time, so they do not necessarily signal immediate insider buying intent.
• For retail investors, such awards are useful to track executive/director alignment with shareholders, but they differ from open-market purchases, which are often considered stronger signals of positive insider conviction.