Vetter Galen G 4

What Happened Galen G. Vetter, a director of Alerus Financial Corporation (ALRS), received an award of 1,772 shares on May 22, 2026 pursuant to the company's annual director award. The Form 4 reports the acquisition at $0.00 per share (total reported value $0) under transaction code A (award/grant). This was an issuance of restricted stock as compensation, not an open-market purchase or sale.

Key Details

• Transaction date and filing: Award dated 2026-05-22; Form 4 filed 2026-05-27.
• Price: $0.00 per share; total reported value $0.
• Shares granted: 1,772 restricted shares (per footnote F2).
• Plan: Granted under the Alerus Financial Corporation 2019 Equity Incentive Plan (footnote F1).
• Ownership after transaction: Not specified in the provided filing excerpt; footnote F3 notes these shares were previously reported as directly held by the reporting person.
• Timeliness: Filing appears to be late (filed five days after the transaction); Form 4s are generally required within two business days of the transaction.

Context This grant is a routine director compensation event — restricted stock awards are commonly used to compensate and retain directors and typically vest over time. Such awards are not the same as a director "buying" stock on the open market and do not by themselves indicate the director is increasing or decreasing a market exposure. The late filing is a compliance detail investors may note; it does not change the nature of the award but can be relevant for governance and reporting scrutiny.