February 26, 2025 · Form 4 insider transaction
Lorenson Katie A bought 21,197 shares of Alerus Financial Corp at $0.00 per share, a transaction worth N/A. The trade was recorded as grant or award and disclosed on an SEC Form 4, filed 2 days after the transaction.
Each restricted stock unit represents a contingent right to receive one share of Alerus Financial Corporation common stock.; Includes 8,479 restricted stock units that have time-based vesting components. Includes 12,718 restricted stock units that have performance-based vesting components.; The time-based restricted stock units vest on February 26, 2028. The performance-based restricted stock units vest no later than March 15, 2028, so long as Alerus Financial Corporation meets certain cumulative EPS and ROE goals. 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.