Newman Randy L bought ALRS
February 27, 2024 · Form 4 insider transaction
Newman Randy L bought 13,251 shares of Alerus Financial Corporation at $0.00 per share, a transaction worth N/A. The trade was recorded as option exercise and disclosed on an SEC Form 4, filed 2 days after the transaction.
Footnotes
On February 17, 2021, Mr. Newman was granted 8,834 performance-based restricted stock units, vesting no later than March 15, 2024, so long as Alerus Financial Corporation meets certain cumulative net income goals.The payout could be increased to 150% of target or reduced to 0% based on achievement of the applicable metrics. The Alerus Financial Corporation Compensation Committee certified the payout at 150% and the performance-based restricted stock units vested on February 27, 2024.; Restricted stock units convert into common stock on a one-for-one basis.; Total holdings have been adjusted to reflect an inadvertent error in prior Forms 4.; Includes 1,814 shares held jointly with Mr. Newman's spouse.