Lorenson Katie A bought ALRS
February 27, 2024 · Form 4 insider transaction
Lorenson Katie A bought 3,234 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, Ms. Lorenson was granted 2,156 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% and the performance-based restricted stock units vested of target or reduced to 0% based on achievement of the applicable metrics. The Alerus Financial Corporation Compensation Committee certified the payout at 150% on February 27, 2024.; Restricted stock units convert into common stock on a one-for-one basis.; Includes 3,263 shares of restricted stock. Includes 10,626 shares held jointly with Ms. Lorenson's spouse.