0001104659-24-029362.txt : 20240229 0001104659-24-029362.hdr.sgml : 20240229 20240229160656 ACCESSION NUMBER: 0001104659-24-029362 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240227 FILED AS OF DATE: 20240229 DATE AS OF CHANGE: 20240229 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Hendry Jon CENTRAL INDEX KEY: 0001942217 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-39036 FILM NUMBER: 24703605 MAIL ADDRESS: STREET 1: 401 DEMERS AVENUE CITY: GRAND FORKS STATE: ND ZIP: 58201 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: ALERUS FINANCIAL CORP CENTRAL INDEX KEY: 0000903419 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] ORGANIZATION NAME: 02 Finance IRS NUMBER: 450375407 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 401 DEMERS AVE CITY: GRAND FORKS STATE: ND ZIP: 58201 BUSINESS PHONE: 7017953200 MAIL ADDRESS: STREET 1: PO BOX 6001 STREET 2: 401 DEMERS AVE CITY: GRAND FORKS STATE: ND ZIP: 58206-6001 FORMER COMPANY: FORMER CONFORMED NAME: FIRST NATIONAL CORP NORTH DAKOTA DATE OF NAME CHANGE: 19980312 4 1 tm245214-27_4seq1.xml OWNERSHIP DOCUMENT X0508 4 2024-02-27 0 0000903419 ALERUS FINANCIAL CORP ALRS 0001942217 Hendry Jon 401 DEMERS AVENUE GRAND FORKS ND 58201 0 1 0 0 Chief Technology Officer & EVP 0 Common stock 2024-02-27 4 M 0 2298 0 A 53192 D Common Stock 2024-02-27 4 F 0 724 21.84 D 52468 D Common Stock 3000 I By spouse Common Stock 21663.3500 I By the Alerus Financial Corporation Employee Stock Ownership Plan Restricted Stock Units 2024-02-27 4 M 0 2298 0.00 D Common Stock 2298 0 D Restricted Stock Units 2024-02-27 4 A 0 4728 0.00 A Common Stock 4728 4728 D On February 17, 2021, Mr. Hendry was granted 1,532 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. Includes 46,398 shares held jointly with Mr. Hendry's spouse. Shares withheld upon vesting of restricted stock units for payment of tax liability. Includes 1,891 restricted stock units that have time-based vesting components. Includes 2,837 restricted stock units that have performance-based vesting components. The time-based restricted stock units vest on February 27, 2027. The performance-based restricted stock units vest no later than March 15, 2027, 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. /s/ Nicholas Brenckman, by power of attorney 2024-02-29