X0508 4 2026-02-26 0000903419 ALERUS FINANCIAL CORP ALRS 0001941903 Keney Missy 401 DEMERS AVENUE GRAND FORKS ND 58201 1 Chief Engagement Officer 0 Common Stock 2026-02-26 4 M 0 2349 0 A 10814 D Common Stock 2026-02-26 4 F 0 608 25.45 D 10206 D Common Stock 3566 I By spouse Common Stock 4900.1629 I By the Alerus Financial Corporation Employee Stock Ownership Program Common Stock 5299.8914 I By the Alerus Financial Corporation Employee Stock Ownership Program Restricted Stock Units 2026-02-26 4 M 0 2349 0 D Common Stock 2349 0 D Restricted Stock Units 2026-02-26 4 A 0 5153 0 A Common Stock 5153 5153 D On February 21, 2023, the reporting person was granted 2,097 performance-based restricted stock units, vesting upon Alerus Financial Corporation Compensation Committee certification of established total net income goals. The payout could be increased to 150% of target or reduced to 0% based on achievement of the applicable metric. The Alerus Financial Corporation Compensation Committee certified the payout at 112% and the performance-based restricted stock units vested on February 26, 2026. Restricted stock units convert into common stock on a one-for-one basis. Includes 3,738 shares held jointly with Ms. Keney's spouse. Shares withheld upon vesting of restricted stock units for payment of tax liability. Reflects ESOP allocations that have occurred since the date of the reporting person's last ownership report. All shares are held by the Alerus Financial Corporation Employee Stock Ownership Plan in the name of Ms. Keney's spouse. Includes 2,061 restricted stock units that have time-based vesting components. Includes 3,092 restricted stock units that have performance-based vesting components. The time-based restricted stock units vest on February 26, 2029. The performance-based restricted stock units vest upon Alerus Financial Corporation Compensation Committee certification of certain relative cumulative EPS and ROE performance period goals, provided that such certification date occurs no later than March 15, 2029. 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 2026-03-02