X0508 4 2026-02-26 0000903419 ALERUS FINANCIAL CORP ALRS 0002012603 Wilson Forrest 401 DEMERS AVENUE GRAND FORKS ND 58201 1 EVP & Chief Ret. Svcs. Officer 0 Restricted Stock Units 2026-02-26 4 A 0 6602 0 A Common Stock 6602 6602 D Restricted stock units convert into common stock on a one-for-one basis. Includes 2,641 restricted stock units that have time-based vesting components. Includes 3,961 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