Villalon Alan 4
4 · ALERUS FINANCIAL CORP · Filed Feb 29, 2024
Insider Transaction Report
Form 4
Villalon Alan
EVP & Chief Financial Officer
Transactions
- Award
Restricted Stock Units
2024-02-27+6,319→ 6,319 total→ Common Stock
Footnotes (3)
- [F1]Restricted stock units convert into common stock on a one-for-one basis.
- [F2]Includes 2,528 restricted stock units that have time-based vesting components. Includes 3,791 restricted stock units that have performance-based vesting components.
- [F3]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.