Form 4: Alerus Financial Corp Executive Jon Hendry Reports Share Transactions
SEC Form 4
Jon Hendry, Chief Technology Officer & EVP of Alerus Financial Corp, reports transactions involving common stock and restricted stock units, including acquisitions and disposals due to vesting and tax liabilities.
Summary
- Jon Hendry, the Chief Technology Officer & EVP of Alerus Financial Corp, filed a Form 4 detailing changes in beneficial ownership.
- On January 2, 2025, Hendry acquired common stock through the vesting of restricted stock units.
- He acquired 1,035 shares, 63 shares, 1,672 shares, and 1,891 shares from restricted stock units granted on February 3, 2022, July 1, 2022, February 21, 2023, and February 27, 2024, respectively.
- The vesting of these restricted stock units was accelerated due to Hendry's retirement on January 2, 2024.
- Hendry also disposed of 1,454 shares to cover tax liabilities at a price of $19.14 per share.
- Following these transactions, Hendry directly owns 55,867 shares of common stock.
- He also indirectly owns 3,000 shares through his spouse and 21,951.9535 shares through the Alerus Financial Corporation Employee Stock Ownership Plan.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall impact is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 02/03/2022 | Mr. Hendry was granted 1,035 time-based restricted stock units |
| 07/01/2022 | Mr. Hendry was granted 63 time-based restricted stock units |
| 02/21/2023 | Mr. Hendry was granted 1,672 time-based restricted stock units |
| 02/27/2024 | Mr. Hendry was granted 1,891 time-based restricted stock units |
| 01/02/2024 | Vesting of restricted stock units accelerated due to Mr. Hendry's retirement |
| 01/02/2025 | Transactions involving common stock and restricted stock units occurred |
| 01/06/2025 | Date of the report |
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