Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
Each company listed discloses ALRS in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named ALRS in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Katie Lorenson | $625,000 | $0 | $437,500 | $0 | $484,688 | $0 | $82,992 | $1,630,180 |
| President and Chief Executive Officer | ||||||||
| Jim Collins | 465,000 | 0 | 186,000 | 0 | 262,260 | 0 | 54,137 | 967,397 |
| Executive Vice President and Chief Banking and Revenue Officer | ||||||||
| Karin Taylor | 405,000 | 0 | 162,000 | 0 | 228,420 | 0 | 53,367 | 848,787 |
| Executive Vice President and Chief Operating Officer | ||||||||
| Forrest Wilson | 390,000 | 0 | 156,000 | 0 | 219,960 | 0 | 50,237 | 816,197 |
| Executive Vice President and Chief Retirement Services Officer | ||||||||
| Alan Villalon | 360,000 | 0 | 162,000 | 0 | 203,040 | 0 | 43,648 | 768,688 |
| Executive Vice President and Chief Financial Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Katie Lorenson | $1,630,180 | $1,339,540 | $1,093,405 | +290,640 |
| Jim Collins | 967,397 | 841,886 | 726,022 | +125,511 |
| Karin Taylor | 848,787 | 721,517 | 622,882 | +127,270 |
| Forrest Wilson | 816,197 | 949,387 | — | −133,190 |
| Alan Villalon | 768,688 | 661,479 | — | +107,209 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| John Uribe | Director | 2026-05-22 | A | 1,772 | $0 | $0 | Common | Form 4 ↗ |
| Galen G. Vetter | Director | 2026-05-22 | A | 1,772 | 0 | 0 | Common | Form 4 ↗ |
| Janet O. Estep | Director | 2026-05-22 | A | 1,772 | 0 | 0 | Common | Form 4 ↗ |
| Nikki L. Sorum | Director | 2026-05-22 | A | 1,772 | 0 | 0 | Common | Form 4 ↗ |
| Randy L. Newman | Director | 2026-05-22 | A | 1,772 | 0 | 0 | Common | Form 4 ↗ |
| Daniel E. Coughlin | Director | 2026-05-22 | A | 1,772 | 0 | 0 | Common | Form 4 ↗ |
| Jeffrey W. Bolton | Director | 2026-05-22 | A | 1,772 | 0 | 0 | Common | Form 4 ↗ |
| Mary E. Zimmer | Director | 2026-05-22 | A | 1,772 | 0 | 0 | Common | Form 4 ↗ |
| Jeffrey W. Bolton | Director | 2026-05-27 | A | 1,000 | 29 | 28,715 | Common | Form 4 ↗ |
| Kari Koob | SVP, Controller | 2026-07-01 | D | 140 | 31 | 4,354 | Common | Form 4 ↗ |
| Kari Koob | SVP, Controller | 2026-07-03 | D | 102 | 31 | 3,173 | Common | Form 4 ↗ |
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Katie Lorenson | PSU | 2025-02-25 | 6,359 | 12,718 | — | 19,077 | $262,500 |
| Katie Lorenson | RSU | 2025-02-25 | — | — | 8,479 | — | 175,000 |
| Karin Taylor | PSU | 2025-02-25 | 2,355 | 4,709 | — | 7,064 | 97,200 |
| Jim Collins | RSU | 2025-02-25 | — | — | 3,605 | — | 74,400 |
| Forrest Wilson | PSU | 2025-02-25 | 2,268 | 4,535 | — | 6,803 | 93,600 |
| Forrest Wilson | RSU | 2025-02-25 | — | — | 3,023 | — | 62,400 |
| Alan Villalon | RSU | 2025-02-25 | — | — | 3,140 | — | 64,800 |
| Alan Villalon | PSU | 2025-02-25 | 2,355 | 4,709 | — | 7,064 | 97,200 |
| Jim Collins | PSU | 2025-02-25 | 2,704 | 5,407 | — | 8,111 | 111,600 |
| Karin Taylor | RSU | 2025-02-25 | — | — | 3,140 | — | 64,800 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Katie Lorenson | $175,000 | $262,500 | $0 | 60.0% |
| Karin Taylor | 64,800 | 97,200 | 0 | 60.0% |
| Jim Collins | 74,400 | 111,600 | 0 | 60.0% |
| Forrest Wilson | 62,400 | 93,600 | 0 | 60.0% |
| Alan Villalon | 64,800 | 97,200 | 0 | 60.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Forrest Wilson | RSU | 11,448 | — | $257,809 |
| Alan Villalon | RSU | 7,583 | — | 170,769 |
| Katie Lorenson | PSU | 30,967 | — | 697,377 |
| Karin Taylor | PSU | 12,054 | — | 271,456 |
| Alan Villalon | PSU | 11,372 | — | 256,097 |
| Karin Taylor | RSU | 11,048 | — | 248,801 |
| Jim Collins | RSU | 9,388 | — | 211,418 |
| Forrest Wilson | PSU | 7,969 | — | 179,462 |
| Jim Collins | PSU | 14,081 | — | 317,104 |
| Katie Lorenson | RSU | 23,908 | — | 538,408 |
The primary objectives of our executive compensation program are to (1) align compensation programs with stockholder interests, (2) utilize compensation programs that support the Company's core values and promote high ethical standards, (3) incorporate risk management features that encourage prudent decision-making without excessive risk, (4) ensure compensation programs reflect regulatory guidance, and (5) attract, motivate, and retain talented individuals.
| CEO STI target (% of salary) | 55% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | FW Cook |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | False |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-14 | 13,525,678 | 462,923 | 187,447 | 96.69% | Passed |
| 2025 | 2025-05-08 | 14,905,585 | 1,062,448 | 456,962 | 93.35% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-05-14 | 96.69%a |
| 2025 | 2025-05-08 | 93.35%b |
a. Approved under the standard stated in the filing — “Abstentions will have the same legal effect as a vote "against" this proposal, while broker non-votes, because they will not be counted as entitled to vote, will not affect the voting on this proposal.”.
b. Approved under the standard stated in the filing — “Abstentions will have the same legal effect as a vote "against" this proposal, while broker non-votes, because they will not be counted as entitled to vote, will not affect the voting on this proposal.”.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Ratio (CEO : median employee) | 21 : 1 |
|---|---|
| CEO total compensation | $1,630,180 |
| Median employee compensation | $78,830 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Daniel E. CoughlinIndependent · Board Chair · Audit · Nominating and Corporate Governance | $75,000 | $49,999 | $0 | — | $0 | $124,999 |
| Galen G. VetterIndependent · Audit (Chair) · Compensation · AUDIT (Chair) | 55,250 | 49,999 | 0 | — | 0 | 105,249 |
| Mary E. ZimmerIndependent · Compensation (Chair) · Nominating and Corporate Governance · COMPENSATION (Chair) | 52,250 | 49,999 | 0 | — | 0 | 102,249 |
| Janet O. EstepIndependent · Nominating and Corporate Governance (Chair) · Risk · GOVERNANCE (Chair) | 52,000 | 49,999 | 0 | — | 0 | 101,999 |
| Randy L. NewmanIndependent · Risk (Chair) · Nominating and Corporate Governance · RISK (Chair) | 52,000 | 49,999 | 0 | — | 0 | 101,999 |
| Jeffrey W. BoltonIndependent · Audit · Compensation | 44,000 | 49,999 | 0 | — | 0 | 93,999 |
| Nikki L. SorumIndependent · Compensation · Risk | 44,000 | 49,999 | 0 | — | 0 | 93,999 |
| John UribeIndependent · Audit · Risk | 44,000 | 49,999 | 0 | — | 0 | 93,999 |
| Katie A. LorensonEmployee director | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | — |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 10,000 / 40,000 / 8,250 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $418,500 |
| Equity awards (grant-date value) | $399,992 |
| All other compensation | $0 |
| Total cost of the board | $818,492 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies Alerus Financial Corp names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Alerus Financial Corp.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Northpointe Bancshares, Inc. | 2025 | Charles Williams | $437,750 | $378,000 | $0 | $7,131,443 | $7,948,432 |
| 2 | Stock Yards Bancorp | 2025 | James Hillebrand | 875,000 | 656,250 | 218,750 | 1,487,500 | 3,380,337 |
| 3 | First Western Financial | 2025 | Scott Wylie | 623,708 | 1,641,443 | 0 | 368,300 | 2,645,442 |
| 4 | Westwood Holdings | 2025 | Brian Casey | 750,000 | 750,000 | 0 | 1,110,220 | 2,634,720 |
| 5 | Lakeland Financial Corporation | 2025 | David Findlay | 739,654 | 1,304,582 | 0 | 393,128 | 2,473,892 |
| 6 | S&T Bancorp, Inc. | 2025 | Christopher McComish | 806,077 | 888,799 | 0 | 620,299 | 2,398,854 |
| 7 | Financial Institutions | 2025 | Martin Birmingham | 798,244 | 1,017,062 | 0 | 487,544 | 2,385,669 |
| 8 | 1st Source Corporation | 2025 | Andrea Short | 526,346 | 1,054,977 | 0 | 476,150 | 2,190,564 |
| 9 | First Mid Bancshares | 2025 | Joseph Dively | 543,400 | 514,272 | 0 | 1,019,364 | 2,109,337 |
| 10 | Univest Financial | 2025 | Jeffrey Schweitzer | 830,000 | 539,533 | 0 | 663,234 | 2,097,674 |
| 11 | German American Bancorp | 2025 | D. Neil Dauby | 770,000 | 517,464 | 0 | 602,525 | 2,068,536 |
| 12 | Cass Information Systems | 2025 | Martin Resch | 683,675 | 860,626 | 0 | 453,700 | 2,046,984 |
| 13 | Horizon Bancorp | 2025 | Thomas Prame | 685,000 | 569,973 | 0 | 601,088 | 1,965,115 |
| 14 | Great Southern Bancorp | 2025 | Joseph Turner | 518,072 | 0 | 93,756 | 872,970 | 1,815,277 |
| 15 | Bank First Corporation | 2025 | Michael Molepske | 805,838 | 463,787 | 0 | 463,763 | 1,800,787 |
| 16 | QCR Holdings, Inc. | 2025 | Todd Gipple | 430,760 | 490,389 | 0 | 558,146 | 1,713,726 |
| 17 | Community Trust Bancorp | 2025 | Mark Gooch | 721,962 | 137,090 | 0 | 740,400 | 1,639,760 |
| 18 | Alerus Financial Corp | 2025 | Katie Lorenson | 625,000 | 437,500 | 0 | 484,688 | 1,630,180 |
| 19 | Independent Bank Corporation | 2025 | William Kessel | 644,225 | 446,694 | 0 | 391,307 | 1,558,390 |
| 20 | Midland States Bancorp, Inc. | 2025 | Jeffrey Ludwig | 749,800 | 562,322 | 0 | 194,956 | 1,532,241 |
| 21 | Peoples Bancorp Inc. | 2025 | Tyler Wilcox | 700,000 | 259,195 | 0 | 416,800 | 1,500,327 |
| 22 | Waterstone Financial | 2025 | William Bruss | 439,035 | 65,848 | 0 | 214,596 | 785,156 |
| 23 | First Business Financial Services, Inc. | 2025 | James Hartlieb | 315,000 | 110,985 | 0 | 147,195 | 620,487 |
| — | Cambridge Bancorp | — | — | — | — | — | — | not in coverage universe |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Alerus Financial Corp | 141% | PSU 60 · RSU 40 | No | FW Cook |
| 1st Source Corporation | not disclosed | not disclosed | No | Pearl Meyer |
| Bank First Corporation | 74.6% | RSU 100 | not disclosed | Pearl Meyer |
| Cambridge Bancorp | not disclosed | not disclosed | not disclosed | not disclosed |
| Cass Information Systems | not disclosed | PSU 60 · RSU 40 | No | Pay Governance |
| Community Trust Bancorp | 75% | Cash LTI 100 | No | Pearl Meyer |
| Financial Institutions | 104.4% | RSU 50 · PSU 50 | No | not disclosed |
| First Business Financial Services, Inc. | 134% | PSU 60 · RSU 40 | Yes — Total Shareholder Return (TSR) | McLagan |
| First Mid Bancshares | not disclosed | not disclosed | not disclosed | Blanchard Consulting |
| First Western Financial | 56% | PSU 88 · RSU 12 | No | Alvarez & Marsal |
| German American Bancorp | 67% | RSU 100 | No | BCG |
| Great Southern Bancorp | not disclosed | Option 100 | not disclosed | Pearl Meyer & Partners, LLC |
| Horizon Bancorp | not disclosed | not disclosed | not disclosed | Pearl Meyer |
| Independent Bank Corporation | 70% | RSU 50 · PSU 50 | Yes — Total Shareholder Return (TSR) relative to Peer Group | Meridian Compensation Partners, LLC |
| Lakeland Financial Corporation | 106% | PSU 60 · RSU 40 | No | Pearl Meyer & Partners |
| Midland States Bancorp, Inc. | 40% | RSU 100 | not disclosed | Pearl Meyer & Partners, LLC |
| Northpointe Bancshares, Inc. | not disclosed | RSU 100 | not disclosed | Frederic W. Cook & Co. |
| Peoples Bancorp Inc. | 60% | RSU 100 | No | Pay Governance |
| QCR Holdings, Inc. | not disclosed | RSU 100 | not disclosed | Frederic W. Cook & Co., Inc. |
| S&T Bancorp, Inc. | 119% | RSU 50 · PSU 50 | No | Aon |
| Stock Yards Bancorp | 200% | PSU 75 · Options 25 | No | Aon's Human Capital Solutions |
| Univest Financial | 122.9% | PSU 70 · RSU 30 | No | Aon plc |
| Waterstone Financial | not disclosed | PSU 100 | No | Meridian Compensation Partners, LLC |
| Westwood Holdings | 119.4% | RSU 100 | not disclosed | McLagan Partners |
Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Katie Lorenson | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “SUMMARY COMPENSATION TABLE”. As printed: 1,630,180. Filing ↗machine: span 526881–526890 |
| 2 | Section 01, Jim Collins | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “SUMMARY COMPENSATION TABLE”. As printed: 967,397. Filing ↗machine: span 549446–549453 |
| 3 | Section 01, Karin Taylor | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “SUMMARY COMPENSATION TABLE”. As printed: 848,787. Filing ↗machine: span 561132–561139 |
| 4 | Section 01, Forrest Wilson | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “SUMMARY COMPENSATION TABLE”. As printed: 816,197. Filing ↗machine: span 572868–572875 |
| 5 | Section 01, Alan Villalon | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “SUMMARY COMPENSATION TABLE”. As printed: 768,688. Filing ↗machine: span 538608–538615 |
| 6 | Section 03, Katie Lorenson PSU | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t127 · r5 · c33 · span 644363–644370 |
| 7 | Section 03, Katie Lorenson RSU | DEF 14A | — | 0001437749-26-010883 | Section “Outstanding Equity Awards at Fiscal Year-End Table” · grants of plan-based awards table. Filing ↗machine: t127 · r4 · c29 · span 636864–636869 |
| 8 | Section 03, Karin Taylor PSU | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t127 · r14 · c33 · span 697588–697594 |
| 9 | Section 03, Jim Collins RSU | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t127 · r10 · c33 · span 672953–672959 |
| 10 | Section 03, Forrest Wilson PSU | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t127 · r17 · c33 · span 713829–713835 |
| 11 | Section 03, Forrest Wilson RSU | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t127 · r16 · c33 · span 708432–708438 |
| 12 | Section 03, Alan Villalon RSU | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t127 · r7 · c33 · span 655213–655219 |
| 13 | Section 03, Alan Villalon PSU | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t127 · r8 · c33 · span 662106–662112 |
| 14 | Section 03, Jim Collins PSU | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t127 · r11 · c33 · span 679846–679853 |
| 15 | Section 03, Karin Taylor RSU | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t127 · r13 · c33 · span 690695–690701 |
| 16 | Section 07, pay ratio | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “CEO Pay Ratio”. As printed: 21 : 1. Filing ↗machine: span 877251–877263 |
| 17 | Section 08, Daniel E. Coughlin | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “Director Compensation”. As printed: 124,999. Filing ↗machine: t76 · r1 · c11 · span 304753–304760 |
| 18 | Section 08, Galen G. Vetter | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “Director Compensation”. As printed: 105,249. Filing ↗machine: t76 · r3 · c11 · span 310149–310156 |
| 19 | Section 08, Mary E. Zimmer | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “Director Compensation”. As printed: 102,249. Filing ↗machine: t76 · r5 · c11 · span 315543–315550 |
| 20 | Section 08, Janet O. Estep | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “Director Compensation”. As printed: 101,999. Filing ↗machine: t76 · r4 · c11 · span 312846–312853 |
| 21 | Section 08, Randy L. Newman | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “Director Compensation”. As printed: 101,999. Filing ↗machine: t76 · r2 · c11 · span 307451–307458 |
| 22 | Section 08, Jeffrey W. Bolton | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “Director Compensation”. As printed: 93,999. Filing ↗machine: t76 · r8 · c11 · span 323631–323637 |
| 23 | Section 08, Nikki L. Sorum | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “Director Compensation”. As printed: 93,999. Filing ↗machine: t76 · r7 · c11 · span 320932–320938 |
| 24 | Section 08, John Uribe | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “Director Compensation”. As printed: 93,999. Filing ↗machine: t76 · r6 · c11 · span 318236–318242 |
| 25 | Section 08, Katie A. Lorenson | DEF 14A | 2026-04-01 | 0001437749-26-010883 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 26 | Section 02, John Uribe 2026-05-22 | Form 4 | 2026-05-27 | 0001437749-26-018554 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Galen G. Vetter 2026-05-22 | Form 4 | 2026-05-27 | 0001437749-26-018556 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Janet O. Estep 2026-05-22 | Form 4 | 2026-05-27 | 0001437749-26-018555 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Nikki L. Sorum 2026-05-22 | Form 4 | 2026-05-27 | 0001437749-26-018552 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Randy L. Newman 2026-05-22 | Form 4 | 2026-05-27 | 0001437749-26-018551 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 02, Daniel E. Coughlin 2026-05-22 | Form 4 | 2026-05-27 | 0001437749-26-018558 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 32 | Section 02, Jeffrey W. Bolton 2026-05-22 | Form 4 | 2026-05-27 | 0001437749-26-018557 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 33 | Section 02, Mary E. Zimmer 2026-05-22 | Form 4 | 2026-05-27 | 0001437749-26-018553 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 02, Jeffrey W. Bolton 2026-05-27 | Form 4 | 2026-05-29 | 0001437749-26-018873 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 35 | Section 02, Kari Koob 2026-07-01 | Form 4 | 2026-07-01 | 0001437749-26-022283 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 36 | Section 02, Kari Koob 2026-07-03 | Form 4 | 2026-07-06 | 0001437749-26-022762 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 37 | Section 06, 2026 vote | Form 8-K | 2026-05-15 | 0001437749-26-017369 | Item 5.07 · say-on-pay result. As reported: 96.69% (votes for as printed: 13,525,678). Filing ↗ |
| 38 | Section 06, 2025 vote | Form 8-K | 2025-05-12 | 0001437749-25-016117 | Item 5.07 · say-on-pay result. As reported: 93.35% (votes for as printed: 14,905,585). Filing ↗ |
| 39 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 40 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 41 | Section 09b board cost (computed) | Computed | — | computed | Cash 418,500 + equity 399,992 + all other 0 = 818,492, summed across the director compensation table rows.machine: formula: Σ = 818,492 |
| 42 | Northpointe Bancshares, Inc., Section 10b CEO total | DEF 14A | 2026-03-31 | 0001336706-26-000023 | CEO total compensation as printed in Northpointe Bancshares, Inc.'s own proxy. As printed: 7,948,432. Filing ↗machine: r2 · c42 · span 247453–247462 |
| 43 | Stock Yards Bancorp, Section 10b CEO total | DEF 14A | 2026-03-12 | 0001437749-26-007879 | CEO total compensation as printed in Stock Yards Bancorp's own proxy. As printed: 3,380,337. Filing ↗machine: r3 · c32 · span 991255–991264 |
| 44 | First Western Financial, Section 10b CEO total | DEF 14A | 2026-04-24 | 0001628280-26-027213 | CEO total compensation as printed in First Western Financial's own proxy. As printed: 2,645,442. Filing ↗machine: span 426725–426734 |
| 45 | Westwood Holdings, Section 10b CEO total | DEF 14A | 2026-03-13 | 0001165002-26-000026 | CEO total compensation as printed in Westwood Holdings's own proxy. As printed: 2,634,720. Filing ↗machine: r3 · c42 · span 330902–330911 |
| 46 | Lakeland Financial Corporation, Section 10b CEO total | DEF 14A | 2026-03-05 | 0000721994-26-000036 | CEO total compensation as printed in Lakeland Financial Corporation's own proxy. As printed: 2,473,892. Filing ↗machine: span 916200–916209 |
| 47 | S&T Bancorp, Inc., Section 10b CEO total | DEF 14A | 2026-03-30 | 0001193125-26-131720 | CEO total compensation as printed in S&T Bancorp, Inc.'s own proxy. As printed: 2,398,854. Filing ↗machine: r2 · c31 · span 570969–570978 |
| 48 | Financial Institutions, Section 10b CEO total | DEF 14A | 2026-04-06 | 0001193125-26-143723 | CEO total compensation as printed in Financial Institutions's own proxy. As printed: 2,385,669. Filing ↗machine: r4 · c21 · span 1897204–1897213 |
| 49 | 1st Source Corporation, Section 10b CEO total | DEF 14A | 2026-03-13 | 0000034782-26-000021 | CEO total compensation as printed in 1st Source Corporation's own proxy. As printed: 2,190,564. Filing ↗machine: t33 · r8 · c10 · span 732069–732078 |
| 50 | First Mid Bancshares, Section 10b CEO total | DEF 14A | 2026-03-17 | 0001193125-26-109951 | CEO total compensation as printed in First Mid Bancshares's own proxy. As printed: 2,109,337. Filing ↗machine: r2 · c12 · span 869694–869704 |
| 51 | Univest Financial, Section 10b CEO total | DEF 14A | 2026-03-13 | 0000102212-26-000015 | CEO total compensation as printed in Univest Financial's own proxy. As printed: 2,097,674. Filing ↗machine: r2 · c51 · span 398636–398645 |
| 52 | German American Bancorp, Section 10b CEO total | DEF 14A | 2026-03-18 | 0001104659-26-030015 | CEO total compensation as printed in German American Bancorp's own proxy. As printed: 2,068,536. Filing ↗machine: span 816342–816351 |
| 53 | Cass Information Systems, Section 10b CEO total | DEF 14A | 2026-03-06 | 0000708781-26-000013 | CEO total compensation as printed in Cass Information Systems's own proxy. As printed: 2,046,984. Filing ↗machine: r2 · c21 · span 469313–469322 |
| 54 | Horizon Bancorp, Section 10b CEO total | DEF 14A | 2026-03-20 | 0000706129-26-000033 | CEO total compensation as printed in Horizon Bancorp's own proxy. As printed: 1,965,115. Filing ↗machine: span 583985–583994 |
| 55 | Great Southern Bancorp, Section 10b CEO total | DEF 14A | 2026-03-31 | 0002077096-26-000017 | CEO total compensation as printed in Great Southern Bancorp's own proxy. As printed: 1,815,277. Filing ↗machine: span 320537–320546 |
| 56 | Bank First Corporation, Section 10b CEO total | DEF 14A | 2026-04-24 | 0001104659-26-048526 | CEO total compensation as printed in Bank First Corporation's own proxy. As printed: 1,800,787. Filing ↗machine: t29 · r1 · c43 · span 725655–725664 |
| 57 | QCR Holdings, Inc., Section 10b CEO total | DEF 14A | 2026-04-09 | 0001171843-26-002356 | CEO total compensation as printed in QCR Holdings, Inc.'s own proxy. As printed: 1,713,726. Filing ↗machine: span 516480–516489 |
| 58 | Community Trust Bancorp, Section 10b CEO total | DEF 14A | 2026-03-18 | 0001140361-26-009965 | CEO total compensation as printed in Community Trust Bancorp's own proxy. As printed: 1,639,760. Filing ↗machine: t117 · r1 · c6 · span 440283–440292 |
| 59 | Alerus Financial Corp (subject), Section 10b CEO total | DEF 14A | 2026-04-01 | 0001437749-26-010883 | CEO total compensation as printed in Alerus Financial Corp's own proxy. As printed: 1,630,180. Filing ↗machine: span 526881–526890 |
| 60 | Independent Bank Corporation, Section 10b CEO total | DEF 14A | 2026-03-06 | 0000039311-26-000011 | CEO total compensation as printed in Independent Bank Corporation's own proxy. As printed: 1,558,390. Filing ↗machine: t19 · r2 · c12 · span 361242–361252 |
| 61 | Midland States Bancorp, Inc., Section 10b CEO total | DEF 14A | 2026-03-23 | 0001104659-26-033298 | CEO total compensation as printed in Midland States Bancorp, Inc.'s own proxy. As printed: 1,532,241. Filing ↗machine: r1 · c35 · span 487815–487824 |
| 62 | Peoples Bancorp Inc., Section 10b CEO total | DEF 14A | 2026-03-06 | 0000318300-26-000104 | CEO total compensation as printed in Peoples Bancorp Inc.'s own proxy. As printed: 1,500,327. Filing ↗machine: t174 · r4 · c19 · span 1008838–1008848 |
| 63 | Waterstone Financial, Section 10b CEO total | DEF 14A | 2026-04-09 | 0001437749-26-011833 | CEO total compensation as printed in Waterstone Financial's own proxy. As printed: 785,156. Filing ↗machine: t109 · r2 · c7 · span 444080–444087 |
| 64 | First Business Financial Services, Inc., Section 10b CEO total | DEF 14A | 2026-03-05 | 0001193125-26-092613 | CEO total compensation as printed in First Business Financial Services, Inc.'s own proxy. As printed: 620,487. Filing ↗machine: r14 · c16 · span 1114517–1114525 |
| 65 | Section 10a, Cass Information Systems reciprocity | DEF 14A | — | 0000708781-26-000013 | Cass Information Systems names Alerus Financial Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 66 | Section 10a, 1st Source Corporation reciprocity | DEF 14A | — | 0000034782-26-000021 | 1st Source Corporation's most recent proxy was read; its disclosed peer group does not include Alerus Financial Corp. Filing ↗ |
| 67 | Section 10a, S&T Bancorp, Inc. reciprocity | DEF 14A | — | 0001193125-26-131720 | S&T Bancorp, Inc.'s most recent proxy was read; its disclosed peer group does not include Alerus Financial Corp. Filing ↗ |
| 68 | Section 10a, First Western Financial reciprocity | DEF 14A | — | 0001628280-26-027213 | First Western Financial names Alerus Financial Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 69 | Section 10a, Community Trust Bancorp reciprocity | DEF 14A | — | 0001140361-26-009965 | Community Trust Bancorp's most recent proxy was read; its disclosed peer group does not include Alerus Financial Corp. Filing ↗ |
| 70 | Section 10a, First Business Financial Services, Inc. reciprocity | DEF 14A | — | 0001193125-26-092613 | First Business Financial Services, Inc.'s most recent proxy was read; its disclosed peer group does not include Alerus Financial Corp. Filing ↗ |
| 71 | Section 10a, Peoples Bancorp Inc. reciprocity | DEF 14A | — | 0000318300-26-000104 | Peoples Bancorp Inc.'s most recent proxy was read; its disclosed peer group does not include Alerus Financial Corp. Filing ↗ |
| 72 | Section 10a, Independent Bank Corporation reciprocity | DEF 14A | — | 0000039311-26-000011 | Independent Bank Corporation names Alerus Financial Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 73 | Section 10a, QCR Holdings, Inc. reciprocity | DEF 14A | — | 0001171843-26-002356 | QCR Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Alerus Financial Corp. Filing ↗ |
| 74 | Section 10a, Bank First Corporation reciprocity | DEF 14A | — | 0001104659-26-048526 | Bank First Corporation names Alerus Financial Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 75 | Section 10a, First Mid Bancshares reciprocity | DEF 14A | — | 0001193125-26-109951 | First Mid Bancshares names Alerus Financial Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 76 | Section 10a, Lakeland Financial Corporation reciprocity | DEF 14A | — | 0000721994-26-000036 | Lakeland Financial Corporation's most recent proxy was read; its disclosed peer group does not include Alerus Financial Corp. Filing ↗ |
| 77 | Section 10a, Midland States Bancorp, Inc. reciprocity | DEF 14A | — | 0001104659-26-033298 | Midland States Bancorp, Inc.'s most recent proxy was read; its disclosed peer group does not include Alerus Financial Corp. Filing ↗ |
| 78 | Section 10a, German American Bancorp reciprocity | DEF 14A | — | 0001104659-26-030015 | German American Bancorp's most recent proxy was read; its disclosed peer group does not include Alerus Financial Corp. Filing ↗ |
| 79 | Section 10a, Stock Yards Bancorp reciprocity | DEF 14A | — | 0001437749-26-007879 | Stock Yards Bancorp's most recent proxy was read; its disclosed peer group does not include Alerus Financial Corp. Filing ↗ |
| 80 | Section 10a, Financial Institutions reciprocity | DEF 14A | — | 0001193125-26-143723 | Financial Institutions's most recent proxy was read; its disclosed peer group does not include Alerus Financial Corp. Filing ↗ |
| 81 | Section 10a, Waterstone Financial reciprocity | DEF 14A | — | 0001437749-26-011833 | Waterstone Financial's most recent proxy was read; its disclosed peer group does not include Alerus Financial Corp. Filing ↗ |
| 82 | Section 10a, Horizon Bancorp reciprocity | DEF 14A | — | 0000706129-26-000033 | Horizon Bancorp's most recent proxy was read; its disclosed peer group does not include Alerus Financial Corp. Filing ↗ |