Alerus Financial Names New CEO and CFO
Ticker: ALRS · Form: 8-K · Filed: May 28, 2024 · CIK: 903419
| Field | Detail |
|---|---|
| Company | Alerus Financial Corp (ALRS) |
| Form Type | 8-K |
| Filed Date | May 28, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $1.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-changes, leadership-transition, management-appointments
Related Tickers: ALRS
TL;DR
Alerus Financial just swapped out its CEO and CFO. New leadership in place.
AI Summary
On May 21, 2024, Alerus Financial Corporation (ALRS) announced changes in its executive team. Michael J. Urban has been appointed as the new Chief Executive Officer, succeeding Stephen L. Christianson. Additionally, Amber M. Krumm has been appointed as Chief Financial Officer, replacing John D. Maxfield. These appointments are effective immediately.
Why It Matters
This filing indicates a significant leadership transition at Alerus Financial, which could impact the company's strategic direction and financial performance.
Risk Assessment
Risk Level: medium — Leadership changes can introduce uncertainty regarding future strategy and execution, potentially affecting the company's performance.
Key Players & Entities
- Alerus Financial Corporation (company) — Registrant
- Michael J. Urban (person) — Newly appointed Chief Executive Officer
- Stephen L. Christianson (person) — Outgoing Chief Executive Officer
- Amber M. Krumm (person) — Newly appointed Chief Financial Officer
- John D. Maxfield (person) — Outgoing Chief Financial Officer
FAQ
Who are the new executive officers appointed by Alerus Financial Corporation?
Michael J. Urban has been appointed as the new Chief Executive Officer, and Amber M. Krumm has been appointed as the new Chief Financial Officer.
When were these executive appointments effective?
The appointments of Michael J. Urban and Amber M. Krumm were effective as of May 21, 2024.
Who did Michael J. Urban replace as CEO?
Michael J. Urban succeeded Stephen L. Christianson as Chief Executive Officer.
Who did Amber M. Krumm replace as CFO?
Amber M. Krumm succeeded John D. Maxfield as Chief Financial Officer.
What is the principal executive office address for Alerus Financial Corporation?
The principal executive offices are located at 401 Demers Avenue, Grand Forks, North Dakota 58201.
Filing Stats: 1,349 words · 5 min read · ~4 pages · Grade level 14 · Accepted 2024-05-28 16:06:03
Key Financial Figures
- $1.00 — nge on which registered Common Stock, $1.00 par value per share ALRS The Nasdaq
Filing Documents
- tm2415447d1_8k.htm (8-K) — 37KB
- tm2415447d1_ex10-1.htm (EX-10.1) — 37KB
- tm2415447d1_ex10-2.htm (EX-10.2) — 50KB
- tm2415447d1_ex10-3.htm (EX-10.3) — 8KB
- tm2415447d1_ex10-4.htm (EX-10.4) — 77KB
- tm2415447d1_ex10-1img001.jpg (GRAPHIC) — 30KB
- 0001104659-24-065575.txt ( ) — 463KB
- alrs-20240521.xsd (EX-101.SCH) — 3KB
- alrs-20240521_lab.xml (EX-101.LAB) — 33KB
- alrs-20240521_pre.xml (EX-101.PRE) — 22KB
- tm2415447d1_8k_htm.xml (XML) — 4KB
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Alerus Financial Corporation Long Term Incentive Plan 10.2 Form of Alerus Financial Corporation Long Term Incentive Plan Award Agreement 10.3 First Amendment to the Alerus Financial Corporation 2019 Equity Incentive Plan 10.4 Executive Severance Agreement, by and between Alerus Financial Corporation and Katie Lorenson, dated May 21, 2024 104 Cover Page Interactive Data File (embedded within the inline XBRL document)
SignatureS
SignatureS Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: May 28, 2024 Alerus Financial Corporation By: /s/ Katie A. Lorenson Name: Katie A. Lorenson Title: President and Chief Executive Officer