Alerus Financial Corp. Announces 2024 Annual Meeting of Stockholders

Ticker: ALRS · Form: DEF 14A · Filed: Mar 25, 2024 · CIK: 903419

Alerus Financial Corp DEF 14A Filing Summary
FieldDetail
CompanyAlerus Financial Corp (ALRS)
Form TypeDEF 14A
Filed DateMar 25, 2024
Risk Levellow
Pages16
Reading Time20 min
Key Dollar Amounts$1.00
Sentimentneutral

Sentiment: neutral

Topics: proxy statement, annual meeting, stockholders, directors, auditor

TL;DR

<b>Alerus Financial Corporation will hold its virtual annual meeting on May 7, 2024, to elect directors and ratify auditors.</b>

AI Summary

ALERUS FINANCIAL CORP (ALRS) filed a Proxy Statement (DEF 14A) with the SEC on March 25, 2024. Annual meeting scheduled for May 7, 2024, at 1:30 p.m. Central Time, conducted virtually. Stockholders of record as of March 12, 2024, are entitled to vote. Eight director nominees will be presented for election. RSM US LLP is proposed for ratification as the independent public accounting firm for fiscal year 2024. The meeting will address other business as properly brought before it.

Why It Matters

For investors and stakeholders tracking ALERUS FINANCIAL CORP, this filing contains several important signals. This filing is a proxy statement (DEF 14A) detailing the agenda and procedures for the annual shareholder meeting. Key decisions regarding board composition and auditor appointment will be made by shareholders.

Risk Assessment

Risk Level: low — ALERUS FINANCIAL CORP shows low risk based on this filing. The filing is a routine proxy statement with no immediate financial or operational disclosures that would indicate high risk.

Analyst Insight

Review the director nominees and auditor ratification to inform voting decisions.

Key Numbers

  • 8 — Director Nominees (Number of director nominees to be elected)
  • 2024 — Fiscal Year End (Fiscal year for which RSM US LLP is proposed as auditor)

Key Players & Entities

  • ALERUS FINANCIAL CORP (company) — Registrant
  • RSM US LLP (company) — independent public accounting firm
  • May 7, 2024 (date) — Annual meeting date
  • March 12, 2024 (date) — Record date for voting
  • 401 Demers Ave (address) — Company headquarters
  • Grand Forks, North Dakota (location) — Company headquarters location

FAQ

When did ALERUS FINANCIAL CORP file this DEF 14A?

ALERUS FINANCIAL CORP filed this Proxy Statement (DEF 14A) with the SEC on March 25, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by ALERUS FINANCIAL CORP (ALRS).

Where can I read the original DEF 14A filing from ALERUS FINANCIAL CORP?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by ALERUS FINANCIAL CORP.

What are the key takeaways from ALERUS FINANCIAL CORP's DEF 14A?

ALERUS FINANCIAL CORP filed this DEF 14A on March 25, 2024. Key takeaways: Annual meeting scheduled for May 7, 2024, at 1:30 p.m. Central Time, conducted virtually.. Stockholders of record as of March 12, 2024, are entitled to vote.. Eight director nominees will be presented for election..

Is ALERUS FINANCIAL CORP a risky investment based on this filing?

Based on this DEF 14A, ALERUS FINANCIAL CORP presents a relatively low-risk profile. The filing is a routine proxy statement with no immediate financial or operational disclosures that would indicate high risk.

What should investors do after reading ALERUS FINANCIAL CORP's DEF 14A?

Review the director nominees and auditor ratification to inform voting decisions. The overall sentiment from this filing is neutral.

How does ALERUS FINANCIAL CORP compare to its industry peers?

Alerus Financial Corporation operates within the national commercial banking sector.

Are there regulatory concerns for ALERUS FINANCIAL CORP?

The filing is made under Rule 14a-101 of the Securities Exchange Act of 1934, governing proxy statements.

Industry Context

Alerus Financial Corporation operates within the national commercial banking sector.

Regulatory Implications

The filing is made under Rule 14a-101 of the Securities Exchange Act of 1934, governing proxy statements.

What Investors Should Do

  1. Review the list of director nominees and their qualifications.
  2. Evaluate the proposed independent auditor, RSM US LLP.
  3. Understand the virtual meeting procedures and how to cast your vote.

Key Dates

  • 2024-05-07: Annual Meeting of Stockholders — Key date for voting on director nominees and auditor ratification.
  • 2024-03-12: Record Date — Determines which stockholders are eligible to vote at the annual meeting.
  • 2024-03-25: Filing Date — Date the DEF 14A proxy statement was filed with the SEC.

Year-Over-Year Comparison

This is a DEF 14A filing for the 2024 annual meeting, following standard SEC proxy statement requirements.

Filing Stats: 4,916 words · 20 min read · ~16 pages · Grade level 11.8 · Accepted 2024-03-25 09:00:14

Key Financial Figures

  • $1.00 — d shares of the Company's common stock, $1.00 par value per share (the " Common Stock

Filing Documents

Executive Compensation

Executive Compensation 22

Security Ownership of Certain Beneficial Owners

Security Ownership of Certain Beneficial Owners 27 Certain Relationships and Related Party Transactions 28 Proposal 2 — Ratification of the Appointment of RSM US LLP as our Independent Registered Public Accounting Firm 30 Audit Committee Report 32 Table of Contents ALERUS FINANCIAL CORPORATION PROXY STATEMENT Annual Meeting of Stockholders May 7, 2024 This proxy statement (this " Proxy Statement ") is furnished in connection with the solicitation by the board of directors (the " Board ") of Alerus Financial Corporation (the " Company ") of proxies to be voted at the annual meeting of stockholders (the " Annual Meeting ") to be held virtually on Tuesday, May 7, 2024, at 1:30 p.m. (Central Time), and at any adjournments or postponements of the Annual Meeting. A complete list of the stockholders entitled to vote at the Annual Meeting will be available for inspection upon request of any stockholder, for a purpose germane to the Annual Meeting, at the Company's principal executive offices, located at 401 Demers Avenue, Grand Forks, North Dakota 58201, during the ten days prior to the meeting, during ordinary business hours, and during the meeting. We are holding the Annual Meeting virtually. As always, we encourage you to vote your shares prior to the Annual Meeting. The Company is a Delaware corporation headquartered in Grand Forks, North Dakota. The Company is a registered financial holding company, which owns all the issued and outstanding capital stock of Alerus Financial, National Association, a national banking association with its main office also located in Grand Forks, North Dakota (the " Bank "). Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting to be Held on May 7,2024: We are using the Securities and Exchange Commission ("SEC") rule that allows us to furnish our Proxy Statement, Annual Report on Form 10-K for the year ended December 31, 2023 and proxy card to stockholders over the internet. This m

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