Director Randy L. Newman Receives 1,772 Restricted Shares in Alerus Financial Corp

This Form 4 filing reports that Randy L. Newman, a director of Alerus Financial Corporation, received 1,772 shares of restricted common stock on May 22, 2026, as part of an annual director award under the company's 2019 Equity Incentive Plan. The shares were acquired at $0 per share. Following this transaction, Newman directly holds 309,886 shares. Additionally, the filing discloses indirect holdings through various trusts: 156,705 shares held by the Anita D. Newman Revocable Living Trust, 339,765 shares held by the Anita D. Newman 2021 GST Trust, and 2,000 shares held jointly with his spouse. The total disclosed holdings across direct and indirect ownership amount to 808,356 shares. The filing was signed by Nicholas Brenckman via power of attorney on May 27, 2026.