Alerus Financial (ALRS) Proxy Filing summary

Executive summary

• Annual meeting scheduled for May 8, 2025, to be held virtually for shareholder participation.

• Proxy materials, including the annual report and proxy statement, are available online for review before voting.

Voting matters and shareholder proposals

• Election of nine directors is up for shareholder vote.

• Advisory vote on executive compensation and frequency of future say-on-pay votes included.

• Ratification of RSM US LLP as independent auditor for fiscal year ending December 31, 2025.

• Proposal to amend the certificate of incorporation to increase authorized common stock.

• Board recommends voting for all director nominees, for executive compensation, for annual say-on-pay, for auditor ratification, and for the amendment to increase authorized shares.

Board of directors and corporate governance

• Nominees for director positions include Daniel E. Coughlin, Randy L. Newman, Galen G. Vetter, Katie A. Lorenson, Janet O. Estep, Mary E. Zimmer, Nikki L. Sorum, John Uribe, and Jeffrey W. Bolton.