secwatch.observer — SEC 8-K summary
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Issuer:     ALERUS FINANCIAL CORP (ALRS)
CIK:        0000903419
Form:       8-K
Filed at:   2021-09-20T23:59:59+00:00
Accession:  0001104659-21-117361
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Alerus Financial CEO Randy Newman to retire; CFO Katie Lorenson named successor effective Jan 1, 2022
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- Randy Newman retires as Pres/CEO Jan 1, 2022; will be Executive Chairman until 2022 annual meeting.
- Katie A. Lorenson (current EVP/CFO) named President & CEO effective Jan 1, 2022; also joins Board. Base salary $550,000, bonus target 50% of base.
- Newman had been with Alerus since 1981, became CEO in 1995; grew net income from $5.1M (1995) to $44.7M (2020).
- Company will conduct a search for a new CFO, considering both internal and external candidates.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/903419/000110465921117361/0001104659-21-117361-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/903419/000110465921117361/tm2127984d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-117361

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer