secwatch.observer — SEC 8-K summary
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Issuer:     ALERUS FINANCIAL CORP (ALRS)
CIK:        0000903419
Form:       8-K
Filed at:   2022-05-31T23:59:59+00:00
Accession:  0001104659-22-066667
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Alerus names Jim Collins as Chief Banking and Revenue Officer
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- Jim Collins appointed EVP and Chief Banking and Revenue Officer, effective May 31, 2022.
- Collins previously served as Minnesota regional CEO and president of corporate banking at Old National Bank; held senior roles at Anchor Bank for 13+ years.
- Compensation includes base salary, bonus potential, cash signing bonus, and restricted stock grant vesting over three years starting Dec 2023.
- Entered Executive Severance Agreement: severance equal to 100% base salary plus average of three most recent annual bonuses upon termination without cause.
- Collins will lead all revenue-related activities including balance sheet growth, client solutions, segmentation, and client servicing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/903419/000110465922066667/0001104659-22-066667-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/903419/000110465922066667/tm2217193d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-066667

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