Item 8.01. Other Events.
On February 19, 2020, Alerus Financial Corporation (the "Company") declared a
cash dividend of $0.15 per share of its common stock. The dividend is payable on
April 10, 2020, to stockholders of record on March 20, 2020. A copy of the press
release issued on February 19, 2020, announcing the dividend is attached as
Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
On February 19, 2020, the Compensation Committee of the Board of Directors of
the Company approved grants of performance-based restricted stock units to
certain senior executive officers of the Company. The grants were made pursuant
to a Performance-Based Restricted Stock Unit Award Agreement under the Alerus
Financial Corporation 2019 Equity Incentive Plan. A form of the award agreement
is attached as Exhibit 10.1 to this Form 8-K and is incorporated herein by
reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
10.1 Form of Performance-Based Restricted Stock Unit Award Agreement under
the Alerus Financial Corporation 2019 Equity Incentive Plan.
99.1 Press Release of Alerus Financial Corporation, dated February 19,
2020.
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