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ALERUS FINANCIAL CORP. 2024-2025 Proxy Voting Records

Compiled from SEC Form N-PX filings and ALERUS FINANCIAL CORP.’s Form 8-K, filed May 12, 2025 (Item 5.07 on EDGAR). Page generated October 14, 2026.

15Reported items
150Asset managers
2,508Fund votes
May 8, 2025Main meeting date

Results at a glance

Meeting of May 8, 2025: 12 items on ALERUS FINANCIAL CORP.’s Form 8-K, filed May 12, 2025: 12 without a stated outcome.

Meeting of September 12, 2024: 2 items on ALERUS FINANCIAL CORP.’s Form 8-K, filed September 13, 2024: 2 without a stated outcome.

Material dissent

Elect Director: Randy L. Newman 75% of votes cast Outcome not stated Director under 80%
Elect Director: John Uribe 48.5% of votes cast Outcome not stated Director under 80%

Material dissent: a director nominee under 80% of the votes cast, say-on-pay under 70%, any other item the board put forward under 80%, or a shareholder proposal with more than 50%, on the company’s own Form 8-K tally. How this is decided

Proxy season: 2024-2025 2025-2026

Explore ALERUS FINANCIAL CORP. in the interactive database Compare manager voting policies

Official 2024-2025 meeting results reported by ALERUS FINANCIAL CORP.

These tallies are ALERUS FINANCIAL CORP.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K, filed May 12, 2025 (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX. ALERUS FINANCIAL CORP. reported 2 meetings in this season; each is tabulated separately below, with its own filing.

ALERUS FINANCIAL CORP. — official shareholder meeting results, meeting held May 8, 2025 (Form 8-K, filed May 12, 2025)
Ballot item	For	Against	Abstain	Withheld	Broker non-votes	Support (of votes cast)	Reported outcome	Voting standard
Elect Director: Daniel E. Coughlin	15,047,954	--	--	1,377,042	5,340,967	92%	Not verified	—
Elect Director: Randy L. Newman	12,355,613	--	--	4,069,383	5,340,967	75%	Not verified	—
Elect Director: Galen G. Vetter	14,946,333	--	--	1,478,663	5,340,967	91%	Not verified	—
Elect Director: Katie A. Lorenson	15,036,204	--	--	1,388,792	5,340,967	92%	Not verified	—
Elect Director: Janet O. Estep	15,039,227	--	--	1,385,769	5,340,967	92%	Not verified	—
Elect Director: Mary E. Zimmer	15,052,061	--	--	1,372,935	5,340,967	92%	Not verified	—
Elect Director: Nikki L. Sorum	15,077,456	--	--	1,347,540	5,340,967	92%	Not verified	—
Elect Director: John Uribe	7,960,827	--	--	8,464,169	5,340,967	48.5%	Not verified	—
Elect Director: Jeffrey W. Bolton	14,973,535	--	--	1,451,461	5,340,967	91%	Not verified	—
2. For the approval, on a non-binding advisory basis, of the 2024 compensation paid to the Company's named executive officers	14,905,585	1,062,448	456,962	--	5,340,967	93%	Not verified	—
4. The ratification of the appointment of RSM US LLP as the Company's independent registered public accounting firm for the year ending December 31, 2025	21,177,556	95,046	493,361	--	--	99.5%	Not verified	—
5. For the approval of the Amendment to increase the number of authorized shares of Company Common Stock authorized for issuance	20,294,997	1,154,555	316,411	--	--	95%	Not verified	—

Source: ALERUS FINANCIAL CORP., Form 8-K, filed with the SEC on May 12, 2025 — read the filing on EDGAR.

ALERUS FINANCIAL CORP. — official shareholder meeting results, meeting held September 12, 2024 (Form 8-K, filed September 13, 2024)
Ballot item	For	Against	Abstain	Withheld	Broker non-votes	Support (of votes cast)	Reported outcome	Voting standard
1. The approval and adoption of the Merger Agreement, pursuant to which HMNF will merge with and into the Company, and the transactions contemplated therein, including the issuance of Company common stock pursuant to the Merger Agreement (the "Merger Proposal"	14,996,524	186,220	144,559	--	0	99%	Not verified	—
2. The approval of the adjournment of the Special Meeting to permit further solicitation in the event that an insufficient number of votes are cast to approve the Merger Proposal	14,457,073	698,480	171,749	--	0	95%	Not verified	—

Source: ALERUS FINANCIAL CORP., Form 8-K, filed with the SEC on September 13, 2024 — read the filing on EDGAR.

How asset managers voted at the ALERUS FINANCIAL CORP. 2024-2025 meetings

Each item below shows how the 150 asset managers that disclosed a ALERUS FINANCIAL CORP. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of ALERUS FINANCIAL CORP.’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Elect Director: Daniel E. Coughlin

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Meeting held May 8, 2025.

Combines 4 wordings of this item as funds reported it.

92% Majority: yes · of votes cast

FOR 92%

FOR: 15,047,954WITHHELD: 1,377,042

Details: description as filed, official tally, votes by 50 asset managers

Description as filed by funds: Election of Directors: Daniel E. Coughlin

ALERUS FINANCIAL CORP.’s own tally for this item (“Elect Director: Daniel E. Coughlin”): 15,047,954 for, 1,377,042 withheld, per its Form 8-K filed May 12, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 92% of votes cast — FOR ÷ (FOR + WITHHELD); abstentions and broker non-votes are excluded.

The 50 asset managers below reported 4,545,148 for, 2,349 withheld, 16,326 abstained.

FOR

FOR: 4,545,148ABSTAIN: 16,326WITHHOLD: 2,349

Largest asset managers voting on “Election of Directors: Daniel E. Coughlin” at ALERUS FINANCIAL CORP., 2024-2025
Asset manager	For	Abstain	Vote
Vanguard	1,148,543	0	For
BlackRock	954,944	0	For
Dimensional	544,167	0	For
Fidelity	468,295	0	For
Columbia Threadneedle	331,303	0	For
Charles Schwab	187,672	0	For
American Century	126,934	0	For
Keeley Funds, Inc.	109,427	0	For
TRUST FOR PROFESSIONAL MANAGERS	96,441	0	For
TIAA	56,793	0	For
WisdomTree	56,028	0	For
SEI	49,887	0	For
Equitable	49,544	0	For
Federated Hermes	44,200	0	For
QUANTITATIVE MASTER SERIES LLC	38,267	0	For
State Street	34,585	0	For
Invesco	27,851	0	For
Goldman Sachs	23,595	0	For
Nationwide	20,094	0	For
Northern Lights Fund Trust IV	19,783	0	For
EA Series Trust	0	16,326	Abstain
Lincoln Financial	16,300	0	For
MASTER INVESTMENT PORTFOLIO	15,155	0	For
Global X	13,168	0	For
Pacific Life	12,920	0	For

Showing the 25 largest of 50 asset managers. See all 50 in the interactive database.

2. Elect Director: Galen G. Vetter

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Meeting held May 8, 2025.

Combines 4 wordings of this item as funds reported it.

91% Majority: yes · of votes cast

FOR 91%

FOR: 14,946,333WITHHELD: 1,478,663

Details: description as filed, official tally, votes by 50 asset managers

Description as filed by funds: Election of Directors: Galen G. Vetter

ALERUS FINANCIAL CORP.’s own tally for this item (“Elect Director: Galen G. Vetter”): 14,946,333 for, 1,478,663 withheld, per its Form 8-K filed May 12, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 91% of votes cast — FOR ÷ (FOR + WITHHELD); abstentions and broker non-votes are excluded.

The 50 asset managers below reported 4,563,341 for, 122 withheld, 360 abstained.

FOR

FOR: 4,563,341ABSTAIN: 360WITHHOLD: 122

Largest asset managers voting on “Election of Directors: Galen G. Vetter” at ALERUS FINANCIAL CORP., 2024-2025
Asset manager	For	Withheld	Vote
Vanguard	1,148,543	0	For
BlackRock	954,944	0	For
Dimensional	544,167	0	For
Fidelity	468,295	0	For
Columbia Threadneedle	331,303	0	For
Charles Schwab	187,672	0	For
American Century	126,934	0	For
Keeley Funds, Inc.	109,427	0	For
TRUST FOR PROFESSIONAL MANAGERS	96,441	0	For
TIAA	56,793	0	For
WisdomTree	56,028	0	For
SEI	49,887	0	For
Equitable	49,544	0	For
Federated Hermes	44,200	0	For
QUANTITATIVE MASTER SERIES LLC	38,267	0	For
State Street	34,544	41	For
Invesco	27,851	0	For
Goldman Sachs	23,595	0	For
Nationwide	20,094	0	For
Northern Lights Fund Trust IV	19,783	0	For
EA Series Trust	16,326	0	For
Lincoln Financial	16,300	0	For
MASTER INVESTMENT PORTFOLIO	15,155	0	For
Global X	13,168	0	For
Pacific Life	12,920	0	For

Showing the 25 largest of 50 asset managers. See all 50 in the interactive database.

3. Elect Director: Janet O. Estep

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Meeting held May 8, 2025.

Combines 4 wordings of this item as funds reported it.

92% Majority: yes · of votes cast

FOR 92%

FOR: 15,039,227WITHHELD: 1,385,769

Details: description as filed, official tally, votes by 50 asset managers

Description as filed by funds: Election of Directors: Janet O. Estep

ALERUS FINANCIAL CORP.’s own tally for this item (“Elect Director: Janet O. Estep”): 15,039,227 for, 1,385,769 withheld, per its Form 8-K filed May 12, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

The 50 asset managers below reported 4,545,148 for, 2,349 withheld, 16,326 abstained.

FOR

FOR: 4,545,148ABSTAIN: 16,326WITHHOLD: 2,349

Largest asset managers voting on “Election of Directors: Janet O. Estep” at ALERUS FINANCIAL CORP., 2024-2025
Asset manager	For	Abstain	Vote
Vanguard	1,148,543	0	For
BlackRock	954,944	0	For
Dimensional	544,167	0	For
Fidelity	468,295	0	For
Columbia Threadneedle	331,303	0	For
Charles Schwab	187,672	0	For
American Century	126,934	0	For
Keeley Funds, Inc.	109,427	0	For
TRUST FOR PROFESSIONAL MANAGERS	96,441	0	For
TIAA	56,793	0	For
WisdomTree	56,028	0	For
SEI	49,887	0	For
Equitable	49,544	0	For
Federated Hermes	44,200	0	For
QUANTITATIVE MASTER SERIES LLC	38,267	0	For
State Street	34,585	0	For
Invesco	27,851	0	For
Goldman Sachs	23,595	0	For
Nationwide	20,094	0	For
Northern Lights Fund Trust IV	19,783	0	For
EA Series Trust	0	16,326	Abstain
Lincoln Financial	16,300	0	For
MASTER INVESTMENT PORTFOLIO	15,155	0	For
Global X	13,168	0	For
Pacific Life	12,920	0	For

Showing the 25 largest of 50 asset managers. See all 50 in the interactive database.

4. Elect Director: Jeffrey W. Bolton

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Meeting held May 8, 2025.

Combines 4 wordings of this item as funds reported it.

91% Majority: yes · of votes cast

FOR 91%

FOR: 14,973,535WITHHELD: 1,451,461

Details: description as filed, official tally, votes by 50 asset managers

Description as filed by funds: Election of Directors: Jeffrey W. Bolton

ALERUS FINANCIAL CORP.’s own tally for this item (“Elect Director: Jeffrey W. Bolton”): 14,973,535 for, 1,451,461 withheld, per its Form 8-K filed May 12, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

The 50 asset managers below reported 4,519,623 for, 44,200 withheld.

FOR

FOR: 4,519,623WITHHOLD: 44,200

Largest asset managers voting on “Election of Directors: Jeffrey W. Bolton” at ALERUS FINANCIAL CORP., 2024-2025
Asset manager	For	Withheld	Vote
Vanguard	1,148,543	0	For
BlackRock	954,944	0	For
Dimensional	544,167	0	For
Fidelity	468,295	0	For
Columbia Threadneedle	331,303	0	For
Charles Schwab	187,672	0	For
American Century	126,934	0	For
Keeley Funds, Inc.	109,427	0	For
TRUST FOR PROFESSIONAL MANAGERS	96,441	0	For
TIAA	56,793	0	For
WisdomTree	56,028	0	For
SEI	49,887	0	For
Equitable	49,544	0	For
Federated Hermes	0	44,200	Withhold
QUANTITATIVE MASTER SERIES LLC	38,267	0	For
State Street	34,585	0	For
Invesco	27,851	0	For
Goldman Sachs	23,595	0	For
Nationwide	20,094	0	For
Northern Lights Fund Trust IV	19,783	0	For
EA Series Trust	16,326	0	For
Lincoln Financial	16,300	0	For
MASTER INVESTMENT PORTFOLIO	15,155	0	For
Global X	13,168	0	For
Pacific Life	12,920	0	For

Showing the 25 largest of 50 asset managers. See all 50 in the interactive database.

5. Elect Director: John Uribe

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Meeting held May 8, 2025.

Combines 4 wordings of this item as funds reported it.

48.5% Plurality election · of votes cast

FOR 48.5%WITHHELD

FOR: 7,960,827WITHHELD: 8,464,169

Details: description as filed, official tally, votes by 50 asset managers

Description as filed by funds: Election of Directors: John Uribe

ALERUS FINANCIAL CORP.’s own tally for this item (“Elect Director: John Uribe”): 7,960,827 for, 8,464,169 withheld, per its Form 8-K filed May 12, 2025 (Item 5.07). This is a for/withhold election, which is decided by plurality: a nominee does not need a majority of the votes cast to be elected, so no passed or failed outcome is stated here.

Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 48.5% of votes cast — FOR ÷ (FOR + WITHHELD); abstentions and broker non-votes are excluded.

The 50 asset managers below reported 210,732 for, 3,295,837 withheld, 1,057,254 abstained.

ABSTAINWITHHOLD

FOR: 210,732ABSTAIN: 1,057,254WITHHOLD: 3,295,837

Largest asset managers voting on “Election of Directors: John Uribe” at ALERUS FINANCIAL CORP., 2024-2025
Asset manager	For	Abstain	Withheld	Vote
Vanguard	0	0	1,148,543	Withhold
BlackRock	0	954,944	0	Abstain
Dimensional	0	0	544,167	Withhold
Fidelity	0	0	468,295	Withhold
Columbia Threadneedle	0	0	331,303	Withhold
Charles Schwab	0	0	187,672	Withhold
American Century	0	0	126,934	Withhold
Keeley Funds, Inc.	0	0	109,427	Withhold
TRUST FOR PROFESSIONAL MANAGERS	96,441	0	0	For
TIAA	0	0	56,793	Withhold
WisdomTree	56,028	0	0	For
SEI	0	0	49,887	Withhold
Equitable	0	0	49,544	Withhold
Federated Hermes	0	0	44,200	Withhold
QUANTITATIVE MASTER SERIES LLC	0	38,267	0	Abstain
State Street	49	0	34,536	Withhold
Invesco	27,851	0	0	For
Goldman Sachs	0	0	23,595	Withhold
Nationwide	0	0	20,094	Withhold
Northern Lights Fund Trust IV	19,783	0	0	For
EA Series Trust	0	16,326	0	Abstain
Lincoln Financial	0	0	16,300	Withhold
MASTER INVESTMENT PORTFOLIO	0	15,155	0	Abstain
Global X	0	0	13,168	Withhold
Pacific Life	0	0	12,920	Withhold

Showing the 25 largest of 50 asset managers. See all 50 in the interactive database.

6. Elect Director: Katie A. Lorenson

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Meeting held May 8, 2025.

Combines 4 wordings of this item as funds reported it.

92% Majority: yes · of votes cast

FOR 92%

FOR: 15,036,204WITHHELD: 1,388,792

Details: description as filed, official tally, votes by 50 asset managers

Description as filed by funds: Election of Directors: Katie A. Lorenson

ALERUS FINANCIAL CORP.’s own tally for this item (“Elect Director: Katie A. Lorenson”): 15,036,204 for, 1,388,792 withheld, per its Form 8-K filed May 12, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

The 50 asset managers below reported 4,563,823 for.

FOR

FOR: 4,563,823

Largest asset managers voting on “Election of Directors: Katie A. Lorenson” at ALERUS FINANCIAL CORP., 2024-2025
Asset manager	For	Vote
Vanguard	1,148,543	For
BlackRock	954,944	For
Dimensional	544,167	For
Fidelity	468,295	For
Columbia Threadneedle	331,303	For
Charles Schwab	187,672	For
American Century	126,934	For
Keeley Funds, Inc.	109,427	For
TRUST FOR PROFESSIONAL MANAGERS	96,441	For
TIAA	56,793	For
WisdomTree	56,028	For
SEI	49,887	For
Equitable	49,544	For
Federated Hermes	44,200	For
QUANTITATIVE MASTER SERIES LLC	38,267	For
State Street	34,585	For
Invesco	27,851	For
Goldman Sachs	23,595	For
Nationwide	20,094	For
Northern Lights Fund Trust IV	19,783	For
EA Series Trust	16,326	For
Lincoln Financial	16,300	For
MASTER INVESTMENT PORTFOLIO	15,155	For
Global X	13,168	For
Pacific Life	12,920	For

Showing the 25 largest of 50 asset managers. See all 50 in the interactive database.

7. Elect Director: Mary E. Zimmer

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Meeting held May 8, 2025.

Combines 4 wordings of this item as funds reported it.

92% Majority: yes · of votes cast

FOR 92%

FOR: 15,052,061WITHHELD: 1,372,935

Details: description as filed, official tally, votes by 50 asset managers

Description as filed by funds: Election of Directors: Mary E. Zimmer

ALERUS FINANCIAL CORP.’s own tally for this item (“Elect Director: Mary E. Zimmer”): 15,052,061 for, 1,372,935 withheld, per its Form 8-K filed May 12, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

The 50 asset managers below reported 4,545,148 for, 2,349 withheld, 16,326 abstained.

FOR

FOR: 4,545,148ABSTAIN: 16,326WITHHOLD: 2,349

Largest asset managers voting on “Election of Directors: Mary E. Zimmer” at ALERUS FINANCIAL CORP., 2024-2025
Asset manager	For	Abstain	Vote
Vanguard	1,148,543	0	For
BlackRock	954,944	0	For
Dimensional	544,167	0	For
Fidelity	468,295	0	For
Columbia Threadneedle	331,303	0	For
Charles Schwab	187,672	0	For
American Century	126,934	0	For
Keeley Funds, Inc.	109,427	0	For
TRUST FOR PROFESSIONAL MANAGERS	96,441	0	For
TIAA	56,793	0	For
WisdomTree	56,028	0	For
SEI	49,887	0	For
Equitable	49,544	0	For
Federated Hermes	44,200	0	For
QUANTITATIVE MASTER SERIES LLC	38,267	0	For
State Street	34,585	0	For
Invesco	27,851	0	For
Goldman Sachs	23,595	0	For
Nationwide	20,094	0	For
Northern Lights Fund Trust IV	19,783	0	For
EA Series Trust	0	16,326	Abstain
Lincoln Financial	16,300	0	For
MASTER INVESTMENT PORTFOLIO	15,155	0	For
Global X	13,168	0	For
Pacific Life	12,920	0	For

Showing the 25 largest of 50 asset managers. See all 50 in the interactive database.

8. Elect Director: Nikki L. Sorum

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Meeting held May 8, 2025.

Combines 4 wordings of this item as funds reported it.

92% Majority: yes · of votes cast

FOR 92%

FOR: 15,077,456WITHHELD: 1,347,540

Details: description as filed, official tally, votes by 50 asset managers

Description as filed by funds: Election of Directors: Nikki L. Sorum

ALERUS FINANCIAL CORP.’s own tally for this item (“Elect Director: Nikki L. Sorum”): 15,077,456 for, 1,347,540 withheld, per its Form 8-K filed May 12, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

The 50 asset managers below reported 4,563,823 for.

FOR

FOR: 4,563,823

Largest asset managers voting on “Election of Directors: Nikki L. Sorum” at ALERUS FINANCIAL CORP., 2024-2025
Asset manager	For	Vote
Vanguard	1,148,543	For
BlackRock	954,944	For
Dimensional	544,167	For
Fidelity	468,295	For
Columbia Threadneedle	331,303	For
Charles Schwab	187,672	For
American Century	126,934	For
Keeley Funds, Inc.	109,427	For
TRUST FOR PROFESSIONAL MANAGERS	96,441	For
TIAA	56,793	For
WisdomTree	56,028	For
SEI	49,887	For
Equitable	49,544	For
Federated Hermes	44,200	For
QUANTITATIVE MASTER SERIES LLC	38,267	For
State Street	34,585	For
Invesco	27,851	For
Goldman Sachs	23,595	For
Nationwide	20,094	For
Northern Lights Fund Trust IV	19,783	For
EA Series Trust	16,326	For
Lincoln Financial	16,300	For
MASTER INVESTMENT PORTFOLIO	15,155	For
Global X	13,168	For
Pacific Life	12,920	For

Showing the 25 largest of 50 asset managers. See all 50 in the interactive database.

9. Elect Director: Randy L. Newman

Outcome not verifiedDIRECTOR ELECTIONSReported outcome: Not verified

Meeting held May 8, 2025.

Combines 4 wordings of this item as funds reported it.

75% Majority: yes · of votes cast

FOR 75%WITHHELD

FOR: 12,355,613WITHHELD: 4,069,383

Details: description as filed, official tally, votes by 50 asset managers

Description as filed by funds: Election of Directors: Randy L. Newman

ALERUS FINANCIAL CORP.’s own tally for this item (“Elect Director: Randy L. Newman”): 12,355,613 for, 4,069,383 withheld, per its Form 8-K filed May 12, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 75% of votes cast — FOR ÷ (FOR + WITHHELD); abstentions and broker non-votes are excluded.

The 50 asset managers below reported 3,431,077 for, 1,053,951 withheld, 78,795 abstained.

FORWITHHOLD

FOR: 3,431,077ABSTAIN: 78,795WITHHOLD: 1,053,951

Largest asset managers voting on “Election of Directors: Randy L. Newman” at ALERUS FINANCIAL CORP., 2024-2025
Asset manager	For	Abstain	Withheld	Vote
Vanguard	1,148,543	0	0	For
BlackRock	928,926	26,018	0	For
Dimensional	0	0	544,167	Withhold
Fidelity	468,295	0	0	For
Columbia Threadneedle	331,303	0	0	For
Charles Schwab	0	0	187,672	Withhold
American Century	0	0	126,934	Withhold
Keeley Funds, Inc.	109,427	0	0	For
TRUST FOR PROFESSIONAL MANAGERS	96,441	0	0	For
TIAA	56,793	0	0	For
WisdomTree	56,028	0	0	For
SEI	0	0	49,887	Withhold
Equitable	49,544	0	0	For
Federated Hermes	44,200	0	0	For
QUANTITATIVE MASTER SERIES LLC	38,267	0	0	For
State Street	12	0	34,573	Withhold
Invesco	0	0	27,851	Withhold
Goldman Sachs	23,595	0	0	For
Nationwide	7,648	0	12,446	Mixed
Northern Lights Fund Trust IV	19,783	0	0	For
EA Series Trust	0	16,326	0	Abstain
Lincoln Financial	16,300	0	0	For
MASTER INVESTMENT PORTFOLIO	0	15,155	0	Abstain
Global X	0	0	13,168	Withhold
Pacific Life	12,920	0	0	For

Showing the 25 largest of 50 asset managers. See all 50 in the interactive database.

10. 1. The approval and adoption of the Merger Agreement, pursuant to which HMNF will merge with and into the Company, and…

Outcome not verifiedEXTRAORDINARY TRANSACTIONSReported outcome: Not verified

Meeting held September 12, 2024.

Combines 4 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%

FOR: 14,996,524AGAINST: 186,220

Details: description as filed, official tally, votes by 49 asset managers

Description as filed by funds: a proposal to approve and adopt the Agreement and Plan of Merger, dated as of May 14, 2024, between Alerus and HMN Financial, Inc. ("HMNF"), pursuant to which HMNF will merge with and into Alerus (the "merger"), and the transactions contemplated therein, including the issuance of Alerus common stock pursuant to the merger agreement (the "Alerus merger proposal"); and

ALERUS FINANCIAL CORP.’s own tally for this item (“1. The approval and adoption of the Merger Agreement, pursuant to which HMNF will merge with and into the Company, and the transactions contemplated therein, including the issuance of Company common stock pursuant to the”): 14,996,524 for, 186,220 against, per its Form 8-K filed September 13, 2024 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 99% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 49 asset managers below reported 3,598,443 for, 11,520 abstained.

FOR

FOR: 3,598,443ABSTAIN: 11,520

Largest asset managers voting on “a proposal to approve and adopt the Agreement and Plan of Merger, dated as of May 14, 2024, between Alerus and” at ALERUS FINANCIAL CORP., 2024-2025
Asset manager	For	Abstain	Vote
Vanguard	916,519	0	For
BlackRock	789,308	0	For
Fidelity	319,435	0	For
Columbia Threadneedle	313,864	0	For
Dimensional	205,258	0	For
American Century	155,203	0	For
Charles Schwab	144,554	0	For
TRUST FOR PROFESSIONAL MANAGERS	97,503	0	For
BRIDGEWAY FUNDS INC	80,200	0	For
SEI	69,017	0	For
WisdomTree	66,453	0	For
EA Series Trust	45,560	0	For
TIAA	44,836	0	For
QUANTITATIVE MASTER SERIES LLC	36,251	0	For
Federated Hermes	33,553	0	For
State Street	32,935	0	For
Equitable	16,792	11,520	Mixed
Invesco	27,666	0	For
Northern Trust	26,301	0	For
Nationwide	23,249	0	For
Goldman Sachs	19,564	0	For
Zacks Trust	17,823	0	For
Lincoln Financial	13,800	0	For
MASTER INVESTMENT PORTFOLIO	10,208	0	For
Global X	9,829	0	For

Showing the 25 largest of 49 asset managers. See all 49 in the interactive database.

11. 5. For the approval of the Amendment to increase the number of authorized shares of Company Common Stock authorized for…

Outcome not verifiedCAPITAL STRUCTUREReported outcome: Not verified

Meeting held May 8, 2025.

95% Majority: yes · of votes cast

FOR 95%

FOR: 20,294,997AGAINST: 1,154,555

Details: description as filed, official tally, votes by 50 asset managers

Description as filed by funds: APPROVE AN AMENDMENT TO THE COMPANY'S THIRD AMENDED AND RESTATED CERTIFICATE OF INCORPORATION TO INCREASE THE NUMBER OF AUTHORIZED SHARES OF COMPANY COMMON STOCK AUTHORIZED FOR ISSUANCE.

ALERUS FINANCIAL CORP.’s own tally for this item (“5. For the approval of the Amendment to increase the number of authorized shares of Company Common Stock authorized for issuance”): 20,294,997 for, 1,154,555 against, per its Form 8-K filed May 12, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 95% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 50 asset managers below reported 4,563,823 for.

FOR

FOR: 4,563,823

Largest asset managers voting on “APPROVE AN AMENDMENT TO THE COMPANY'S THIRD AMENDED AND RESTATED CERTIFICATE OF INCORPORATION TO INCREASE THE ” at ALERUS FINANCIAL CORP., 2024-2025
Asset manager	For	Vote
Vanguard	1,148,543	For
BlackRock	954,944	For
Dimensional	544,167	For
Fidelity	468,295	For
Columbia Threadneedle	331,303	For
Charles Schwab	187,672	For
American Century	126,934	For
Keeley Funds, Inc.	109,427	For
TRUST FOR PROFESSIONAL MANAGERS	96,441	For
TIAA	56,793	For
WisdomTree	56,028	For
SEI	49,887	For
Equitable	49,544	For
Federated Hermes	44,200	For
QUANTITATIVE MASTER SERIES LLC	38,267	For
State Street	34,585	For
Invesco	27,851	For
Goldman Sachs	23,595	For
Nationwide	20,094	For
Northern Lights Fund Trust IV	19,783	For
EA Series Trust	16,326	For
Lincoln Financial	16,300	For
MASTER INVESTMENT PORTFOLIO	15,155	For
Global X	13,168	For
Pacific Life	12,920	For

Showing the 25 largest of 50 asset managers. See all 50 in the interactive database.

12. 2. The approval of the adjournment of the Special Meeting to permit further solicitation in the event that an…

Outcome not verifiedCORPORATE GOVERNANCEReported outcome: Not verified

Meeting held September 12, 2024.

Combines 2 wordings of this item as funds reported it.

95% Majority: yes · of votes cast

FOR 95%

FOR: 14,457,073AGAINST: 698,480

Details: description as filed, official tally, votes by 49 asset managers

Description as filed by funds: a proposal to approve the adjournment of the special meeting to permit further solicitation in the event that an insufficient number of votes are cast to approve the Alerus merger proposal (the "Alerus adjournment proposal").

ALERUS FINANCIAL CORP.’s own tally for this item (“2. The approval of the adjournment of the Special Meeting to permit further solicitation in the event that an insufficient number of votes are cast to approve the Merger Proposal”): 14,457,073 for, 698,480 against, per its Form 8-K filed September 13, 2024 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

The 49 asset managers below reported 3,217,154 for, 381,289 against, 11,520 abstained.

FOR

FOR: 3,217,154AGAINST: 381,289ABSTAIN: 11,520

Largest asset managers voting on “a proposal to approve the adjournment of the special meeting to permit further solicitation in the event that ” at ALERUS FINANCIAL CORP., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	916,519	0	0	For
BlackRock	789,308	0	0	For
Fidelity	0	319,435	0	Against
Columbia Threadneedle	313,864	0	0	For
Dimensional	205,258	0	0	For
American Century	155,203	0	0	For
Charles Schwab	144,554	0	0	For
TRUST FOR PROFESSIONAL MANAGERS	97,503	0	0	For
BRIDGEWAY FUNDS INC	80,200	0	0	For
SEI	69,017	0	0	For
WisdomTree	66,453	0	0	For
EA Series Trust	0	45,560	0	Against
TIAA	44,836	0	0	For
QUANTITATIVE MASTER SERIES LLC	36,251	0	0	For
Federated Hermes	33,553	0	0	For
State Street	32,935	0	0	For
Equitable	16,792	0	11,520	Mixed
Invesco	27,666	0	0	For
Northern Trust	26,301	0	0	For
Nationwide	23,249	0	0	For
Goldman Sachs	19,564	0	0	For
Zacks Trust	17,823	0	0	For
Lincoln Financial	0	13,800	0	Against
MASTER INVESTMENT PORTFOLIO	10,208	0	0	For
Global X	9,829	0	0	For

Showing the 25 largest of 49 asset managers. See all 49 in the interactive database.

13. 2. For the approval, on a non-binding advisory basis, of the 2024 compensation paid to the Company's named executive…

Outcome not verified Fund totals may overlapSECTION 14A SAY-ON-PAY VOTESReported outcome: Not verified

Meeting held May 8, 2025.

Combines 6 wordings of this item as funds reported it.

93% Majority: yes · of votes cast

FOR 93%

FOR: 14,905,585AGAINST: 1,062,448

Details: description as filed, official tally, votes by 146 asset managers

Description as filed by funds: Approve, on a non-binding advisory basis, the compensation paid to our named executive officers.

ALERUS FINANCIAL CORP.’s own tally for this item (“2. For the approval, on a non-binding advisory basis, of the 2024 compensation paid to the Company's named executive officers”): 14,905,585 for, 1,062,448 against, per its Form 8-K filed May 12, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 93% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

Fund voting reports: 50 asset managers voting on “Approve, on a non-binding advisory basis, the compensation paid to our named executive officers.” at ALERUS FINANCIAL CORP., 2024-2025
Asset manager	For	Vote
Vanguard	1,148,543	For
BlackRock	954,944	For
Dimensional	544,167	For
Fidelity	468,295	For
Columbia Threadneedle	331,303	For
Charles Schwab	187,672	For
American Century	126,934	For
Keeley Funds, Inc.	109,427	For
TRUST FOR PROFESSIONAL MANAGERS	96,441	For
TIAA	56,793	For
WisdomTree	56,028	For
SEI	49,887	For
Equitable	49,544	For
Federated Hermes	44,200	For
QUANTITATIVE MASTER SERIES LLC	38,267	For
State Street	34,585	For
Invesco	27,851	For
Goldman Sachs	23,595	For
Nationwide	20,094	For
Northern Lights Fund Trust IV	19,783	For
EA Series Trust	16,326	For
Lincoln Financial	16,300	For
MASTER INVESTMENT PORTFOLIO	15,155	For
Global X	13,168	For
Pacific Life	12,920	For

Fund voting reports, all 50 managers: 4,561,474 for, 2,349 against. Showing the 25 largest; see all in the interactive database.

Institutional-manager reports: 114 asset managers voting on “Approve, on a non-binding advisory basis, the compensation paid to our named executive officers.” at ALERUS FINANCIAL CORP., 2024-2025
Asset manager	For	Against	Vote
BlackRock	758,869	0	For
GEODE CAPITAL MANAGEMENT, LLC	527,816	0	For
ENDEAVOUR CAPITAL ADVISORS INC	527,283	0	For
GENDELL JEFFREY L	399,794	0	For
State Street	374,510	0	For
Rhino Investment Partners, Inc	287,226	0	For
AllianceBernstein	286,981	0	For
Wellington	0	275,587	Against
Charles Schwab	187,672	0	For
M3F, Inc.	187,363	0	For
Northern Trust	180,250	0	For
American Century	126,934	0	For
Dimensional	108,355	0	For
Keeley-Teton Advisors, LLC	91,656	0	For
Citadel	87,018	0	For
Two Sigma	85,941	0	For
Renaissance	83,373	0	For
MELLON INVESTMENTS Corp	67,505	0	For
CWM, LLC	57,988	0	For
Nuveen	57,174	0	For
AMERIPRISE FINANCIAL INC	50,865	0	For
Wealth Forward, LLC	50,279	0	For
SEI	50,177	0	For
Federated Hermes	45,805	0	For
Invesco	38,017	0	For

Institutional-manager reports, all 114 managers: 5,099,830 for, 293,683 against, 7,885 1 year. Showing the 25 largest; see all in the interactive database.

14. Approve, on a non-binding advisory basis, how often we will hold future advisory votes on the compensation paid to our…

No official match Fund totals may overlapSECTION 14A SAY-ON-PAY VOTES

Meeting held May 8, 2025.

Combines 4 wordings of this item as funds reported it.

100% Fund and manager reports combined; may count the same shares twice · no official result

1 YEAR

Details: description as filed, votes by 141 asset managers

Description as filed by funds: Approve, on a non-binding advisory basis, how often we will hold future advisory votes on the compensation paid to our named executive officers.

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 50 asset managers voting on “Approve, on a non-binding advisory basis, how often we will hold future advisory votes on the compensation pai” at ALERUS FINANCIAL CORP., 2024-2025
Asset manager	For	Against	Abstain	Withheld	Vote
Vanguard	0	0	0	0	--
BlackRock	0	0	0	0	--
Dimensional	0	0	0	0	--
Fidelity	0	0	0	0	--
Columbia Threadneedle	0	0	0	0	--
Charles Schwab	0	0	0	0	--
American Century	0	0	0	0	--
Keeley Funds, Inc.	0	0	0	0	--
TRUST FOR PROFESSIONAL MANAGERS	0	0	0	0	--
TIAA	0	0	0	0	--
WisdomTree	0	0	0	0	--
SEI	0	0	0	0	--
Equitable	0	0	0	0	--
Federated Hermes	0	0	0	0	--
QUANTITATIVE MASTER SERIES LLC	0	0	0	0	--
State Street	0	0	0	0	--
Invesco	0	0	0	0	--
Goldman Sachs	0	0	0	0	--
Nationwide	0	0	0	0	--
Northern Lights Fund Trust IV	0	0	0	0	--
EA Series Trust	0	0	0	0	--
Lincoln Financial	0	0	0	0	--
MASTER INVESTMENT PORTFOLIO	0	0	0	0	--
Global X	0	0	0	0	--
Pacific Life	0	0	0	0	--

Fund voting reports, all 50 managers: 4,009,373 1 year, 554,450 3 year. Showing the 25 largest; see all in the interactive database.

Institutional-manager reports: 109 asset managers voting on “Approve, on a non-binding advisory basis, how often we will hold future advisory votes on the compensation pai” at ALERUS FINANCIAL CORP., 2024-2025
Asset manager	For	Vote
BlackRock	0	--
GEODE CAPITAL MANAGEMENT, LLC	0	--
ENDEAVOUR CAPITAL ADVISORS INC	0	--
GENDELL JEFFREY L	0	--
State Street	0	--
Rhino Investment Partners, Inc	0	--
AllianceBernstein	0	--
Wellington	0	--
Charles Schwab	0	--
M3F, Inc.	0	--
Northern Trust	0	--
American Century	0	--
Dimensional	0	--
Keeley-Teton Advisors, LLC	0	--
Citadel	0	--
Two Sigma	0	--
Renaissance	0	--
MELLON INVESTMENTS Corp	0	--
Nuveen	0	--
AMERIPRISE FINANCIAL INC	0	--
Wealth Forward, LLC	50,279	For
SEI	0	--
Federated Hermes	0	--
Invesco	0	--
AQR	0	--

Institutional-manager reports, all 109 managers: 58,165 for, 5,135,856 1 year, 111,216 3 year. Showing the 25 largest; see all in the interactive database.

15. 4. The ratification of the appointment of RSM US LLP as the Company's independent registered public accounting firm for…

Outcome not verifiedAUDIT-RELATEDReported outcome: Not verified

Meeting held May 8, 2025.

Combines 2 wordings of this item as funds reported it.

99.5% Majority: yes · of votes cast

FOR 99.5%

FOR: 21,177,556AGAINST: 95,046

Details: description as filed, official tally, votes by 50 asset managers

Description as filed by funds: Ratification of the appointment of RSM US LLP as the independent public accounting firm for the Company for the fiscal year ending December 31, 2025.

ALERUS FINANCIAL CORP.’s own tally for this item (“4. The ratification of the appointment of RSM US LLP as the Company's independent registered public accounting firm for the year ending December 31, 2025”): 21,177,556 for, 95,046 against, per its Form 8-K filed May 12, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 99.5% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 50 asset managers below reported 4,547,497 for, 16,326 against.

FOR

FOR: 4,547,497AGAINST: 16,326

Largest asset managers voting on “Ratification of the appointment of RSM US LLP as the independent public accounting firm for the Company for th” at ALERUS FINANCIAL CORP., 2024-2025
Asset manager	For	Against	Vote
Vanguard	1,148,543	0	For
BlackRock	954,944	0	For
Dimensional	544,167	0	For
Fidelity	468,295	0	For
Columbia Threadneedle	331,303	0	For
Charles Schwab	187,672	0	For
American Century	126,934	0	For
Keeley Funds, Inc.	109,427	0	For
TRUST FOR PROFESSIONAL MANAGERS	96,441	0	For
TIAA	56,793	0	For
WisdomTree	56,028	0	For
SEI	49,887	0	For
Equitable	49,544	0	For
Federated Hermes	44,200	0	For
QUANTITATIVE MASTER SERIES LLC	38,267	0	For
State Street	34,585	0	For
Invesco	27,851	0	For
Goldman Sachs	23,595	0	For
Nationwide	20,094	0	For
Northern Lights Fund Trust IV	19,783	0	For
EA Series Trust	0	16,326	Against
Lincoln Financial	16,300	0	For
MASTER INVESTMENT PORTFOLIO	15,155	0	For
Global X	13,168	0	For
Pacific Life	12,920	0	For

Showing the 25 largest of 50 asset managers. See all 50 in the interactive database.

Largest ALERUS FINANCIAL CORP. shareholders voting in 2024-2025

Ranked separately for each type of Form N-PX report. An institutional manager can report shares that a fund it advises also reports, so the two tables can list the same shares and are never added together. Each is ranked by the shares voted on the item that the most managers of that type reported, shown as a share of the 25,365,662 shares outstanding at the time of that meeting.

Fund voting reports: top ALERUS FINANCIAL CORP. shareholders by shares voted on “Approve, on a non-binding advisory basis, the compensation paid to our named executive officers.”, 2024-2025
#	Asset manager	% of shares outstanding
1	Vanguard	4.53%
2	BlackRock	3.76%
3	Dimensional	2.15%
4	Fidelity	1.85%
5	Columbia Threadneedle	1.31%
6	Charles Schwab	0.74%
7	American Century	0.50%
8	Keeley Funds, Inc.	0.43%
9	TRUST FOR PROFESSIONAL MANAGERS	0.38%
10	TIAA	0.22%

Institutional-manager reports: top ALERUS FINANCIAL CORP. shareholders by shares voted on “Approve, on a non-binding advisory basis, the compensation paid to our named executive officers.”, 2024-2025
#	Asset manager	% of shares outstanding
1	BlackRock	2.99%
2	GEODE CAPITAL MANAGEMENT, LLC	2.08%
3	ENDEAVOUR CAPITAL ADVISORS INC	2.08%
4	GENDELL JEFFREY L	1.58%
5	State Street	1.48%
6	Rhino Investment Partners, Inc	1.13%
7	AllianceBernstein	1.13%
8	Wellington	1.09%
9	Charles Schwab	0.74%
10	M3F, Inc.	0.74%

Reported ALERUS FINANCIAL CORP. holdings and ownership

As disclosed to the SEC in Form 13F (quarter-end holdings of 30 large managers), Schedules 13D and 13G (beneficial ownership above 5%) and the company’s own proxy statement (DEF 14A). Each row names its form.

ALERUS FINANCIAL CORP. holdings and ownership disclosed for the 2024-2025 proxy season
Holder	% outstanding	Disclosure
BlackRock	7.23%	13F
Vanguard Group	4.71%	13F
Alerus Financial Corp Employee Stock Ownership Plan	4.09%	13G
Dimensional Fund Advisors	2.70%	13F
Geode Capital	2.12%	13F
State Street	1.59%	13F
Wellington Management	1.29%	13F
Northern Trust	0.77%	13F
Charles Schwab	0.73%	13F
Renaissance Technologies	0.50%	13F

Percentages above are of 25,365,662 shares outstanding, as reported by ALERUS FINANCIAL CORP. on its Form 10-Q dated May 2, 2025 (see the filing on EDGAR). This is the count contemporaneous with the 2024-2025 meeting, not today’s. Each holding is as of its own filing, which may be dated before or after the meeting.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered funds disclose how they voted every proxy and institutional managers disclose their votes on executive pay (say-on-pay, say-on-frequency and golden parachutes), and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from ALERUS FINANCIAL CORP.’s 10-Q dated May 2, 2025. This page is a static snapshot rebuilt weekly on October 14, 2026; a live search always shows the current data.

At ALERUS FINANCIAL CORP.'s 2 shareholder meetings in the 2024-2025 proxy season (held September 12, 2024 and May 8, 2025), 150 asset managers reported how they voted in their SEC Form N-PX filings, covering 2,508 separate fund positions. Their filings are grouped here into 15 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. On the most widely held item of the season, voted at the meeting held May 8, 2025 — Approve, on a non-binding advisory basis, the compensation paid to our named executive officers. — FOR was 93% of the votes cast (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side), which is more than half. Whether the item was approved is for the filing to say; that statement has not been read for this item. Source: ALERUS FINANCIAL CORP.'s Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission on May 12, 2025.

ALERUS FINANCIAL CORP. proxy season coverage: 2024-2025 (this page) · 2025-2026.

Download data (CSV): ballot items · votes by manager · column guide.