Otter Tail director granted 1,500 restricted shares

Crain Jeanne H reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Crain Jeanne H reported acquisition or exercise transactions in this Form 4 filing.

Otter Tail Corp director Jeanne H. Crain received a grant of 1,500 shares of Common Stock as restricted stock under the 2023 Stock Incentive Plan on April 13, 2026. The award, with a stated fair market value of $91.15, vests in near-equal one-third installments each year beginning April 8, 2027. Following this grant, her direct holdings total 7,071 shares, including prior restricted stock distributions.

Insider Trade Summary

Grant/Award: 1,500 shares

Grant/Award 1 txn

Insider Crain Jeanne H

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,500	$0.00	$0.00

Holdings After Transaction: Common Stock — 7,071 shares (Direct)

Footnotes (3)

1. F1. Shares of Common Stock acquired under the 2023 Stock Incentive Plan, which is a grant of Restricted Stock. The shares granted on April 13, 2026 will vest in near-equal installments of one-third per year beginning April 8, 2027.
2. F2. This grant has a fair market value of $91.15.
3. F3. Total direct holdings include shares acquired individually and pursuant to Restricted Stock Award distributions.

Key Figures

Restricted stock grant: 1,500 shares Holdings after grant: 7,071 shares Grant fair market value: $91.15

3 metrics

Restricted stock grant 1,500 shares Common Stock award on April 13, 2026

Holdings after grant 7,071 shares Total direct Common Stock holdings following transaction

Grant fair market value $91.15 Stated fair market value of the restricted stock grant

Key Terms

Restricted Stock, 2023 Stock Incentive Plan, fair market value

3 terms

Restricted Stock financial

"which is a grant of Restricted Stock. The shares granted"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

2023 Stock Incentive Plan financial

"Shares of Common Stock acquired under the 2023 Stock Incentive Plan"

fair market value financial

"This grant has a fair market value of $91.15."

The price a willing buyer and a willing seller would agree on for an asset or security when neither is under pressure and both have access to the same information. Think of it as the market’s neutral estimate of what something is worth, like the price two neighbors would settle on for a car after comparing similar listings. Investors care because fair market value guides buying and selling decisions, tax reporting, portfolio valuation, and how accurately company assets are reflected in financial statements.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Otter Tail Corp (OTTR) report for Jeanne H. Crain?

Otter Tail Corp reported that director Jeanne H. Crain received a grant of 1,500 shares of Common Stock as restricted stock under the 2023 Stock Incentive Plan, dated April 13, 2026, recorded as a grant or award rather than an open-market purchase.

How many Otter Tail (OTTR) shares does Jeanne H. Crain hold after this Form 4?

After the reported award, Jeanne H. Crain directly holds 7,071 shares of Otter Tail Common Stock. This total includes shares she acquired individually as well as prior distributions from Restricted Stock Awards, according to the disclosure footnotes in the Form 4 filing.

What are the vesting terms of Jeanne H. Crain’s restricted stock at Otter Tail (OTTR)?

The 1,500-share restricted stock grant to Jeanne H. Crain will vest in near-equal installments of one-third per year. Vesting begins on April 8, 2027, and continues annually, reflecting a three-year vesting schedule tied to the company’s 2023 Stock Incentive Plan.

Was Jeanne H. Crain’s Otter Tail (OTTR) stock grant an open-market purchase?

No. The Form 4 classifies the 1,500-share transaction with code A, described as a grant, award, or other acquisition. The price per share is reported as $0.0000, indicating it is a compensation-related restricted stock award rather than an open-market stock purchase.

What fair market value did Otter Tail (OTTR) assign to Jeanne H. Crain’s stock grant?

The filing notes that Jeanne H. Crain’s restricted stock grant has a fair market value of $91.15. This value is disclosed in a footnote accompanying the award description and reflects the company’s stated fair market valuation for this specific grant on the grant date.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/14/2026 - 01:51 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Crain Jeanne H

(Last) (First) (Middle)

215 S CASCADE STREET

(Street)

FERGUS FALLS MINNESOTA 56537

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Otter Tail Corp [ OTTR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/13/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/13/2026		A(1)		1,500	A	(2)	7,071(3)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares of Common Stock acquired under the 2023 Stock Incentive Plan, which is a grant of Restricted Stock. The shares granted on April 13, 2026 will vest in near-equal installments of one-third per year beginning April 8, 2027.

2. This grant has a fair market value of $91.15.

3. Total direct holdings include shares acquired individually and pursuant to Restricted Stock Award distributions.

Remarks:

	/s/ Jeanne H. Crain by James A. Versteeg, Attorney-in-Fact	04/14/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)