Otter Tail Corp (NASDAQ: OTTR) director awarded 1,900 restricted shares

Rhea-AI Filing Summary

Otter Tail Corp director Christopher B. Clark received a grant of 1,900 shares of Common Stock as a restricted stock award under the 2023 Stock Incentive Plan. The grant, dated April 13, 2026, has a stated fair market value of $91.15.

The restricted shares will vest in near-equal installments of one-third per year, beginning on April 8, 2027, providing Clark with a long-term equity incentive. After this award, his total direct holdings listed in this filing are 1,900 shares, including shares acquired individually and through restricted stock distributions.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Clark Christopher B

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,900	$0.00	--

Holdings After Transaction: Common Stock — 1,900 shares (Direct)

Footnotes (1)

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. This grant has a fair market value of $91.15. Total direct holdings include shares acquired individually and pursuant to Restricted Stock Award distributions.

Key Figures

Restricted shares granted: 1,900 shares Grant fair market value: $91.15 Vesting start date: April 8, 2027 +1 more

4 metrics

Restricted shares granted 1,900 shares Common Stock award to director on April 13, 2026

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

Vesting start date April 8, 2027 First vesting date; one-third of restricted shares vest each year

Direct holdings after grant 1,900 shares Total direct Common Stock holdings following this award

Key Terms

Restricted Stock, 2023 Stock Incentive Plan, fair market value, vest

4 terms

Restricted Stock financial

"which is a grant of Restricted Stock. The shares granted on April 13, 2026"

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.

vest financial

"will vest in near-equal installments of one-third per year beginning April 8, 2027."

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

Form 4 Insider Transactions: What Each Field Means →

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^*

Clark Christopher B

(Last) (First) (Middle)

215 SOUTH 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)		1,900	A	(2)	1,900(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/ Christopher B. Clark 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)

FAQ

What insider transaction did Otter Tail Corp (OTTR) report for Christopher B. Clark?

Otter Tail Corp reported that director Christopher B. Clark received a grant of 1,900 shares of Common Stock as restricted stock. The award was made under the 2023 Stock Incentive Plan on April 13, 2026, as compensation rather than an open-market purchase.

How is the new restricted stock award for OTTR’s Christopher B. Clark scheduled to vest?

The 1,900-share restricted stock award to Christopher B. Clark will vest in near-equal installments of one-third per year, starting on April 8, 2027. This multi-year vesting schedule ties his equity compensation to longer-term service and company performance.

What is the stated fair market value of Christopher B. Clark’s new OTTR stock grant?

The filing states that this restricted stock grant to Christopher B. Clark has a fair market value of $91.15. This value is used for compensation reporting and reflects the company’s assessment of the award’s worth at the grant date.

How many Otter Tail Corp shares does Christopher B. Clark directly hold after this Form 4?

After the reported transaction, Christopher B. Clark directly holds 1,900 shares of Otter Tail Corp Common Stock. The filing notes these direct holdings include shares acquired individually and through Restricted Stock Award distributions reported in this compensation-related transaction.

Was Christopher B. Clark’s OTTR transaction a market purchase or a compensation grant?

The transaction was a compensation-related grant, not a market trade. Clark acquired 1,900 restricted shares under the 2023 Stock Incentive Plan at a reported price of $0.00 per share, classified as a grant, award, or other acquisition in the filing.