Otter Tail Corp (OTTR) director LeBeau awarded 1,500 restricted shares

Rhea-AI Filing Summary

LeBeau Michael E reported acquisition or exercise transactions in this Form 4 filing.

Otter Tail Corp director Michael E. LeBeau reported an award of 1,500 shares of Common Stock. The shares are a grant of Restricted Stock under the 2023 Stock Incentive Plan at no cash cost to him.

The grant made on April 13, 2026 will vest in near-equal installments of one-third per year beginning April 8, 2027. After this award, LeBeau directly holds 9,300 shares in total, including prior Restricted Stock distributions and shares received under Otter Tail Corporation's Compensation Plan for Outside Directors.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider LeBeau Michael E

Role Director

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

Holdings After Transaction: Common Stock — 9,300 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 pursuant to Restricted Stock Award distributions and shares received pursuant to Otter Tail Corporation's Compensation Plan for Outside Directors.

Key Figures

Restricted Stock grant: 1,500 shares Direct holdings after grant: 9,300 shares Grant fair market value: $91.15 +1 more

4 metrics

Restricted Stock grant 1,500 shares Common Stock award to director Michael E. LeBeau on April 13, 2026

Direct holdings after grant 9,300 shares Total direct Otter Tail Corp Common Stock held by LeBeau following the award

Grant fair market value $91.15 Fair market value for the Restricted Stock grant as stated in the footnote

Vesting schedule One-third per year Restricted Stock vests in near-equal installments beginning April 8, 2027

Key Terms

Restricted Stock, 2023 Stock Incentive Plan, Compensation Plan for Outside Directors

3 terms

Restricted Stock financial

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

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"

Compensation Plan for Outside Directors financial

"shares received pursuant to Otter Tail Corporation's Compensation Plan for Outside Directors"

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^*

LeBeau Michael E

(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)		1,500	A	(2)	9,300(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 pursuant to Restricted Stock Award distributions and shares received pursuant to Otter Tail Corporation's Compensation Plan for Outside Directors.

Remarks:

	/s/ Michael E. LeBeau 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) director Michael LeBeau report?

Director Michael E. LeBeau reported receiving an award of 1,500 shares of Otter Tail Corp Common Stock. The shares are granted as Restricted Stock under the 2023 Stock Incentive Plan and increase his direct holdings to 9,300 shares following the transaction.

How many Otter Tail Corp (OTTR) shares does Michael LeBeau hold after this Form 4?

After the reported transaction, Michael E. LeBeau directly holds 9,300 shares of Otter Tail Corp Common Stock. This total includes the new 1,500-share Restricted Stock grant plus shares from earlier Restricted Stock Award distributions and compensation for outside directors.

What are the vesting terms of Michael LeBeau’s new Otter Tail Corp Restricted Stock?

The 1,500-share Restricted Stock grant to Michael E. LeBeau will vest in near-equal installments of one-third per year. Vesting begins on April 8, 2027, meaning the award becomes fully vested over three years following that initial vesting date.

Under which plan was Michael LeBeau’s Otter Tail Corp Restricted Stock granted?

The shares were granted under Otter Tail Corp’s 2023 Stock Incentive Plan as Restricted Stock. This plan provides equity-based compensation, and LeBeau’s award reflects his role as an outside director participating in the company’s long-term incentive program.

What is the reported fair market value of Michael LeBeau’s Otter Tail Restricted Stock grant?

The filing states that this Restricted Stock grant has a fair market value of $91.15. This figure comes directly from the footnote describing the award and is used to indicate the grant’s value for compensation and reporting purposes.

Does Michael LeBeau pay cash for the new Otter Tail Corp shares reported on Form 4?

No cash payment is shown for this award; the 1,500 shares were acquired at a price of $0.00 per share. The transaction is characterized as a grant or award of Restricted Stock rather than an open-market purchase.