Otter Tail Corp (OTTR) director granted 1,500-share restricted stock award

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Otter Tail Corp director Thomas J. Webb received an equity grant of 1,500 shares of common stock on April 13, 2026 as a restricted stock award under the 2023 Stock Incentive Plan. The grant is compensation, not an open-market purchase, and is recorded at a fair market value of $91.15.

The restricted shares will vest in near-equal installments of one-third per year, beginning April 8, 2027, tying Webb’s compensation to longer-term company performance. Following this award, his direct holdings total 17,600 shares, including shares acquired individually and through prior restricted stock distributions.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider WEBB THOMAS J

Role Director

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

Holdings After Transaction: Common Stock — 17,600 shares (Direct)

Footnotes (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 stock grant: 1,500 shares Holdings after transaction: 17,600 shares Fair market value: $91.15 +1 more

4 metrics

Restricted stock grant 1,500 shares Common Stock granted April 13, 2026 under 2023 Stock Incentive Plan

Holdings after transaction 17,600 shares Total direct holdings following the grant

Fair market value $91.15 Reported fair market value of the grant

Vesting schedule start April 8, 2027 First of three near-equal annual vesting installments

Key Terms

Restricted Stock, 2023 Stock Incentive Plan, fair market value, Restricted Stock Award distributions

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.

Restricted Stock Award distributions financial

"include shares acquired individually and pursuant to Restricted Stock Award distributions."

Form 4 Insider Transactions: What Each Field Means →

04/14/2026 - 01:47 PM

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^*

WEBB THOMAS J

(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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/13/2026		A⁽¹⁾		1,500	A	⁽²⁾	17,600⁽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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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/ Thomas J. Webb 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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Otter Tail Corp (OTTR) director Thomas J. Webb report in this Form 4?

Thomas J. Webb reported receiving 1,500 shares of Otter Tail Corp common stock as a restricted stock grant. The award is part of the company’s 2023 Stock Incentive Plan and represents equity compensation rather than an open-market share purchase.

How many Otter Tail Corp (OTTR) shares does Thomas J. Webb hold after the grant?

After the reported grant, Thomas J. Webb directly holds 17,600 shares of Otter Tail Corp common stock. This total includes shares acquired individually as well as shares received through previous Restricted Stock Award distributions under the company’s incentive programs.

How is the new restricted stock grant for Otter Tail Corp (OTTR) structured?

The 1,500-share grant is restricted stock under the 2023 Stock Incentive Plan. These shares will vest in near-equal installments of one-third per year, beginning April 8, 2027, creating a three-year vesting schedule linked to Webb’s continued service.

What is the reported fair market value of Thomas J. Webb’s grant at Otter Tail Corp (OTTR)?

The filing states that this restricted stock grant has a fair market value of $91.15. This value is used for reporting the equity compensation associated with the award as of the grant date disclosed in the Form 4 filing.

Was Thomas J. Webb’s Otter Tail Corp (OTTR) transaction a market purchase?

No, the transaction was not a market purchase. It is reported as a grant or award acquisition of 1,500 shares of common stock under the 2023 Stock Incentive Plan, meaning shares were granted as compensation rather than bought on the open market.