Otter Tail Corp (OTTR) director awarded 1,500 Restricted Stock shares

Rhea-AI Filing Summary

ERICKSON JOHN D reported acquisition or exercise transactions in this Form 4 filing.

Otter Tail Corp director John D. Erickson received a grant of 1,500 shares of Common Stock on April 13, 2026 as an equity award. The award was made under the 2023 Stock Incentive Plan as Restricted Stock.

The granted shares will vest in near-equal installments of one-third per year beginning April 8, 2027, spreading the benefit over three years. After this grant, Erickson directly holds 3,133 shares. He also has indirect holdings of Common Stock through a trust and an IRA, reported separately.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider ERICKSON JOHN D

Role Director

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

Holdings After Transaction: Common Stock — 3,133 shares (Direct); Common Stock — 145,956 shares (Indirect, By Trust)

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 Stock grant: 1,500 shares Direct holdings after grant: 3,133 shares Trust holdings: 145,956 shares +3 more

6 metrics

Restricted Stock grant 1,500 shares Grant to director John D. Erickson on April 13, 2026

Direct holdings after grant 3,133 shares Common Stock directly held by John D. Erickson after award

Trust holdings 145,956 shares Common Stock held indirectly by trust

IRA holdings 4,516 shares Common Stock held indirectly by IRA

Grant fair market value $91.15 Fair market value stated for the grant

Vesting start date April 8, 2027 Vesting of Restricted Stock begins, one-third per year

Key Terms

Restricted Stock, 2023 Stock Incentive Plan, fair market value, By Trust, +1 more

5 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.

By Trust financial

""nature_of_ownership": "By Trust""

By IRA financial

""nature_of_ownership": "By IRA""

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^*

ERICKSON JOHN D

(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)	3,133	D(3)
Common Stock								145,956	I	By Trust
Common Stock								4,516	I	By IRA

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/ John D. Erickson 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 John D. Erickson?

Otter Tail Corp reported that director John D. Erickson received a grant of 1,500 shares of Common Stock. The grant was made as Restricted Stock under the 2023 Stock Incentive Plan on April 13, 2026, as part of his equity compensation.

How is the new Restricted Stock grant to Otter Tail (OTTR) director John D. Erickson structured?

The 1,500-share grant to John D. Erickson is Restricted Stock that will vest in near-equal installments of one-third per year. Vesting begins on April 8, 2027, creating a three-year vesting period that encourages longer-term alignment with shareholders.

What is the reported fair market value of John D. Erickson’s Otter Tail (OTTR) stock grant?

The filing states that this grant has a fair market value of $91.15. This figure comes from the company’s description of the award and helps indicate the approximate value the company assigned to the equity granted to the director.

How many Otter Tail Corp (OTTR) shares does John D. Erickson hold directly after the grant?

After receiving the 1,500-share Restricted Stock grant, John D. Erickson directly holds 3,133 shares of Otter Tail Corp Common Stock. These direct holdings include shares he acquired individually and shares received through Restricted Stock Award distributions.

What indirect Otter Tail (OTTR) holdings are reported for John D. Erickson?

The filing reports that John D. Erickson has 145,956 shares of Common Stock held indirectly by a trust and 4,516 shares held indirectly by an IRA. These positions are reported as indirect ownership, separate from his directly held shares.

Was John D. Erickson’s Otter Tail (OTTR) grant an open-market purchase?

No, the transaction is classified as a grant or award acquisition, not an open-market purchase. The shares were granted under the 2023 Stock Incentive Plan as Restricted Stock, with no purchase price per share disclosed in the reported transaction.