Otter Tail SVP granted 5,800 RSUs

Smestad Jennifer O. reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Smestad Jennifer O. reported acquisition or exercise transactions in this Form 4 filing.

Otter Tail Corp reported that SVP, General Counsel & Corporate Secretary Jennifer O. Smestad received a grant of 5,800 restricted stock units (RSUs) on common stock. Each RSU represents a contingent right to receive one share of Otter Tail stock, and these units vest on April 8, 2031.

After this grant, Smestad’s direct holdings include 19,137 shares of common stock plus multiple RSU awards covering 325, 500, 900 and 1,100 underlying shares that vest in four equal annual installments beginning on their stated dates. She also has 488 shares held indirectly through an ESOP. The filing shows no open-market buys or sells, only this compensation-related award.

Insider Trade Summary

Grant/Award: 5,800 shares

Grant/Award 7 txns

Insider Smestad Jennifer O.

Role SVP General Counsel & Corp Sec

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	5,800	$0.00	$0.00
holding	Restricted Stock Units	--	--	--
holding	Restricted Stock Units	--	--	--
holding	Restricted Stock Units	--	--	--
holding	Restricted Stock Units	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 8,625 contracts for 2,825 underlying shares (Direct); Common Stock — 19,137 shares (Direct); Common Stock — 488 shares (Indirect, By ESOP)

Footnotes (4)

1. F1. Total direct holdings include shares held jointly with spouse and shares acquired through the Employee Stock Purchase Plan, the Dividend Reinvestment Plan, and shares acquired pursuant to Restricted Stock Awards and Performance Share Awards.
2. F2. Each restricted stock unit represents a contingent right to receive one share of Otter Tail Corporation stock.
3. F3. The restricted stock units vest on April 8, 2031.
4. F4. The restricted stock units vest in four equal annual installments beginning the date shown above.

Key Figures

New RSU grant: 5,800 units RSU vesting date: April 8, 2031 Direct common stock: 19,137 shares +2 more

5 metrics

New RSU grant 5,800 units Restricted stock units granted on April 13, 2026

RSU vesting date April 8, 2031 Vesting date for 5,800-unit RSU award

Direct common stock 19,137 shares Direct Otter Tail common stock holdings after transactions

Indirect ESOP shares 488 shares Common stock held indirectly through ESOP

Existing RSU positions 325, 500, 900, 1,100 shares Underlying shares for prior RSU awards, direct ownership

Key Terms

Restricted Stock Units, Employee Stock Purchase Plan, Dividend Reinvestment Plan, Performance Share Awards, +1 more

5 terms

Restricted Stock Units financial

"Each restricted stock unit represents a contingent right to receive one share"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Employee Stock Purchase Plan financial

"shares acquired through the Employee Stock Purchase Plan"

An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.

Dividend Reinvestment Plan financial

"shares acquired through the Employee Stock Purchase Plan, the Dividend Reinvestment Plan"

A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.

Performance Share Awards financial

"shares acquired pursuant to Restricted Stock Awards and Performance Share Awards"

Performance share awards are grants of company stock that executives or employees receive only if the business reaches specific financial or operational goals over a set period. They matter to investors because they align management’s pay with company performance—like a bonus that pays in shares only when targets are hit—so successful outcomes can boost future earnings and share value while failures mean the awards are forfeited.

ESOP financial

"Common Stock ... 488.0000 ... nature_of_ownership: By ESOP"

An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.

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Accepted by SEC EDGAR 04/15/2026 - 11:34 AM 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^*

Smestad Jennifer O.

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP General Counsel & Corp Sec

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								19,137(1)	D
Common Stock								488	I	By ESOP

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
Restricted Stock Units	(2)	04/13/2026		A		5,800		04/08/2031(3)	(3)	Common Stock	5,800	$0	5,800	D
Restricted Stock Units	(2)							02/06/2024(4)	(4)	Common Stock	325		325	D
Restricted Stock Units	(2)							02/06/2025(4)	(4)	Common Stock	500		500	D
Restricted Stock Units	(2)							02/06/2026(4)	(4)	Common Stock	900		900	D
Restricted Stock Units	(2)							02/06/2027(4)	(4)	Common Stock	1,100		1,100	D

Explanation of Responses:

1. Total direct holdings include shares held jointly with spouse and shares acquired through the Employee Stock Purchase Plan, the Dividend Reinvestment Plan, and shares acquired pursuant to Restricted Stock Awards and Performance Share Awards.

2. Each restricted stock unit represents a contingent right to receive one share of Otter Tail Corporation stock.

3. The restricted stock units vest on April 8, 2031.

4. The restricted stock units vest in four equal annual installments beginning the date shown above.

Remarks:

	/s/ Jennifer O. Smestad by James A. Versteeg, Attorney-in-Fact	04/15/2026
	** 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)