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Otter Tail Corporation filings document operating results, governance actions, capital structure, and material events for a diversified public company with an electric utility and manufacturing businesses. Form 8-K reports cover consolidated financial results, earnings guidance, executive appointments, annual meeting voting outcomes, and material agreements involving Otter Tail Power Company.
Proxy materials disclose board elections, executive compensation, auditor ratification, bylaw matters, and shareholder voting mechanics. Capital-structure disclosures include common shares registered on Nasdaq and utility financing arrangements such as senior unsecured notes, related covenants, and restrictions on indebtedness, liens, asset sales, affiliate transactions, and other corporate actions.
Otter Tail Corp VP and Chief Financial Officer Nelson Tyler J filed an initial ownership report showing direct holdings of 4,355 shares of Common Stock. The filing also lists several restricted stock unit (RSU) awards, each representing a contingent right to receive one share of Otter Tail stock.
One RSU grant relates to 600 underlying Common Stock shares that became exercisable on April 8, 2023, and another relates to 1,400 underlying shares tied to a April 8, 2024 date. Two additional RSU awards each cover 550 underlying shares with dates of April 8, 2024 and April 8, 2025.
Footnotes state that total direct holdings include shares acquired through the Employee Stock Purchase Plan and from restricted stock unit distributions, and that RSUs vest four years from the date shown, with each unit representing a contingent right to receive one share of Otter Tail Corporation stock.
Otter Tail Corp director Kathryn O. Johnson received a grant of 1,500 shares of Common Stock as restricted stock under the 2023 Stock Incentive Plan on April 13, 2026. The grant will vest in near-equal installments of one-third per year beginning April 8, 2027. After this award, she directly holds 29,453 shares, reflecting compensation-based share acquisition rather than an open-market purchase.
Otter Tail Corporation announced several executive leadership changes linked to its long-term succession plan. Tim Rogelstad was elected President of Otter Tail Corporation, moving from his prior role leading Otter Tail Power Company and the electric platform, while Chuck MacFarlane remains Chief Executive Officer.
Todd Wahlund stepped down as Chief Financial Officer to become Senior Vice President and President of Otter Tail Power Company, and Tyler Nelson was elected Vice President and Chief Financial Officer of the Corporation.
Compensation packages include base salaries of $540,000 for Rogelstad, $525,000 for Wahlund, and $465,000 for Nelson, with cash incentive targets and long-term equity incentives. In addition, Senior Vice President and General Counsel Jennifer Smestad received $500,000 in restricted stock units that cliff vest on April 8, 2031 as a retention award, with accelerated vesting upon certain Change in Control events.
Otter Tail Corp director Mary E. Ludford reported an equity award of 1,500 shares of Common Stock. The shares were granted on April 13, 2026 as Restricted Stock under the 2023 Stock Incentive Plan and carry no purchase price, reflecting stock-based compensation rather than an open-market buy.
The grant will vest in near-equal installments of one-third per year beginning April 8, 2027, spreading ownership over roughly three years. After this award, Ludford’s total direct holdings are 7,071 shares, including shares previously acquired individually and through Restricted Stock Award distributions.
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.
Crain Jeanne H reported acquisition or exercise transactions in this Form 4 filing.
Otter Tail Corp director Jeanne H. Crain received a grant of 1,500 shares of Common Stock as restricted stock under the 2023 Stock Incentive Plan on April 13, 2026. The award, with a stated fair market value of $91.15, vests in near-equal one-third installments each year beginning April 8, 2027. Following this grant, her direct holdings total 7,071 shares, including prior restricted stock distributions.
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.
Rasche Steven P reported acquisition or exercise transactions in this Form 4 filing.
Otter Tail Corp director Steven P. Rasche reported receiving a grant of 1,900 shares of Common Stock on April 13, 2026. The shares were awarded at no cash cost to him as Restricted Stock under the company’s 2023 Stock Incentive Plan.
The restricted shares will vest in near-equal installments of one-third per year beginning April 8, 2027, creating a three-year vesting schedule. After this grant and prior restricted stock distributions, Rasche now directly holds 2,000 shares of Otter Tail common stock.
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.
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.