Charles S. Macfarlane - Feb 6, 2024 Form 4 Insider Report for Otter Tail Corp (OTTR)

Role: President & CEO
Signature: /s/ Charles S. MacFarlane by James A. Versteeg, Attorney-in-Fact
Stock symbol: OTTR
Transactions as of: Feb 6, 2024
Transactions value $: $3,313,122
Form type: 4
Date filed: 2/8/2024, 04:33 PM
Previous filing: Jan 23, 2024
Next filing: Mar 13, 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	OTTR	Common Stock	Award	$5.6M	+60K	+40.02%	$93.33	210K	Feb 6, 2024	Direct	F1
transaction	OTTR	Common Stock	Tax liability	-$2.76M	-29.6K	-14.09%	$93.33	180K	Feb 6, 2024	Direct	F2
transaction	OTTR	Common Stock	Options Exercise	$891K	+9.55K	+5.3%	$93.33	190K	Feb 6, 2024	Direct	F3
transaction	OTTR	Common Stock	Tax liability	-$418K	-4.48K	-2.36%	$93.33	185K	Feb 6, 2024	Direct	F2, F4
holding	OTTR	Common Stock						32.1K	Feb 6, 2024	by Grantor Retained Annuity Trust
holding	OTTR	Common Stock						75.5K	Feb 6, 2024	by Spousal Lifetime Access Trust
holding	OTTR	Common Stock						2.91K	Feb 6, 2024	by ESOP

Showing 1 to 7 of 7 entries

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	OTTR	Restricted Stock Units	Award	$0	+7.9K	+790000%	$0.00	7.9K	Feb 6, 2024	Common Stock	7.9K		Direct	F3, F5
transaction	OTTR	Restricted Stock Units	Options Exercise	$0	-2K	-100%	$0.00^*	0	Feb 6, 2024	Common Stock	0		Direct	F3, F5
transaction	OTTR	Restricted Stock Units	Options Exercise	$0	-2.88K	-50%	$0.00	2.88K	Feb 6, 2024	Common Stock	2.88K		Direct	F3, F5
transaction	OTTR	Restricted Stock Units	Options Exercise	$0	-2.18K	-33.33%	$0.00	4.35K	Feb 6, 2024	Common Stock	4.35K		Direct	F3, F5
transaction	OTTR	Restricted Stock Units	Options Exercise	$0	-2.5K	-25%	$0.00	7.5K	Feb 6, 2024	Common Stock	7.5K		Direct	F3, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents shares received upon the vesting of certain performance criteria in connection with a Performance Share Award (granted in 2021).
F2	These shares were withheld by the Corporation to pay taxes due upon vesting of this award, exempt pursuant to Rule 16b-3(e).
F3	Each restricted stock unit represents a contingent right to receive one share of Otter Tail Corporation stock.
F4	Total direct holdings include shares acquired through the Dividend Reinvestment Plan, the Employee Stock Purchase Plan and shares acquired pursuant to Stock Options, Restricted Stock Awards, Restricted Stock Units and Performance Share Awards.
F5	The restricted stock units vest in four equal annual installments beginning the date shown above.