Form 4: Otter Tail Corp CEO Charles MacFarlane Reports Stock Transactions
SEC Form 4 Filing
Charles MacFarlane, President & CEO of Otter Tail Corp, reports the vesting and subsequent tax withholding of shares related to restricted stock units.
Summary
- On February 6, 2025, Charles MacFarlane, President & CEO of Otter Tail Corp, reported transactions involving common stock and restricted stock units.
- MacFarlane exercised restricted stock units, acquiring 9,525 shares of common stock.
- 4,464 shares were withheld by the corporation to cover taxes due upon the vesting of the restricted stock units at a price of $78.99 per share.
- Following these transactions, MacFarlane directly owns 200,490 shares of common stock.
- MacFarlane also indirectly owns 75,459 shares through a Spousal Lifetime Access Trust and 2,974 shares through an ESOP.
- The reported transactions also involve restricted stock units vesting in four equal annual installments beginning on the grant date.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing reflects routine transactions related to executive compensation and tax obligations.
Industry Context
Form 4 filings are standard disclosures required by the SEC to ensure transparency in insider trading activities. They provide insights into the actions of company executives and their confidence in the company's performance.
Comparison to Industry Standards
- Insider transactions are a normal part of executive compensation.
- The details provided in the Form 4 filings are in line with standard reporting requirements.
- Comparable companies in the utilities sector also have executives who receive stock options and restricted stock units as part of their compensation packages.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders.
- The filing provides transparency to shareholders regarding executive compensation.
Key Dates
| Date | Description |
|---|---|
| 02/06/2022 | Initial vesting date for some restricted stock units. |
| 02/06/2023 | Initial vesting date for some restricted stock units. |
| 02/06/2024 | Initial vesting date for some restricted stock units. |
| 02/06/2025 | Date of transaction and vesting of restricted stock units; earliest transaction date reported. |
| 02/07/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Insider Trading, Stock Options, Restricted Stock Units, Charles MacFarlane, Otter Tail Corp, OTTR, Beneficial Ownership
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