Form 4: Otter Tail Corp CFO Todd Wahlund Reports Stock Transactions

Chief Financial Officer of Otter Tail Corp, Todd Wahlund, reports the acquisition and disposal of common stock and restricted stock units.

Summary

• Todd Wahlund, CFO of Otter Tail Corp, filed a Form 4 detailing changes in beneficial ownership.
• On February 6, 2025, Wahlund acquired 300 shares of common stock through the vesting of restricted stock units.
• Also on February 6, 2025, 164 shares were disposed of to cover taxes due upon vesting of the restricted stock units at a price of $78.99.
• Following these transactions, Wahlund directly owns 8,708 shares of common stock and indirectly owns 2,972 shares through an ESOP and 5 shares through a spouse.
• Wahlund also holds 900 Restricted Stock Units that vest in four equal annual installments beginning 02/06/2025.
• Additionally, Wahlund holds 600 Restricted Stock Units granted on 04/08/2021, 460 Restricted Stock Units granted on 04/08/2022, and 600 Restricted Stock Units granted on 04/08/2023, all vesting four years from the grant date.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Positives

• The acquisition of shares through vesting of restricted stock units can be seen as a positive sign, indicating confidence in the company's future performance.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing is typical for executives receiving and managing equity compensation.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units as a way to align management's interests with those of shareholders.
• The vesting schedules and tax withholding practices described in the filing are standard across publicly traded companies.
• Comparable companies such as ALLETE Clean Energy, Black Hills Corporation, and Xcel Energy also utilize similar equity compensation plans for their executives.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive compensation and stock ownership.
• The transactions have a minimal direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Form 4, beneficial ownership, stock, restricted stock units, Otter Tail Corp, Wahlund, CFO