Form 4: Otter Tail Corp Director Kathryn O. Johnson Reports Acquisition of Common Stock

Director Kathryn O. Johnson reports acquiring 1,700 shares of Otter Tail Corp common stock through a restricted stock grant.

Summary

• On April 8, 2024, Kathryn O. Johnson, a director of Otter Tail Corp, acquired 1,700 shares of common stock under the company's 2023 Stock Incentive Plan.
• The shares were granted as restricted stock and will vest in three near-equal annual installments starting April 8, 2025.
• The fair market value of the grant is $87.02 per share.
• Following the transaction, Johnson directly owns 26,253 shares of Otter Tail Corp common stock, including shares acquired individually and through restricted stock awards.
• Johnson has also granted a Limited Power of Attorney to Beth A. Eiken, James A. Versteeg, and Mitchell L. Bossert to handle Section 16 reporting obligations related to Otter Tail Corporation securities.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as a director is increasing their stake in the company, which is generally a good sign. The vesting schedule also suggests a long-term commitment.

Positives

• The acquisition of shares by a director signals confidence in the company's future.
• The vesting schedule of the restricted stock aligns the director's interests with the long-term performance of the company.

Future Outlook

The director's holdings will increase as the restricted stock vests over the next three years, aligning her interests with the company's long-term performance.

Industry Context

Insider transactions are closely monitored as they can provide insights into management's perspective on the company's prospects. Acquisitions are generally viewed positively.

Stakeholder Impact

• Shareholders may view the director's stock acquisition positively, as it aligns management's interests with theirs.
• The vesting schedule of the restricted stock encourages long-term value creation.

Key Dates