Form 4: Otter Tail Corp Director Mary E. Ludford Reports Stock Incentive Plan Acquisition

Director Mary E. Ludford acquired 1,700 shares of Otter Tail Corp common stock under the 2023 Stock Incentive Plan on April 8, 2024.

Summary

• On April 8, 2024, Mary E. Ludford, a director of Otter Tail Corp, acquired 1,700 shares of common stock under the company's 2023 Stock Incentive Plan.
• These shares are restricted stock and will vest in three near-equal annual installments starting April 8, 2025.
• The grant had a fair market value of $87.02 per share.
• Ludford's total direct holdings include shares acquired individually and through restricted stock award distributions.
• Ludford has granted limited power of attorney to Beth A. Eiken, James A. Versteeg, and Mitchell L. Bossert for Section 16 reporting obligations.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The director's acquisition of shares suggests confidence in the company. The vesting schedule aligns interests with long-term performance.

Positives

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

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, which is a common regulatory requirement for publicly traded companies.

Stakeholder Impact

• The acquisition of shares by a director can positively influence shareholder sentiment.

Key Dates