Form 4: Otter Tail Corp Director Nathan Partain Reports Stock Acquisition

Director Nathan Partain reports acquisition of Otter Tail Corp shares through a stock incentive plan and dividend reinvestment.

Summary

• On April 8, 2024, Nathan I. Partain, a director of Otter Tail Corp, acquired 2,000 shares of common stock under the 2023 Stock Incentive Plan, which is a grant of restricted stock.
• These shares will vest in near-equal installments of one-third per year beginning April 8, 2025.
• The grant has a fair market value of $87.02 per share.
• Partain also acquired 6,389 shares of common stock.
• Following these transactions, Partain directly owns 67,561 shares, indirectly owns 1,600 shares through an IRA, and holds shares by trust.
• Partain has granted limited power of attorney to Beth A. Eiken, James A. Versteeg, and Mitchell L. Bossert for Section 16 reporting obligations.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a standard disclosure of stock acquisition by a director. The acquisition itself can be seen as a slightly positive signal.

Positives

• Director's acquisition of shares may signal confidence in the company's future performance.

Future Outlook

The restricted stock acquired on April 8, 2024, will vest in near-equal installments of one-third per year beginning April 8, 2025.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The stock acquisition by a director could positively influence shareholder sentiment.

Key Dates