Form 4: Otter Tail Corp Executive Jennifer O. Smestad Reports Stock Transactions

Jennifer O. Smestad, VP, General Council & Corp Sec of Otter Tail Corp, reports the vesting of restricted stock units and subsequent tax withholding, resulting in changes to her beneficial ownership.

Summary

• On February 6, 2025, Jennifer O. Smestad, VP, General Council & Corp Sec of Otter Tail Corp, reported transactions involving common stock and restricted stock units.
• Smestad vested 1,250 restricted stock units, which converted into common stock.
• The company withheld 683 shares at a price of $78.99 to cover taxes due upon vesting.
• Following these transactions, Smestad directly owns 12,869 shares of common stock and indirectly owns 488 shares through an ESOP and 51 shares through her daughter.
• The restricted stock units vest in four equal annual installments beginning on the grant date.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.

Industry Context

This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation. It provides transparency into the trading activities of company insiders.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units that vest over time.
• Tax withholding upon vesting is a standard practice.
• The reporting requirements are in line with SEC regulations for insider trading.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax obligations.
• Employees participating in the Employee Stock Purchase Plan are indirectly affected by the overall stock performance.

Key Dates

Keywords

Form 4, Insider Trading, Beneficial Ownership, Restricted Stock Units, Otter Tail Corp, OTTR, Smestad, Executive Compensation