Form 4: Otter Tail Corp Executive Paul L. Knutson Reports Stock Transactions
SEC Form 4 Filing
Paul L. Knutson, VP of Human Resources at Otter Tail Corp, reports the vesting of restricted stock units and subsequent tax withholding, resulting in changes to his beneficial ownership of company stock.
Summary
- On February 6, 2025, Paul L. Knutson, VP of Human Resources at Otter Tail Corp, reported transactions involving common stock and restricted stock units.
- Knutson vested 775 restricted stock units, which converted into common stock.
- 310 shares were withheld by the corporation to cover taxes due upon the vesting of the award at a price of $78.99 per share.
- Following these transactions, Knutson directly owns 20,840 shares of Otter Tail Corp.
- The reported transactions also involved restricted stock units vesting from grants in 2022, 2023, 2024 and 2025.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment about the company's performance or outlook.
Industry Context
Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which can be useful for investors assessing management's perspective on the company's value and future prospects.
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 are typical for such equity-based compensation plans.
- Comparable companies in the utilities sector also utilize similar equity compensation strategies.
Stakeholder Impact
- Shareholders can monitor insider transactions to gain insights into management's views on the company's stock.
- The transactions have a minor impact on the overall shareholding structure.
Key Dates
| Date | Description |
|---|---|
| 02/06/2022 | Original vesting date of some restricted stock units. |
| 02/06/2023 | Original vesting date of some restricted stock units. |
| 02/06/2024 | Original vesting date of some restricted stock units. |
| 02/06/2025 | Transaction date: Vesting of restricted stock units and tax withholding. |
| 02/07/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Stock Transactions, Restricted Stock Units, Otter Tail Corp, Knutson, Vesting
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