WEBB THOMAS J 4

What Happened
Thomas J. Webb, a director of Otter Tail Corp (OTTR), was granted a restricted stock award of 1,500 shares on April 13, 2026 (transaction code A). The filing lists a fair market value of $91.15 (per share), implying a total grant value of roughly $136,725. The shares were granted as compensation rather than an open‑market purchase.

Key Details

• Transaction date: 2026-04-13 (Form 4 filed 2026-04-14; timely within reporting window).
• Transaction type: Award/Grant of Restricted Stock (code A); acquisition price shown as N/A.
• Vesting: Shares vest in near-equal installments of one‑third per year beginning April 8, 2027 (see footnote F1).
• Valuation: FMV reported as $91.15 (footnote F2), total ≈ $136,725.
• Shares owned after transaction: Not specified in the filing; footnote F3 notes total direct holdings include individually held shares and restricted stock distributions.
• No 10b5-1 plan, tax‑withholding, or sale reported in this filing.

Context
Restricted stock grants to directors are typically compensation for service and subject to future vesting; they are not the same as an open‑market purchase and do not by themselves indicate immediate insider buying or selling intent. The staggered vesting means Webb will realize the economic benefit over the next three years as portions vest.