PARTAIN NATHAN I 4

What Happened Nathan I. Partain, a director of Otter Tail Corporation, received a grant of 2,000 shares of restricted common stock on April 13, 2026. The filing reports a fair market value of $91.15 per share for the grant, equal to approximately $182,300 in aggregate value. This is an award (grant) of restricted stock rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-04-13; Form 4 filed 2026-04-14 (timely).
• Transaction type: Award/Grant of Restricted Stock (code A).
• Shares granted: 2,000; per-share FMV: $91.15; total FMV: ~$182,300.
• Vesting: Grant vests in near-equal installments of one-third per year beginning April 8, 2027 (per footnote).
• Post-transaction holdings: filing does not state a specific total share count; footnote notes total direct holdings include DRIP and prior restricted stock distributions.
• No indication of a sale, exercise, gift, or 10b5-1 plan in this filing.

Context Restricted stock awards are common compensation/retention tools for executives and directors. These shares are subject to vesting (here, three annual installments) and may be forfeitable until vested, so they do not represent immediate sellable shares. Such awards are routine and reflect compensation rather than an immediate insider market signal.