ERICKSON JOHN D 4

What Happened

• John D. Erickson, a director of Otter Tail Corp (OTTR), was granted 1,500 shares of restricted common stock under the company's 2023 Stock Incentive Plan on April 13, 2026. The Form 4 reports this as an Award/Grant (code A); the filing shows N/A for share price but lists a fair market value of $91.15 (≈ $136,725 total for the grant). This is a compensation grant (not an open-market purchase or sale).

Key Details

• Transaction date: 2026-04-13; Form 4 filed: 2026-04-14 (timely filing).
• Grant type: Restricted Stock Award under 2023 Stock Incentive Plan (code A).
• Shares granted: 1,500; reported FMV: $91.15 (filing notes this value).
• Vesting: Vest in near-equal installments of one-third per year starting April 8, 2027 (subject to forfeiture until vested) (F1).
• Shares owned after transaction: not specified in this excerpt; filing notes total direct holdings include individual and restricted stock award distributions (F3).
• No 10b5-1 plan, tax-withholding, or sale noted in this transaction; this is not an exercised option or market sale.

Context

• Restricted stock awards are common compensation for directors and align their interests with shareholders, but they are subject to vesting conditions and do not indicate an immediate cash commitment or market sentiment. This grant increases Erickson’s potential future stake as shares vest over the next three years.