Rasche Steven P 4

What Happened

• Steven P. Rasche, a director of Otter Tail Corp, was granted 1,900 shares of restricted common stock under the company's 2023 Stock Incentive Plan on April 13, 2026. The grant is reported as an award (code A); no cash was paid by the insider.
• The grant has a reported fair market value of $91.15 per share, making the notional value of the award approximately $173,185. These are restricted shares that will vest over time rather than an immediate open-market purchase or sale.

Key Details

• Transaction date: April 13, 2026; Form 4 filed April 14, 2026 (timely filing).
• Security: Common stock (restricted stock award), 1,900 shares; transaction code A (award/grant).
• Fair market value per share (as disclosed): $91.15; approximate total value: $173,185.
• Vesting: Shares vest in near-equal installments of one-third per year beginning April 8, 2027 (per footnote).
• Holdings after transaction: The provided excerpt does not state Rasche’s total shares owned after the grant. Footnote indicates total direct holdings include shares acquired individually and via restricted awards.
• Footnotes summarized: F1 = award under 2023 Stock Incentive Plan (restricted stock); F2 = FMV $91.15; F3 = total direct holdings include these awards.

Context

• Restricted stock awards are compensation, not open-market purchases or sales; they typically vest over time and may be subject to forfeiture until vested. Such grants are common for directors and executives and do not by themselves indicate intent to buy or sell additional stock.
• For retail investors, awards are useful to track executive/director alignment with shareholder interests, but they differ from outright purchases as a stronger bullish signal.