KNUTSON PAUL L 4

What Happened

• Paul L. Knutson, Vice President of Human Resources at Otter Tail Corporation, had 700 restricted stock units (RSUs) convert to common shares on Feb 6, 2026. Of those 700 shares, 279 were withheld by the company to satisfy tax withholding obligations, valued at $87.83 per share (total ~$24,505). The remaining 421 shares were issued to him.
• This is not an open-market purchase or sale by the insider; it is the vesting/conversion of RSUs with a tax-withholding disposition (common, administrative action).

Key Details

• Transaction date: February 6, 2026; Form 4 filed February 9, 2026 (filed timely).
• Actions reported: M = exercise/conversion of derivative (700 shares converted); F = shares withheld to pay taxes (279 shares @ $87.83, $24,505).
• Net shares delivered to insider after withholding: 421 shares (700 converted less 279 withheld).
• Footnotes: F1 — each RSU equals a contingent right to one share; F2 — shares were withheld by the corporation to pay taxes (exempt under Rule 16b-3(e)); F4 — RSUs vest in four equal annual installments beginning on the date shown.
• Shares owned after the transaction: not specified in the excerpt provided.

Context

• This transaction reflects RSU vesting and routine tax withholding (a common, non-speculative administrative event). Withholding of shares to cover taxes is a cashless method of satisfying tax liabilities and does not indicate a discretionary sale by the insider.