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Otter Tail Corp·4

Feb 12, 10:21 AM ET

Abbott John S 4

Research Summary

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Updated

Otter Tail (OTTR) Sr VP John S. Abbott Receives Performance Shares

What Happened

  • John S. Abbott, Senior Vice President, Manufacturing Platform at Otter Tail Corporation, received 8,400 performance shares that vested on 2026-02-11 at a reported value of $86.43/share (total $726,012). To cover tax withholding on the vesting, 4,209 shares were withheld (treated as a disposition) valued at $86.43/share ($363,784). That results in a net increase of 4,191 shares (about $362K at $86.43). Separately, on 2026-02-10 he was granted 1,600 restricted stock units (RSUs) (reported at $0 as a derivative grant).

Key Details

  • Transaction dates and values:
    • 2026-02-11: Performance shares vested — 8,400 shares @ $86.43 = $726,012 (acquired).
    • 2026-02-11: Tax withholding — 4,209 shares @ $86.43 = $363,784 (disposed to cover taxes).
    • 2026-02-10: Grant of 1,600 RSUs (derivative grant reported at $0).
  • Net shares acquired from the vesting: 4,191 shares (≈ $362K at $86.43).
  • Shares owned after transaction: not specified in the provided filing data.
  • Relevant footnotes:
    • F1: Vesting reflects performance share award originally granted in 2023.
    • F2: Withheld shares were surrendered to the company to pay taxes; this withholding is exempt under Rule 16b-3(e).
    • F4/F5: Each RSU equals a contingent right to one share; RSUs vest in four equal annual installments beginning on the date shown.
    • F3: Total direct holdings include shares from Restricted Stock and Performance Share awards.
  • Filing timeliness: Form 4 filed 2026-02-12 reporting activity through 2026-02-10/02-11 — appears timely (not marked late).

Context

  • This activity is company-issued compensation (vesting of performance shares and a grant of RSUs), not an open-market buy or sale. Withholding shares to cover taxes is a routine administrative step and should not be read as an independent sale signal.
  • The RSU grant is a future-contingent award (one RSU = one share when vested) that vests in four equal annual installments, so additional shares may be delivered over coming years if vesting conditions are met.