Smestad Jennifer O. 4
4 · Otter Tail Corp · Filed Feb 12, 2026
Research Summary
AI-generated summary of this filing
Otter Tail (OTTR) VP Jennifer Smestad Receives 6,000-Share Award
What Happened
Jennifer O. Smestad, Vice President, General Counsel & Corporate Secretary of Otter Tail Corporation, received 6,000 shares upon vesting of a 2023 Performance Share Award (valued at $86.43/share, ~$518,580) on Feb 11, 2026. To cover tax withholding on that vesting, 3,031 shares were withheld/treated as disposed (at $86.43/share, ~$261,969). Separately, on Feb 10, 2026 she was granted 1,100 restricted stock units (RSUs) (recorded as derivative awards at $0.00).
Key Details
- Transaction dates: RSU grant 2026-02-10; performance-share vesting and withholding 2026-02-11. Form filed 2026-02-12 (timely within SEC rules).
- Award received: 6,000 performance shares @ $86.43 = $518,580.
- Tax withholding: 3,031 shares withheld/disposed @ $86.43 = $261,969 (coded F for tax withholding).
- RSU grant: 1,100 restricted stock units @ $0.00 (derivative award).
- Shares owned after transaction: not specified in the reported data. Footnote F3 explains what counts in “total direct holdings,” but the filing did not list a post-transaction total.
- Notable footnotes: F1—6,000 shares represent vested performance-share award (granted 2023). F2—3,031 shares were withheld to pay taxes, exempt under Rule 16b-3(e). F4—each RSU equals a contingent right to one share. F5—RSUs vest in four equal annual installments starting on the date shown.
Context
This filing reflects routine equity compensation activity: a performance award vesting (acquisition) and shares withheld to satisfy tax obligations (disposition). The RSU grant is a derivative award with multi-year vesting. Such transactions are typically administrative and do not by themselves indicate insider market sentiment.
Insider Transaction Report
- Award
Common Stock
[F1]2026-02-11$86.43/sh+6,000$518,580→ 22,168 total - Tax Payment
Common Stock
[F2][F3]2026-02-11$86.43/sh−3,031$261,969→ 19,137 total - Award
Restricted Stock Units
[F4][F5]2026-02-10+1,100→ 1,100 totalFrom: 2027-02-06→ Common Stock (1,100 underlying)
- 488(indirect: By ESOP)
Common Stock
- 325
Restricted Stock Units
[F4][F5]From: 2024-02-06→ Common Stock (325 underlying) - 500
Restricted Stock Units
[F4][F5]From: 2025-02-06→ Common Stock (500 underlying) - 900
Restricted Stock Units
[F4][F5]From: 2026-02-06→ Common Stock (900 underlying)
Footnotes (5)
- [F1]Represents shares received upon the vesting of certain performance criteria in connection with a Performance Share Award (granted in 2023).
- [F2]These shares were withheld by the Corporation to pay taxes due upon vesting of this award, exempt pursuant to Rule 16b-3(e).
- [F3]Total direct holdings include shares held jointly with spouse and shares acquired through the Employee Stock Purchase Plan, the Dividend Reinvestment Plan, and shares acquired pursuant to Restricted Stock Awards and Performance Share Awards.
- [F4]Each restricted stock unit represents a contingent right to receive one share of Otter Tail Corporation stock.
- [F5]The restricted stock units vest in four equal annual installments beginning the date shown above.