LeBeau Michael E 4

What Happened

• Michael E. LeBeau, a director of Otter Tail Corporation (OTTR), was granted 1,500 shares of restricted common stock on April 13, 2026. The grant is reported as an Award/Grant (code A). The per-share fair market value listed for the grant is $91.15, giving the award an approximate aggregate value of $136,725.
• These shares are restricted: they will vest in near-equal installments of one-third per year beginning April 8, 2027. This is a compensation award to an outside director, not an open-market purchase or sale.

Key Details

• Transaction date: 2026-04-13; Form 4 filed 2026-04-14 (timely filing).
• Transaction type/code: Award/Grant (A) of 1,500 restricted shares; price reported as N/A (restricted grant); fair market value shown as $91.15 per share (F2).
• Vesting: One-third per year beginning April 8, 2027 (F1).
• Shares owned after transaction: The filing does not specify an aggregate post-transaction share count. Footnote F3 notes total direct holdings include prior restricted stock award distributions and shares from the company’s Compensation Plan for Outside Directors.
• Filing timeliness: Filed the day after the report date (within Form 4 timing rules), so not noted as late.

Context

• This is a standard director compensation award (restricted stock) and should be viewed as part of LeBeau’s pay, not an immediate market bet—restricted shares vest over time and are subject to forfeiture rules until vested.
• No options were exercised or shares sold; nothing in the filing indicates an immediate liquidity event or a 10b5-1 transaction plan.