Crain Jeanne H 4

What Happened
Jeanne H. Crain, a director of Otter Tail Corporation, was granted 1,500 shares of restricted common stock on April 13, 2026 (transaction code A — award). No cash price was paid; the grant has a fair market value of $91.15 per share, valuing the award at approximately $136,725. The restricted shares vest in near-equal installments of one-third per year beginning April 8, 2027.

Key Details

• Transaction date: 2026-04-13; Form 4 filed: 2026-04-14.
• Type/code: Award/Grant (A) — restricted stock.
• Shares granted: 1,500; FMV: $91.15/share; total value ≈ $136,725 (footnote F2).
• Vesting: One-third per year starting April 8, 2027 (footnote F1).
• Shares owned after transaction: Not specified in the provided filing; footnote F3 notes total direct holdings include these restricted stock distributions.
• Timeliness: Filed the day after the grant; no late-filing flag indicated.

Context
This was a time‑vesting restricted stock award to a board director (not an open-market purchase or sale). Such awards are typically meant to align directors with long-term shareholder interests; the shares are subject to vesting and are not immediately liquid unless later sold after vesting.