Wahlund Todd R 4

What Happened

• Todd R. Wahlund, Chief Financial Officer of Otter Tail Corporation (OTTR), had restricted stock units (RSUs) vest on April 8, 2026. A total of 646 RSUs converted into common shares.
• Of those, 460 shares were acquired (retained) with a reported per-share value of $90.11 (total ≈ $41,451). 186 shares were disposed/withheld to satisfy tax withholding obligations at the same per-share value (total ≈ $16,760).
• This was an RSU vesting/event (award conversion), not an open-market purchase or voluntary sale — a routine compensation-related transaction rather than a market trade signal.

Key Details

• Transaction date: 2026-04-08; Form 4 filed: 2026-04-09 (filed promptly the next day).
• Prices and amounts: 646 RSUs vested at a reported value of $90.11/share → total value ≈ $58,211; 460 shares retained ($41,451); 186 shares withheld for taxes ($16,760).
• Transaction codes: M = exercise/conversion of derivative (RSU conversion to shares); F = payment of tax liability via share withholding.
• Shares owned after transaction: Not specified in the excerpt provided.
• Notable footnotes: Each RSU equals the right to one share (F3); RSUs vest per the schedule shown (footnotes indicate multi-year vesting conventions — F4/F5); withholding of shares to cover taxes is indicated (F1 explains one share received per vested RSU).

Context

• This was a vesting/award conversion event. Withholding shares for taxes is common and does not necessarily indicate a change in insider sentiment. The filing shows shares were withheld rather than sold in the open market (a non-cash withholding to cover tax liabilities).
• For retail investors: award vesting increases insider-owned shares on paper but often reduces immediate net share additions because of tax withholding. This is routine compensation administration, not an outright purchase or directional sale.