Otter Tail Corp — Director's Dealing 2010

Apr 13, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Otter Tail Corp (OTTR)
CIK: 0001466593
Period of Report: 2010-04-12

Reporting Person: SPIES GARY J (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-04-12	Common Stock	A	3100	—	Acquired	25825.1737	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Phantom Stock Units (right to buy)	$		Common Stock ()	19251.1694	Direct
Stock Options (right to buy)	$26.25	2011-04-09	Common Stock (2000)	2000	Direct

Footnotes

F1: Shares of Common Stock acquired under the Corporation's Stock Incentive Plan, which is a grant of Restricted Stock. The 3,100 shares granted 4/12/2010 vest 25% yearly commencing 4/8/2011.

F2: This grant has a FMV of $21.835.

F3: Total direct holdings include shares jointly held with spouse at Piper Jaffray, shares held by spouse at Dorn & Co and shares acquired individually through Dividend Reinvestment and pursuant to Restricted Stock Award distributions.

F4: 1 -for -1

F5: There is no specific "Exercisable Date" on the Phantom Stock Award.

F6: There is no specific "Expiration Date" on this Phantom Stock Award.

F7: Phantom Stock Units acquired under the 1999 Stock Incentive Plan at fair market value as part of the Compensation Program for Outside Directors. He first elected this method of payment in 2001.