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: LIEBE ARVID R (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-04-12	Common Stock	A	3100	—	Acquired	14146.2474	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3573.011	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Phantom Stock Units (right to buy)	$		Common Stock ()	1669.6027	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 4/12/10 vest 25% yearly commencing 4/8/2011.

F2: This grant has a FMV of $21.835.

F3: Total direct holdings include shares held in the Dividend Reinvestment Plan and shares acquired 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 2000.