Otter Tail Corp — Director's Dealing 2014

Jan 3, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Otter Tail Corp (OTTR)
CIK: 0001466593
Period of Report: 2013-12-31

Reporting Person: SPIES GARY J (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-12-31	Phantom Stock Units (right to buy)	$	A	509.684	Acquired		Common Stock (509.684)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	39113.1222	Direct

Footnotes

F1: Total direct holdings include shares jointly held with his spouse at Piper Jaffray, shares held by spouse at Dorn & Co and shares acquired individually through Dividend Reinvestment and pursuant to Restricted Stock distributions.

F2: 1 -for -1

F3: There is no specific "Exercisable Date" on the Phantom Stock Award.

F4: There is no specific "Expiration Date" on this Phantom Stock Award.

F5: Phantom Stock Units acquired under the 1999 Stock Incentive Plan at fair market value as part of the Compensation Program for outside Directors.