Otter Tail Corp — Director's Dealing 2021

Feb 9, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Otter Tail Corp (OTTR)
CIK: 0001466593
Period of Report: 2021-02-06

Reporting Person: Smestad Jennifer O. (VP, Gen Coun & Corp Sec)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-06	Common Stock	M	900	—	Acquired	1874	Direct
2021-02-06	Common Stock	F	492	$41.6625	Disposed	1382	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-06	Restricted Stock Units	$	M	300	Disposed		Common Stock (300)	Direct
2021-02-06	Restricted Stock Units	$	M	300	Disposed		Common Stock (600)	Direct
2021-02-06	Restricted Stock Units	$	M	300	Disposed		Common Stock (900)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	452	Indirect
Common Stock	47	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$		Common Stock (225)	225	Direct

Footnotes

F1: Each restricted stock unit represents a contingent right to receive one share of Otter Tail Corporation common stock.

F2: These shares were withheld by the Corporation to pay taxes due upon vesting of this award, exempt pursuant to Rule 16b-3(e).

F3: Total direct holdings include shares held jointly with spouse and shares acquired through the Employee Stock Purchase Plan, the Dividend Reinvestment Plan, and shares acquired pursuant to Restricted Stock Award distributions.

F4: The restricted stock units vest in four equal annual installments which began the date shown above.

F5: Restricted stock units vest four years from date shown above.