Otter Tail Corp Files DEF 14A with Executive Compensation Details

Ticker: OTTR · Form: DEF 14A · Filed: Feb 28, 2024

Sentiment: neutral

Topics: Otter Tail Corp, OTTR, DEF 14A, Executive Compensation, SEC Filing

Related Tickers: OTTR

TL;DR

<b>Otter Tail Corp has filed its DEF 14A, detailing executive compensation for 2023 and prior years.</b>

AI Summary

Otter Tail Corp (OTTR) filed a Proxy Statement (DEF 14A) with the SEC on February 28, 2024. Otter Tail Corp filed a DEF 14A on February 28, 2024, for the fiscal year ending December 31, 2023. The filing includes detailed executive compensation data for the fiscal years 2021, 2022, and 2023. Specific compensation components such as stock awards, pension plan benefits, and accumulated benefits are itemized. The company's principal business is Electric Services, with SIC code 4911. Otter Tail Corp is incorporated in Minnesota (MN) and its fiscal year ends on December 31.

Why It Matters

For investors and stakeholders tracking Otter Tail Corp, this filing contains several important signals. This filing provides transparency into the compensation packages of Otter Tail Corp's top executives, which is crucial for shareholder oversight and corporate governance. Understanding the executive compensation structure, including stock awards and pension benefits, can offer insights into the company's financial health and its strategy for retaining key talent.

Risk Assessment

Risk Level: low — Otter Tail Corp shows low risk based on this filing. The filing is a routine DEF 14A, providing standard disclosures on executive compensation and corporate governance, with no immediate red flags.

Analyst Insight

Review the detailed executive compensation breakdown to assess alignment with company performance and industry standards.

Key Numbers

Key Players & Entities

FAQ

When did Otter Tail Corp file this DEF 14A?

Otter Tail Corp filed this Proxy Statement (DEF 14A) with the SEC on February 28, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by Otter Tail Corp (OTTR).

Where can I read the original DEF 14A filing from Otter Tail Corp?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Otter Tail Corp.

What are the key takeaways from Otter Tail Corp's DEF 14A?

Otter Tail Corp filed this DEF 14A on February 28, 2024. Key takeaways: Otter Tail Corp filed a DEF 14A on February 28, 2024, for the fiscal year ending December 31, 2023.. The filing includes detailed executive compensation data for the fiscal years 2021, 2022, and 2023.. Specific compensation components such as stock awards, pension plan benefits, and accumulated benefits are itemized..

Is Otter Tail Corp a risky investment based on this filing?

Based on this DEF 14A, Otter Tail Corp presents a relatively low-risk profile. The filing is a routine DEF 14A, providing standard disclosures on executive compensation and corporate governance, with no immediate red flags.

What should investors do after reading Otter Tail Corp's DEF 14A?

Review the detailed executive compensation breakdown to assess alignment with company performance and industry standards. The overall sentiment from this filing is neutral.

How does Otter Tail Corp compare to its industry peers?

Otter Tail Corp operates in the Electric Services industry, providing essential utility services.

Are there regulatory concerns for Otter Tail Corp?

The DEF 14A filing is a regulatory requirement under the Securities Exchange Act of 1934, mandating disclosure of executive compensation and corporate governance matters.

Industry Context

Otter Tail Corp operates in the Electric Services industry, providing essential utility services.

Regulatory Implications

The DEF 14A filing is a regulatory requirement under the Securities Exchange Act of 1934, mandating disclosure of executive compensation and corporate governance matters.

What Investors Should Do

  1. Analyze the executive compensation data for trends and significant changes year-over-year.
  2. Compare Otter Tail Corp's executive compensation structure to industry peers.
  3. Review any shareholder proposals or voting recommendations included in the filing.

Key Dates

Year-Over-Year Comparison

This filing is a DEF 14A, which typically provides detailed information on executive compensation and annual meeting matters, compared to other SEC forms.

Filing Stats: 4,709 words · 19 min read · ~16 pages · Grade level 12.1 · Accepted 2024-02-28 09:11:50

Key Financial Figures

Filing Documents

Security Ownership of Certain Beneficial Owners

Security Ownership of Certain Beneficial Owners 31 Compensation Discussion and Analysis 33 E xecutive Summary 33 P urpose an d Philosophy 33 M arket Conditions and Peer Group 35 E le ments of Executive Compensation 36 E xecutive Co mpensation Policies 45 Report of Compensation and Human Capital Management Committee 46

Executive Compensation

Executive Compensation 47 S ummary Compensation Table 47 P ay Versus Performance 48 Total Realized Pay 52 G rant s of Plan-Based Awards 54 O ut standing Equity Aw a rd s at Fiscal Year-End 55 S tock Vested In Last Fiscal Year 56 P ension Benefits 56 N on-Qualified Deferred Compensation 59 P otential Payments Upon Termination or Change In Control 59 Pay Ratio Disclosure 62 P roposal 2: Advisory Vote on Executive Compensation 63 Report of Audit Committee 64 P r oposal 3: Rat ification of Independent Registered Public Accounting Firm 65 P re-Approval of Audit and Non-Audit Services Policy 66 Policy and Procedures Regarding Transactions with Related Persons 67 Shareholder Proposals for 202 5 Annual Meeting 68 Other Business 69

Forward-Looking Statements

Forward-Looking Statements The statements contained in this Proxy Statement about our future performance and operations, including, without limitation, financial and operational results, use of renewable resources and carbon emissions reductions, strategies, visions, prospects, plans, targets, goals, objectives, consequences and all other statements that are not purely historical, are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Although we believe that our expectations are based on information currently available and on reasonable assumptions, we can give no assurance they will be achieved. There are a number of risks and uncertainties that could cause actual results to differ materially from any forward-looking statements made herein. A discussion of some of these risks and uncertainties is contained in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission ("SEC"), and available on our website: www.ottertail.com . In addition, any forward-looking statements included herein represent our estimates only as of the date hereof and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements from time to time, we specifically disclaim any obligation to do so, even if our internal estimates change, unless otherwise required by applicable securities laws. Proxy Summary MEETING DETAILS DATE April 8, 2024 TIME 10:00 A.M. (CDT) PLACE www.virtualshareholdermeeting.com/OTTR2024 WAYS TO VOTE BY TELEPHONE BY INTERNET BY MAIL VOTING MATTERS Proposal Description Board Recommendation Page Reference 1 To elect three Directors to Otter Tail Corporation's Board of Directors to serve terms of three years expiring in April 2027 and until their successors are duly elected and qualified. FOR 9 2 To approve, in a non-binding advisory vote, the com

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