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Otter Tail Executive Compensation (FY25)

OTTR · Executive and director compensation, fiscal 2023 to 2025
Data as of September 7, 2026Latest filing (8-K): April 15, 2026
281 figures on this page: 271 cited to the filing that reported them, 10 calculated from figures it prints. See the citations
Charles MacFarlane was paid $6,792,688 in total compensation as President and Chief Executive Officer for fiscal 2025, and compared with the $6,388,314 reported for fiscal 2024, MacFarlane's total was 6.3% higher. The disclosed chief executive pay ratio for fiscal 2025 is 81:1, against median employee compensation of $84,375. For fiscal 2025, shareholders backed the say-on-pay proposal with 96.3% of votes cast including abstentions in favor at the meeting held April 13, 2026. The disclosed peer group includes ALLETE, Inc., Apogee Enterprises, Inc., Avista Corp., Black Hills Corporation and Chart Industries, Inc., among others.
Chief executive, fiscal 2025
◇
Charles MacFarlane
Latest say-on-pay support
=
April 13, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Charles MacFarlane: $6,388,314 → $6,792,688 (6.3% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Otter Tail's chief executive and what were they paid?
Charles MacFarlane was paid $6,792,688 in total compensation as President and Chief Executive Officer for fiscal 2025. Compared with the $6,388,314 reported for fiscal 2024, MacFarlane's total was 6.3% higher.
What was Otter Tail's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 96.3% of votes cast including abstentions in favor at the meeting held April 13, 2026.
Which companies are in Otter Tail's peer group?
The disclosed peer group includes ALLETE, Inc., Apogee Enterprises, Inc., Avista Corp., Black Hills Corporation and Chart Industries, Inc., among others.
What is Otter Tail's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 81:1, against median employee compensation of $84,375.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Charles MacFarlane
President and Chief Executive Officer
◇◇◇—◇◇◇◇
Timothy Rogelstad
Sr. Vice President, Electric Platform; President, Otter Tail Power Company
◇◇◇—◇◇◇◇
John Abbott
Sr. Vice President, Manufacturing Platform; President, Varistar Corporation
◇◇◇—◇—◇◇
Jennifer Smestad
Sr. Vice President, General Counsel and Corporate Secretary
◇◇◇—◇◇◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Charles MacFarlane
President and Chief Executive Officer
◇◇◇—◇◇◇◇
Timothy Rogelstad
Sr. Vice President, Electric Platform; President, Otter Tail Power Company
◇◇◇—◇◇◇◇
John Abbott
Sr. Vice President, Manufacturing Platform; President, Varistar Corporation
◇◇◇—◇—◇◇
Todd Wahlund
Vice President and Chief Financial Officer
◇◇◇—◇◇◇◇
Jennifer Smestad
Sr. Vice President, General Counsel and Corporate Secretary
◇◇◇—◇◇◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Charles MacFarlane
President and Chief Executive Officer
◇◇◇—◇◇◇◇
Timothy Rogelstad
Senior Vice President, Electric Platform; President, Otter Tail Power Company
◇◇◇—◇◇◇◇
Todd Wahlund
Vice President and Chief Financial Officer
◇◇◇—◇◇◇◇
John Abbott
Senior Vice President, Manufacturing Platform; President, Varistar Corporation
◇◇◇—◇—◇◇
Jennifer Smestad
Senior Vice President, General Counsel and Corporate Secretary
◇◇◇—◇◇◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Charles S. MacFarlaneRSU◇——◇——◇
Charles S. MacFarlaneRSU◇——◇——◇
Charles S. MacFarlaneRSU◇——◇——◇
Jennifer O. SmestadRSU◇——◇——◇
Jennifer O. SmestadRSU◇——◇——◇
Jennifer O. SmestadRSU◇——◇——◇
John S. AbbottRSU◇——◇——◇
John S. AbbottRSU◇——◇——◇
John S. AbbottRSU◇——◇——◇
Timothy J. RogelstadRSU◇——◇——◇
Timothy J. RogelstadRSU◇——◇——◇
Timothy J. RogelstadRSU◇——◇——◇
Todd R. WahlundRSU◇——◇——◇
Todd R. WahlundRSU◇——◇——◇
Todd R. WahlundRSU◇——◇——◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Timothy RogelstadPSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
Todd WahlundRSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Charles MacFarlaneRSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
Jennifer SmestadPSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
John AbbottPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Nathan I. Partain
Board chair
◇◇————◇
Steven L. Fritze
◇◇————◇
Michael E. LeBeau
◇◇————◇
Thomas J. Webb
◇◇————◇
Jeanne H. Crain
◇◇————◇
Kathryn O. Johnson
◇◇————◇
Mary E. Ludford
◇◇————◇
John D. Erickson
◇◇————◇
Steven P. Rasche, Charles S. MacFarlane and Christopher B. Clark served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Audit committee chair◇
Compensation committee chair◇
Equity is delivered as Restricted Stock.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • ALLETE, Inc. ALE
  • Apogee Enterprises, Inc. APOG
  • Avista Corp. AVA
  • Black Hills Corporation BKH
  • Chart Industries, Inc. GTLS
  • ESCO Technologies, Inc. ESE
  • Franklin Electric Co., Inc. FELE
  • Graco Inc. GGG
  • IDACORP, Inc. IDA
  • MDU Resources Group MDU
  • MGE Energy Inc. MGEE
  • Northwest Natural Holding Company NWN
  • Northwestern Corp. NWE
  • ONE Gas, Inc. OGS
  • Portland General Electric Co. POR
  • Tennant Company TNC
  • TXNM Energy TXNM
  • Unitil Corp. UTL

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025April 13, 2026=◇◇◇
2024April 14, 2025=◇◇◇
2023April 8, 2024=◇◇◇
2022April 17, 2023=◇◇◇
2021April 11, 2022=◇◇◇
2020April 12, 2021=◇◇◇
2019April 20, 2020=◇◇◇
2018April 8, 2019=◇◇◇
2017April 9, 2018=◇◇◇
2016April 10, 2017=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Otter Tail disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Otter Tail sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
281 figures on this page: 271 cited to the filing that reported them, 10 calculated from figures it prints.
271 cited to the filing
10 calculated from the filing

Documents cited

  1. 0001466593-26-000040
    Approval, In a Non-Binding Advisory Vote, of Compensation Provided to the Named Executive Officers as Described in the Proxy Statement
  2. 0001466593-26-000023
    CEO Pay Ratio · DIRECTOR COMPENSATION TABLE · Director Compensation · GRANTS OF PLAN-BASED AWARDS · and 3 more sections
  3. 0001466593-25-000075
    Approval, In a Non-Binding Advisory Vote, of Compensation Provided to the Named Executive Officers as Described in the Proxy Statement
  4. 0001466593-25-000049
    SUMMARY COMPENSATION TABLE
  5. 0001466593-24-000085
  6. 0001466593-24-000055
    SUMMARY COMPENSATION TABLE
  7. 0001466593-23-000118
  8. 0001466593-22-000023
  9. 0001466593-21-000019
  10. 0001437749-20-008169
  11. 0001437749-19-006786
  12. 0001437749-18-006587
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0001571049-17-003410
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This page is free to cite. Attribution we ask for:
Velarion, “Otter Tail executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/OTTR (accessed 2026).
Short form: data: Velarion
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Utilities rankings

Chief executive pay — UtilitiesCEO pay ratio — UtilitiesSay-on-pay support — Utilities

Peers Otter Tail discloses

The companies named in OTTR's own disclosed peer group.

Avista Corp.Black Hills CorporationESCO Technologies, Inc.IDACORP, Inc.Northwestern Corp.Portland General Electric Co.TXNM Energy

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy