Neil Green - 06 Feb 2024 Form 4 Insider Report for Otis Worldwide Corp (OTIS)

Role
EVP and Chief Digital Officer
Signature
Joshua Mullin, Attorney-in-Fact
Issuer symbol
OTIS
Transactions as of
06 Feb 2024
Transactions value $
$-230,372
Form type
4
Filing time
08 Feb 2024, 17:09:56 UTC
Previous filing
06 Feb 2024
Next filing
01 Apr 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OTIS Common Stock Award +7,696 +982% 8,480 06 Feb 2024 Direct F4
transaction OTIS Common Stock Tax liability $-214,312 -2,331 -27.5% $91.94 6,149 06 Feb 2024 Direct
transaction OTIS Common Stock Options Exercise +578 +9.4% 6,727 07 Feb 2024 Direct F1
transaction OTIS Common Stock Tax liability $-16,060 -175 -2.6% $91.77 6,552 07 Feb 2024 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction OTIS Restricted Stock Units Award $0 +1,996 $0.000000 1,996 06 Feb 2024 Common Stock 1,996 Direct F1, F2
transaction OTIS Stock Appreciation Rights Award $0 +7,544 $0.000000 7,544 06 Feb 2024 Common Stock 7,544 $91.94 Direct F2
transaction OTIS Restricted Stock Units Options Exercise $0 -578 -33.1% $0.000000 1,168 07 Feb 2024 Common Stock 578 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units (RSUs) convert into common stock on a one-for-one basis. RSUs include the right to receive dividend equivalents that are credited as additional RSUs.
F2 RSUs and stock appreciation rights vest in three substantially equal annual installments beginning on the first anniversary of the Transaction Date.
F3 On February 7, 2023, the reporting person was granted RSUs vesting in three substantially equal annual installments beginning on the first anniversary of the grant date. The first installment vested on the Transaction Date.
F4 The acquisition of Otis common stock represents the vesting of performance share units (PSUs) previously awarded on February 5, 2021. Each PSU has a value equal to one share of Otis common stock. These PSUs vested on the Transaction Date upon the achievement of the 3-year cycle preestablished performance targets. The performance criteria were certified to be achieved at the 200% level.