Nora E. LaFreniere - Feb 3, 2025 Form 4 Insider Report for Otis Worldwide Corp (OTIS)

Role
EVP, General Counsel
Signature
Toby Smith, Attorney-in-Fact
Stock symbol
OTIS
Transactions as of
Feb 3, 2025
Transactions value $
-$840,706
Form type
4
Date filed
2/5/2025, 08:29 PM
Previous filing
Dec 19, 2024
Next filing
Feb 10, 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OTIS Common Stock Options Exercise +1.51K +6.05% 26.4K Feb 3, 2025 Direct F1
transaction OTIS Common Stock Tax liability -$66.2K -700 -2.65% $94.55 25.7K Feb 3, 2025 Direct
transaction OTIS Common Stock Award +7.39K +28.73% 33.1K Feb 4, 2025 Direct F4
transaction OTIS Common Stock Tax liability -$324K -3.43K -10.35% $94.43 29.7K Feb 4, 2025 Direct
transaction OTIS Common Stock Sale -$451K -4.78K -16.08% $94.41 24.9K Feb 5, 2025 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 Options Exercise $0 -1.51K -100% $0.00 0 Feb 3, 2025 Common Stock 1.51K Direct F1, F2
transaction OTIS Restricted Stock Units Award $0 +7.46K $0.00 7.46K Feb 4, 2025 Common Stock 7.46K 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 On February 3, 2022, the reporting person was granted RSUs vesting in three substantially equal annual installments beginning on the first anniversary of the grant date. The last installment vested on the Transaction Date.
F3 RSUs vest in three substantially equal annual installments beginning on the first anniversary of the Transaction Date.
F4 The acquisition of Otis common stock represents the vesting of performance share units (PSUs) previously awarded on February 3, 2022. 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 82% level.