Nora E. LaFreniere - Nov 30, 2021 Form 4 Insider Report for Otis Worldwide Corp (OTIS)

Role
EVP & General Counsel
Signature
Joshua Mullin, Attorney-in-Fact
Stock symbol
OTIS
Transactions as of
Nov 30, 2021
Transactions value $
$0
Form type
4
Date filed
12/2/2021, 02:27 PM
Next filing
Feb 7, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OTIS Common Stock Options Exercise $42K +523 +3.66% $80.40 14.8K Nov 30, 2021 Direct
transaction OTIS Common Stock Tax liability -$42K -523 -3.53% $80.40 14.3K Nov 30, 2021 Direct
transaction OTIS Common Stock Options Exercise $29.4K +366 +2.56% $80.40 14.7K Nov 30, 2021 Direct
transaction OTIS Common Stock Tax liability -$29.4K -366 -2.5% $80.40 14.3K Nov 30, 2021 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 -523 -4.2% $0.00 11.9K Nov 30, 2021 Common Stock 523 $0.00 Direct F1, F2
transaction OTIS Restricted Stock Units Options Exercise $0 -366 -4.2% $0.00 8.35K Nov 30, 2021 Common Stock 366 $0.00 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of common stock from the issuer.
F2 The reporting person was originally granted performance stock units by UTC, the former parent company of the issuer. Since the date of the spin-off of the issuer, these performance conditions no longer apply. This transaction reflects a reduction in the RSUs otherwise deliverable upon future vesting in order to satisfy FICA taxes that are due because the reporting person qualifies for retirement treatment under the award.
F3 The reporting person was originally granted restricted stock units by UTC, the former parent company of the issuer. This transaction reflects a reduction in the RSUs otherwise deliverable upon future vesting in order to satisfy FICA taxes that are due because the reporting person qualifies for retirement treatment under the award. These RSUs accrue dividend equivalents.