Christopher J. Kearney - May 19, 2022 Form 4 Insider Report for Otis Worldwide Corp (OTIS)

Role: Director
Signature: Joshua Mullin, Attorney-in-Fact
Stock symbol: OTIS
Transactions as of: May 19, 2022
Transactions value $: $310,000
Form type: 4
Date filed: 5/23/2022, 04:28 PM
Previous filing: Feb 7, 2022
Next filing: Jun 3, 2022

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	Deferred Stock Units	Award	$310K	+4.27K	+153.08%	$72.59	7.06K	May 19, 2022	Common Stock	4.27K		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reporting person acquired these deferred stock units (DSUs) under the Board of Directors Deferred Stock Unit Plan (the Plan) for service as a non-employee director. The Plan provides for payment of a portion or all of the annual director compensation in DSUs. Upon retirement or termination, the DSUs in the director's account under the Plan are converted into an equal number of shares of common stock that, at the director's previous election, are distributed either in a lump-sum or in installments. The total also includes vested DSUs and vested deferred restricted stock units that the reporting person received from UTC, our former parent company, that were converted in the spin-off from UTC. Vested deferred restricted stock units are equivalent to DSUs. Both DSUs and deferred restricted stock units accrue dividend equivalents.

Content

The reporting person acquired these deferred stock units (DSUs) under the Board of Directors Deferred Stock Unit Plan (the Plan) for service as a non-employee director. The Plan provides for payment of a portion or all of the annual director compensation in DSUs. Upon retirement or termination, the DSUs in the director's account under the Plan are converted into an equal number of shares of common stock that, at the director's previous election, are distributed either in a lump-sum or in installments. The total also includes vested DSUs and vested deferred restricted stock units that the reporting person received from UTC, our former parent company, that were converted in the spin-off from UTC. Vested deferred restricted stock units are equivalent to DSUs. Both DSUs and deferred restricted stock units accrue dividend equivalents.