Abbe Luersman - 03 Feb 2023 Form 4 Insider Report for Otis Worldwide Corp (OTIS)

Role: EVP & CPO
Signature: Joshua A. Mullin
Issuer symbol: OTIS
Transactions as of: 03 Feb 2023
Net transactions value: -$37,790
Form type: 4
Filing time: 07 Feb 2023, 17:22:28 UTC
Previous filing: 02 Aug 2022
Next filing: 03 Aug 2023
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		+1,252	+152%		2,075	03 Feb 2023	Direct	F1
transaction	OTIS	Common Stock	Tax liability	$37,790	-446	-21%	$84.73	1,629	03 Feb 2023	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	-1,252	-33%	$0.000000	2,516	03 Feb 2023	Common Stock	1,252		Direct	F1, F2
transaction	OTIS	Restricted Stock Units	Award	$0	+3,993		$0.000000	3,993	07 Feb 2023	Common Stock	3,993		Direct	F1, F3
transaction	OTIS	Stock Appreciation Riights	Award	$0	+13,633		$0.000000	13,633	07 Feb 2023	Common Stock	13,633	$83.63	Direct	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 first installment vested on the Transaction Date.
F3	RSUs and stock appreciation rights vest in three substantially equal annual installments beginning on the first anniversary of the Transaction Date.