Christopher J. Kearney - May 18, 2023 Form 4 Insider Report for Otis Worldwide Corp (OTIS)

Role
Director
Signature
Joshua Mullin, Attorney-in-fact
Stock symbol
OTIS
Transactions as of
May 18, 2023
Transactions value $
$310,000
Form type
4
Date filed
5/22/2023, 05:42 PM
Previous filing
Jun 3, 2022
Next filing
Jun 5, 2023

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 +3.67K +49.25% $84.50 11.1K May 18, 2023 Common Stock 3.67K 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.