M. Preston Margaret - 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 $: $198,000
Form type: 4
Date filed: 5/22/2023, 06:31 PM
Previous filing: May 19, 2023
Next filing: Sep 6, 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	$198K	+2.34K	+20.99%	$84.50	13.5K	May 18, 2023	Common Stock	2.34K		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. DSUs 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. DSUs accrue dividend equivalents.