Anurag Maheshwari - 06 Feb 2024 Form 4 Insider Report for Otis Worldwide Corp (OTIS)

Role
EVP & CFO
Signature
Joshua Mullin, Attorney-in-Fact
Issuer symbol
OTIS
Transactions as of
06 Feb 2024
Net transactions value
-$264,831
Form type
4
Filing time
08 Feb 2024, 17:12:22 UTC
Previous filing
06 Feb 2024
Next filing
05 Sep 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OTIS Common Stock Award +6,812 +26% 33,168 06 Feb 2024 Direct F4
transaction OTIS Common Stock Tax liability $189,029 -2,056 -6.2% $91.94 31,112 06 Feb 2024 Direct
transaction OTIS Common Stock Options Exercise +2,701 +8.7% 33,813 07 Feb 2024 Direct F1
transaction OTIS Common Stock Tax liability $75,802 -826 -2.4% $91.77 32,987 07 Feb 2024 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 Award $0 +8,268 $0.000000 8,268 06 Feb 2024 Common Stock 8,268 Direct F1, F2
transaction OTIS Stock Appreciation Rights Award $0 +31,250 $0.000000 31,250 06 Feb 2024 Common Stock 31,250 $91.94 Direct F2
transaction OTIS Restricted Stock Units Options Exercise $0 -2,701 -33% $0.000000 5,408 07 Feb 2024 Common Stock 2,701 Direct F1, 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 RSUs and stock appreciation rights vest in three substantially equal annual installments beginning on the first anniversary of the Transaction Date.
F3 On February 7, 2023, 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.
F4 The acquisition of Otis common stock represents the vesting of performance share units (PSUs) previously awarded on February 5, 2021. Each PSU has a value equal to one share of Otis common stock. These PSUs vested on the Transaction Date upon the achievement of the 3-year cycle preestablished performance targets. The performance criteria were certified to be achieved at the 200% level.