Michael Patrick Ryan - 06 Feb 2024 Form 4 Insider Report for Otis Worldwide Corp (OTIS)

Reporting relationship: SVP, CAO & Controller
Issuer ticker: OTIS
Reported as of: 06 Feb 2024
Net transaction value: -$165,656
SEC form: 4
Accepted by SEC: 08 Feb 2024, 17:15:46 UTC
Prior SEC filing: 06 Feb 2024
Next SEC filing: 20 Feb 2024
Source filing: View source filing
Reporting owner signature: Joshua Mullin, Attorney-in-Fact

Key filing fact

Michael Patrick Ryan filed Form 4 for Otis Worldwide Corp (OTIS) on 08 Feb 2024.

Key facts

This page summarizes Michael Patrick Ryan's Form 4 filing for Otis Worldwide Corp (OTIS).
7 reported transactions and 3 derivative rows are listed below.
Accepted by SEC: 08 Feb 2024, 17:15.

Change

Previous filing in this sequence was filed on 06 Feb 2024.
Current net transaction value: -$165,656.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

OTIS transaction

Common Stock

Award

Transaction value
Shares: +5,210
Change %: +1024%
Price
Shares after: 5,719
Date: 06 Feb 2024
Ownership: Direct
Footnotes: F4

OTIS transaction

Common Stock

Tax liability

Transaction value: $155,195
Shares: -1,688
Change %: -30%
Price: $91.94
Shares after: 4,031
Date: 06 Feb 2024
Ownership: Direct

OTIS transaction

Common Stock

Options Exercise

Transaction value
Shares: +361
Change %: +9%
Price
Shares after: 4,392
Date: 07 Feb 2024
Ownership: Direct
Footnotes: F1

OTIS transaction

Common Stock

Tax liability

Transaction value: $10,462
Shares: -114
Change %: -2.6%
Price: $91.77
Shares after: 4,278
Date: 07 Feb 2024
Ownership: Direct

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

OTIS transaction Derivative

Restricted Stock Units

Award

Transaction value: $0
Shares: +998
Change %
Price: $0.000000
Shares after: 998
Date: 06 Feb 2024
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 998
Exercise price
Footnotes: F1, F2

OTIS transaction Derivative

Stock Appreciation Rights

Award

Transaction value: $0
Shares: +3,772
Change %
Price: $0.000000
Shares after: 3,772
Date: 06 Feb 2024
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 3,772
Exercise price: $91.94
Footnotes: F2

OTIS transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -361
Change %: -33%
Price: $0.000000
Shares after: 730
Date: 07 Feb 2024
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 361
Exercise price
Footnotes: F1, F3

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote 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.

Footnote F2

RSUs and stock appreciation rights vest in three substantially equal annual installments beginning on the first anniversary of the Transaction Date.

Footnote 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.

Footnote 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.