Peiming Zheng - 03 Feb 2025 Form 4 Insider Report for Otis Worldwide Corp (OTIS)

Role
EVP, Chief Product, Delivery
Signature
Toby Smith, Attorney-in-Fact
Issuer symbol
OTIS
Transactions as of
03 Feb 2025
Net transactions value
-$354,747
Form type
4
Filing time
05 Feb 2025, 20:31:51 UTC
Previous filing
04 Feb 2025
Next filing
10 Feb 2025
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 +1,280 +757% 1,449 03 Feb 2025 Direct F1
transaction OTIS Common Stock Tax liability $53,326 -564 -39% $94.55 885 03 Feb 2025 Direct
transaction OTIS Common Stock Award +6,884 +778% 7,769 04 Feb 2025 Direct F4
transaction OTIS Common Stock Tax liability $301,421 -3,192 -41% $94.43 4,577 04 Feb 2025 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 -1,280 -100% $0.000000 0 03 Feb 2025 Common Stock 1,280 Direct F1, F2
transaction OTIS Restricted Stock Units Award $0 +9,585 $0.000000 9,585 04 Feb 2025 Common Stock 9,585 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 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 last installment vested on the Transaction Date.
F3 RSUs vest in three substantially equal annual installments beginning on the first anniversary of the Transaction Date.
F4 The acquisition of Otis common stock represents the vesting of performance share units (PSUs) previously awarded on February 3, 2022. 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 82% level.