Christopher John Nelson - Feb 10, 2023 Form 4 Insider Report for CARRIER GLOBAL Corp (CARR)

Signature
/s/ William Langston as Attorney-in-Fact
Stock symbol
CARR
Transactions as of
Feb 10, 2023
Transactions value $
-$9,668,060
Form type
4
Date filed
2/14/2023, 03:09 PM
Previous filing
Feb 7, 2023
Next filing
May 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CARR Common Stock Options Exercise $0 +138 +0.14% $0.00 97.3K Feb 10, 2023 Direct F1
transaction CARR Common Stock Tax liability -$2.64K -59 -0.06% $44.83 97.3K Feb 10, 2023 Direct
transaction CARR Common Stock Options Exercise $8.3M +396K +407.07% $20.95 493K Feb 13, 2023 Direct F2
transaction CARR Common Stock Disposed to Issuer -$8.3M -183K -37.03% $45.42 311K Feb 13, 2023 Direct
transaction CARR Common Stock Sale -$9.67M -213K -68.68% $45.30 97.3K Feb 13, 2023 Direct F3

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 CARR Restricted Stock Unit RSU Options Exercise $0 -138 -100% $0.00* 0 Feb 10, 2023 Common Stock 138 Direct F1, F4
transaction CARR Stock Appreciation Right Options Exercise $0 -396K -100% $0.00* 0 Feb 13, 2023 Common Stock 396K $20.95 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit (RSU), including dividend equivalents that accrue during the vesting period, represents a contingent right to receive one share of Carrier Global Corporation common stock. The RSUs vest contingent upon the reporting person's continued employment at the conclusion of the vesting period.
F2 The Stock Appreciation Rights (SARs) were settled in shares in accordance with terms of the award. For Section 16 reporting purposes, the exercise of SARs for stock is treated as an exempt acquisition of the shares underlying the SARs at the exercise price per share specified in the award of SARs and a simultaneous sale back to the issuer of a number of the underlying shares having a value, based on the market price of the issuer's stock on the date of the exercise, equal to the product of the number of underlying SARs times the exercise price per share.
F3 The price reported in Column 4 is a weighted average price for shares sold in multiple transactions. The sale prices range from $45.175 to $45.445 per share. The reporting person has provided to the issuer, and undertakes to provide to the Commission staff or a security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the range.
F4 The reporting person was granted RSUs on February 4, 2020 by United Technologies Corporation (UTC), the former parent of the issuer. These RSUs were converted into RSUs of the issuer in connection with the spin-off of the issuer by UTC. And on February 7, 2023, the reporting person reported that the previously awarded RSUs, including dividend equivalents, vested and converted to Carrier common stock. Those previously awarded RSUs were entitled to additional dividend equivalents that were not payable until February 10, 2023.