KEARNEY CHRISTOPHER J 4
4 · Otis Worldwide Corp · Filed May 23, 2022
Insider Transaction Report
Form 4
KEARNEY CHRISTOPHER J
Director
Transactions
- Award
Deferred Stock Units
2022-05-19$72.59/sh+4,270.56$310,000→ 7,060.309 total→ Common Stock (4,270.56 underlying)
Footnotes (1)
- [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. The total also includes vested DSUs and vested deferred restricted stock units that the reporting person received from UTC, our former parent company, that were converted in the spin-off from UTC. Vested deferred restricted stock units are equivalent to DSUs. Both DSUs and deferred restricted stock units accrue dividend equivalents.