4//SEC Filing
Marks Judith Fran 4
Accession 0001062993-25-001779
CIK 0001781335other
Filed
Feb 4, 7:00 PM ET
Accepted
Feb 5, 8:28 PM ET
Size
22.3 KB
Accession
0001062993-25-001779
Insider Transaction Report
Form 4
Marks Judith Fran
DirectorChair, CEO and President
Transactions
- Exercise/Conversion
Common Stock
2025-02-03+10,372→ 219,698 total - Tax Payment
Common Stock
2025-02-04$94.43/sh−12,087$1,141,375→ 255,455 total - Exercise/Conversion
Common Stock
2025-02-05$67.83/sh+101,096$6,857,342→ 356,551 total - Sale
Common Stock
2025-02-05$94.41/sh−38,012$3,588,789→ 245,883 total - Award
Restricted Stock Units
2025-02-04+54,314→ 54,314 total→ Common Stock (54,314 underlying) - Exercise/Conversion
Stock Appreciation Right
2025-02-05−101,096→ 0 totalExercise: $67.83From: 2021-01-02Exp: 2028-01-01→ Common Stock (101,096 underlying) - Tax Payment
Common Stock
2025-02-03$94.55/sh−3,153$298,116→ 216,545 total - Award
Common Stock
2025-02-04+50,997→ 267,542 total - Disposition to Issuer
Common Stock
2025-02-05$94.38/sh−72,656$6,857,273→ 283,895 total - Exercise/Conversion
Restricted Stock Units
2025-02-03−10,372→ 0 total→ Common Stock (10,372 underlying)
Holdings
- 12,800(indirect: by 2023 GRAT)
Common Stock
Footnotes (7)
- [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. The reporting person previously elected to defer 50% of this award under the LTIP PSU Deferral Plan upon vesting. Any vested shares that are deferred under this plan are credited as DSUs and will be settled in stock. The DSUs will be paid out in an equal number of shares of Otis common stock in accordance with the reporting person's previous elections. DSUs accrue dividend equivalents.
- [F5]This transaction was effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on July 30, 2024. The shares sold in multiple trades at prices ranging from $93.535 to $94.825. The price reported above reflects the weighted average sale price. The reporting person undertakes to provide the registrant, any security holder of the registrant, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range set forth above. The number of shares sold includes the shares received by the reporting person upon the vesting of the PSUs previously awarded on February 3, 2022 after giving effect to the tax withholdings and the 50% PSU deferral election.
- [F6]Includes (i) 9,700 shares previously held through the 2023 GRAT which were transferred to the reporting person on August 26, 2024 and are now owned directly and (ii) 1,045 dividend equivalents issued on DSU's under the LTIP PSU Deferral Plan since March 2024.
- [F7]This transaction was effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on July 30, 2024.
Issuer
Otis Worldwide Corp
CIK 0001781335
Entity typeother
Related Parties
1- filerCIK 0001665490
Filing Metadata
- Form type
- 4
- Filed
- Feb 4, 7:00 PM ET
- Accepted
- Feb 5, 8:28 PM ET
- Size
- 22.3 KB