KEARNEY CHRISTOPHER J 4
4 · Otis Worldwide Corp · Filed May 29, 2026
Research Summary
AI-generated summary of this filing
Otis Director Christopher Kearney Receives DSU Award ($186K)
What Happened
Christopher J. Kearney, a non-employee director of Otis Worldwide Corp (OTIS), was granted 2,590.89 deferred stock units (DSUs) on May 27, 2026. The grant is reported at $71.79 per unit, for a total reported value of $186,000. The transaction is coded "A" (award/other acquisition) and is a derivative award of deferred compensation rather than an open-market purchase.
Key Details
- Transaction date: 2026-05-27; grant price/value per unit: $71.79.
- Shares/units received: 2,590.89 DSUs; total reported value: $186,000.
- Transaction code: A (award/acquisition — derivative).
- Shares owned after the transaction: Not disclosed on this Form 4.
- Footnote F1: DSUs were granted under the Board of Directors Deferred Stock Unit Plan. DSUs convert into an equal number of common shares upon the director's retirement or termination (distribution elected as lump-sum or installments) and accrue dividend equivalents.
- Filing: Form 4 filed 2026-05-29 for a 2026-05-27 transaction (filed within the standard two-business-day window).
- Exhibit: Exhibit 24 (Power of Attorney) attached.
Context
DSUs are a form of deferred compensation for non-employee directors. They are treated as derivatives on this filing because they convert to actual shares only upon a future triggering event (retirement/termination) rather than representing immediate share ownership or an open-market purchase. Such awards are routine director compensation and do not indicate an immediate buy/sell of stock.
Insider Transaction Report
- Award
Deferred Stock Units
[F1]2026-05-27$71.79/sh+2,590.89$186,000→ 19,544.49 total→ Common Stock (2,590.89 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. DSUs accrue dividend equivalents.