Armas Joseph Jay 4

4 · Otis Worldwide Corp · Filed Feb 5, 2026

AI-generated summary of this filing

Updated Feb 6, 2026

Otis (OTIS) President Jay Armas Receives Awards, Exercises/Converts Equity

What Happened

Jay Armas, President of Otis Americas, received equity from vesting awards and converted derivative units. On Feb 3–4, 2026 he was issued 7,609 shares from vested performance share units (PSUs) and 1,110 shares from RSU awards (8,719 total), and converted/exercised 431 derivative units (total issued = 9,150). To satisfy tax withholding, 333 shares were withheld on Feb 3 (at $87.16, $29,024) and 124 shares were withheld on Feb 4 (at $90.37, $11,206), totaling about $40,230 in withholding. The PSU award vested at 82% of target.

Key Details

Transaction dates: Feb 3, 2026 (PSU/RSU vesting and tax withholding) and Feb 4, 2026 (derivative conversion and tax withholding).
Prices/withholdings: 333 shares withheld @ $87.16 = $29,024; 124 shares withheld @ $90.37 = $11,206; other awards/conversions reported at $0.00 as these reflect vesting/conversion rather than open-market trades.
Footnotes: PSUs (granted Feb 7, 2023) vested at 82% of target (F4). RSUs convert 1:1 to shares, include dividend equivalents, and vest in three equal annual installments beginning on the first anniversary (F1–F3).
Type of transactions: A = grant/award (RSU/PSU vesting); M = conversion/exercise of derivative; F = share disposition for tax withholding.
Filing timeliness: Report filed Feb 5, 2026 for transactions on Feb 3–4, 2026 — appears timely (no late filing indicated).
Shares owned after transaction: Not specified in the provided excerpt.

Context

This was not an open-market purchase or a sale for investment; these entries reflect equity awards vesting and the conversion/exercise of derivative awards, with shares withheld to cover tax liabilities (common for RSU/PSU vesting). PSUs paid out at 82% of target, so the awarded share count reflects performance below maximum. These actions are routine compensation-related transactions, not necessarily a direct signal of personal buying/selling preferences.

Form 4

Period: 2026-02-03

President, Otis Americas

Transactions

Award
Common Stock
[F4]
2026-02-03+1,110→ 1,370.377 total
Tax Payment
Common Stock
2026-02-03$87.16/sh−333$29,024→ 1,037.377 total
Exercise/Conversion
Common Stock
[F1]
2026-02-04+431→ 1,468.377 total
Tax Payment
Common Stock
2026-02-04$90.37/sh−124$11,206→ 1,344.377 total
Award
Restricted Stock Units
[F1][F2]
2026-02-03+7,609→ 7,609 total
→ Common Stock (7,609 underlying)
Exercise/Conversion
Restricted Stock Units
[F1][F3]
2026-02-04−431→ 870 total
→ Common Stock (431 underlying)

Footnotes (4)

[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]RSUs vest in three substantially equal annual installments beginning on the first anniversary of the Transaction Date.
[F3]On February 4, 2025, the reporting person was granted RSUs vesting in three substantially equal annual installments beginning on the first anniversary of the grant date. The first installment vested on the Transaction Date.
[F4]The acquisition of Otis common stock represents the vesting of performance share units (PSUs) previously awarded on February 7, 2023. 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.

Signature

Susan Grady, Attorney-in-Fact|2026-02-05

1 file