Green Neil 4

Accession 0001781335-26-000026

CIK 0001781335other

Filed

Feb 4, 7:00 PM ET

Accepted

Feb 5, 7:44 PM ET

Size

13.6 KB

Accession

0001781335-26-000026

AI-generated summary of this filing

Updated Feb 6, 2026

Otis (OTIS) EVP Neil Green Receives Awards, Exercises Options

What Happened

Neil Green, EVP & Chief Digital Officer of Otis Worldwide (OTIS), reported awards vesting and the conversion/exercise of derivative awards. The filing shows awards/vestings on Feb 3–4, 2026 and related tax-withholding share dispositions.
Reported activity: 2,961 shares were issued on vesting of performance share units (PSUs) and 1,155 shares were acquired via exercise/conversion. Separately, 3,693 RSU-related derivative units were recorded as granted/recognized. To satisfy tax withholding, 976 shares were disposed at $87.16 ($85,068) and 349 shares were disposed at $90.37 ($31,539), for total cash withheld of $116,607. Net of the withholding, the transactions increased his held shares by roughly 2,791 shares (4,116 acquired minus 1,325 withheld).

Key Details

Transaction dates and codes:
- 2026-02-03: Award/vesting (Code A) — 2,961 shares (PSU vesting) and 3,693 RSU units recorded (derivative).
- 2026-02-03: Tax withholding (Code F) — 976 shares disposed at $87.16 for $85,068.
- 2026-02-04: Exercise/conversion (Code M) — 1,155 shares acquired; related derivative entries also reported.
- 2026-02-04: Tax withholding (Code F) — 349 shares disposed at $90.37 for $31,539.
Proceeds from withheld shares: $85,068 + $31,539 = $116,607.
Shares owned after transaction: not specified in the filing.
Footnotes of note:
- RSUs convert one-for-one into common stock and include dividend equivalents (F1).
- RSUs vest in three substantially equal annual installments; the RSUs granted Feb 4, 2025 had their first installment vest on the transaction date (F2, F3).
- The 2,961 shares reflect PSUs from a Feb 7, 2023 award that vested at 82% of target after the 3-year performance cycle (F4).
Timeliness: Filing dated Feb 5, 2026 covering Feb 3–4 transactions — appears timely (Form 4 is due within 2 business days).

Context

These filings reflect vesting/settlement of PSUs and RSUs and the conversion/exercise of derivative awards, not an open-market purchase or sale for investment purposes. The disposals here were tax-withholding (Code F), a routine mechanism where the company withholds shares to cover required taxes rather than paying cash.
For retail investors: award vesting and conversions increase insider holdings (after withholding), but such awards are typically pre-set compensation events tied to service and performance metrics (here, PSUs certified at 82% of target).

Form 4

Period: 2026-02-03

EVP & Chief Digital Officer

Transactions

Award
Common Stock
[F4]
2026-02-03+2,961→ 6,734 total
Tax Payment
Common Stock
2026-02-03$87.16/sh−976$85,068→ 5,758 total
Exercise/Conversion
Common Stock
[F1]
2026-02-04+1,155→ 6,913 total
Tax Payment
Common Stock
2026-02-04$90.37/sh−349$31,539→ 6,564 total
Award
Restricted Stock Units
[F1][F2]
2026-02-03+3,693→ 3,693 total
→ Common Stock (3,693 underlying)
Exercise/Conversion
Restricted Stock Units
[F1][F3]
2026-02-04−1,155→ 2,314 total
→ Common Stock (1,155 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

Otis Worldwide Corp

CIK 0001781335

Entity typeother