Green Neil 4

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).