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Otis Worldwide Corp·4

Feb 5, 7:50 PM ET

Mendez Echevarria Maria Cristina 4

Research Summary

AI-generated summary

Updated

Otis (OTIS) CFO Maria Mendez Echevarria Receives Awards, Sells Shares

What Happened

  • Maria Cristina Mendez Echevarria, EVP & CFO of Otis Worldwide (OTIS), had equity awards vest and converted derivative securities into common stock on Feb 3–4, 2026. The filing shows grants/awards and conversions that resulted in acquisitions of shares and the disposition of shares to satisfy tax withholding: 641 shares withheld at $87.16 (proceeds $55,870) and 1,699 shares withheld at $90.37 (proceeds $153,539), a total of 2,340 shares withheld for taxes (~$209,409). The filing also reports grant/award entries of 1,639 shares (Feb 3) and 14,771 shares (reported as derivative/PSU award), and conversion/exercise of 4,333 derivative shares on Feb 4.

Key Details

  • Transaction dates and prices:
    • Feb 3, 2026: Grant/acquisition of 1,639 shares (award/RSU).
    • Feb 3, 2026: Grant/acquisition of 14,771 shares (PSU award; recorded as derivative).
    • Feb 3, 2026: 641 shares withheld to cover taxes at $87.16 (disposed; $55,870).
    • Feb 4, 2026: Conversion/exercise of 4,333 derivative shares (acquired).
    • Feb 4, 2026: 1,699 shares withheld to cover taxes at $90.37 (disposed; $153,539).
  • Shares withheld for taxes: 2,340 shares total; cash value of withholdings ≈ $209,409.
  • Shares owned after the transactions: not specified in the provided filing excerpt.
  • Footnotes of note:
    • RSUs convert one-for-one to common stock and include dividend equivalents (F1).
    • RSUs vest in three substantially equal annual installments beginning on the first anniversary of the grant (F2,F3).
    • The reported PSUs (granted Feb 7, 2023) vested upon meeting 3‑year performance targets at 82% of target; those PSUs converted to common stock on the Transaction Date (F4).
  • Timeliness: Filing dated Feb 5, 2026 for Feb 3–4 transactions — appears timely based on the provided dates.

Context

  • These transactions are routine compensation events: RSUs and performance share units vested and converted to common stock, and a portion of the shares were surrendered/withheld to cover tax liabilities (a common practice, not an open‑market sale). No open‑market purchases or discretionary sales by the insider are reported in this filing.