Minarro Viseras Enrique 4

What Happened

• Enrique Minarro Viseras, Chief Operating Officer of Otis Worldwide (OTIS), received equity awards that vested in early February 2026 and had shares withheld/sold to cover tax obligations. The filing shows 13,525 RSUs and 15,666 performance share units (PSUs) converted into common stock (total ~29,191 shares) on Feb 3–4, 2026. The PSUs were the result of a Nov 1, 2023 award that vested at 82% of target.
• To satisfy tax withholding, 6,357 shares were disposed on Feb 3 at $87.16 for proceeds of $554,076, and 1,868 shares were disposed on Feb 4 at $90.37 for $168,811 — total proceeds ≈ $722,887. The filing also reports conversion/exercise of 3,973 derivative units on Feb 4 (reported as exercised/converted).

Key Details

• Transaction dates and amounts:
  • 2026-02-03: A — 13,525 RSUs acquired (RSUs convert 1:1; include dividend equivalents).
  • 2026-02-03: F — 6,357 shares disposed @ $87.16 for $554,076 (tax withholding).
  • 2026-02-03: A — 15,666 PSUs acquired (vested at 82% performance level; $0 per share reported).
  • 2026-02-04: M — 3,973 derivative units exercised/converted (reported acquired).
  • 2026-02-04: F — 1,868 shares disposed @ $90.37 for $168,811 (tax withholding).
• Shares owned after the transactions: not specified in the filing.
• Notable footnotes:
  • RSUs convert one-for-one to common stock and include dividend equivalents (F1).
  • RSUs vest in three substantially equal annual installments starting on the first anniversary of grant (F2, F3).
  • PSUs awarded 11/01/2023 vested on the Transaction Date at 82% of target (F4).
  • Dispositions coded F reflect shares withheld/sold to satisfy tax obligations (not an open-market sell for cash diversification).
• Timeliness: Form 4 filed Feb 5, 2026 for transactions on Feb 3–4, 2026 — appears timely (within required reporting window).

Context

• These transactions are mainly award vestings (acquisitions) rather than purchases; the reported sales were tax-related withholdings, a routine administrative step that does not necessarily indicate a change in the insider’s view of the stock.
• The conversion/exercise of derivative units (M) reflects settlement of award units into common shares. Disposals tied to code F are common for “sell to cover” tax obligations following vesting.