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|4Feb 5, 7:53 PM ET

de Montlivault Stephane 4

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Otis Exec Stephane de Montlivault Receives 7,931 RSUs, Exercises PSUs

What Happened
Stephane de Montlivault, President, Otis Asia Pacific, received 7,931 restricted stock units (RSUs) that converted into common shares and had performance share units (PSUs) vest into 2,166 common shares. The PSU shares vested upon certification of performance at 82% of target; the same 2,166 shares were surrendered/disposed to satisfy withholding obligations (reported at $0.00), so the PSUs produced no net cash proceeds. No open-market sale or purchase occurred — these were compensation vesting events.

Key Details

  • Transaction dates: RSU vesting/acquisition reported 2026-02-03 (7,931 shares); PSU conversion/exercise reported 2026-02-04 (2,166 shares acquired, 2,166 shares disposed at $0.00).
  • Prices/values: RSUs and PSU conversions reported as N/A for price; disposed PSU shares reported at $0.00 (used to satisfy withholding).
  • Net effect: 7,931 newly vested RSU shares added to holdings; the 2,166 PSU shares vested but were fully withheld/surrendered, producing no net share increase from the PSUs.
  • Shares owned after transaction: not stated in the provided filing excerpt.
  • Footnotes of note:
    • RSUs convert one-for-one into common stock and include dividend equivalents credited as additional RSUs (F1).
    • The RSUs were part of a Feb 4, 2025 grant that vests in three annual installments; the first installment vested on the transaction date (F2).
    • The PSUs were granted Feb 7, 2023 and vested at 82% of target upon certification (F3).
  • Filing: Reported to the SEC on Feb 5, 2026 for transactions on Feb 3–4, 2026; no late filing was indicated in the provided data.

Context

  • These transactions are compensation-related vesting events (awards converting to shares) rather than open-market buys or sales. The PSU disposal at $0.00 indicates shares were surrendered to cover tax/withholding obligations (a common, non-cashless settlement) rather than a market sale for proceeds.
  • Such vesting events are routine components of executive compensation and do not, by themselves, demonstrate an insider buying or selling stock in the market.