Ryan Michael Patrick 4
4 · Otis Worldwide Corp · Filed Feb 5, 2026
Research Summary
AI-generated summary of this filing
Otis (OTIS) SVP & Controller Ryan M. Patrick Receives RSUs/PSUs; Shares Withheld
What Happened
Ryan Michael Patrick, SVP, CAO & Controller of Otis Worldwide (OTIS), had equity awards vest and converted into common stock on Feb 3–4, 2026. The filing shows 1,850 shares from an RSU award and 1,657 shares from performance share units (PSUs) vested (total 3,507 shares). He also converted/exercised 532 derivative shares on Feb 4. To cover tax liabilities, 668 shares were surrendered on Feb 3 for $58,223 and 167 shares were surrendered on Feb 4 for $15,092 (total taxes withheld: $73,315).
Key Details
- Transaction dates: Feb 3–4, 2026; Form 4 filed Feb 5, 2026 (timely filing).
- Awards/vests: 1,850 RSUs (grant/award entry) and 1,657 PSUs vested (derivative entry).
- Derivative conversion: 532 shares reported as exercised/converted on Feb 4 (code M).
- Tax withholding (code F): 668 shares @ $87.16 = $58,223; 167 shares @ $90.37 = $15,092; total $73,315. 835 shares surrendered in total to cover taxes.
- Footnotes: RSUs convert 1-for-1 to common stock and include dividend equivalents (F1–F3). PSUs awarded Feb 7, 2023 vested at 82% of target and converted into common stock (F4).
- Shares owned after the transactions: not disclosed in the provided excerpt.
Context
- The F-code transactions indicate shares were withheld/surrendered to satisfy tax withholding from the vesting events (a common practice), not open-market sales.
- The PSU vesting was performance-based (certified at 82% of target) and converted to shares at that payout level.
- Conversion/exercise (code M) plus withholding often reflects a cashless or share-surrender arrangement to cover taxes rather than a separate market sale.
- These entries reflect compensation/vesting activity by an executive, not an open-market buy or discretionary sale.
Insider Transaction Report
Form 4
Ryan Michael Patrick
SVP, CAO & Controller
Transactions
- Award
Common Stock
[F4]2026-02-03+1,850→ 4,498 total - Tax Payment
Common Stock
2026-02-03$87.16/sh−668$58,223→ 3,830 total - Exercise/Conversion
Common Stock
[F1]2026-02-04+532→ 4,362 total - Tax Payment
Common Stock
2026-02-04$90.37/sh−167$15,092→ 4,195 total - Award
Restricted Stock Units
[F1][F2]2026-02-03+1,657→ 1,657 total→ Common Stock (1,657 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F3]2026-02-04−532→ 1,073 total→ Common Stock (532 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