Ryan Michael Patrick 4

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.