Zheng Peiming 4

4 · Otis Worldwide Corp · Filed Feb 5, 2026

AI-generated summary of this filing

Updated Feb 6, 2026

Otis (OTIS) EVP Zheng Peiming Receives Awards and Sells Shares

What Happened

Zheng Peiming, Executive Vice President & Chief Product, Delivery at Otis, received a mix of vested awards and exercised/converted derivative awards totaling 12,720 shares (7,931 + 1,539 + 3,250). To satisfy tax and exercise obligations, 4,546 shares were withheld/settled (2,556 + 483 + 1,507), producing cash proceeds of about $401,067 (aggregate of $222,781; $42,098; $136,188). These transactions are award/vesting and settlement actions rather than open-market purchases.

Key Details

Transaction dates: February 3–4, 2026. Filing date: February 5, 2026 (timely filed).
Transaction codes: A = award/grant, M = exercise/conversion of derivative, F = shares withheld to pay taxes/exercise price.
Shares received: 12,720 total acquired via RSU/PSU vesting and conversion/exercise.
Shares withheld/sold to cover tax or exercise costs: 4,546 shares; cash proceeds reported = $401,067.
Ownership after transaction: Not disclosed in the provided filing excerpt.
Important footnotes:
- RSUs convert one-for-one to common stock and include dividend equivalents (F1).
- The RSUs granted Feb 4, 2025 vest in three annual installments; the first installment vested on the transaction date (F2).
- PSUs awarded Feb 7, 2023 and March 1, 2023 vested on the transaction date at 82% of target, converting into shares (F3, F4).

Context

These were primarily vesting/settlement actions (awards and exercise/conversion). The withholding of shares to cover taxes/exercise is a routine, non‑market sale mechanism (cashless/net settlement) and does not necessarily indicate a voluntary open‑market sale decision. The filing appears timely (filed within required Form 4 window).

Form 4

Period: 2026-02-03

EVP, Chief Product, Delivery

Transactions

Award
Common Stock
[F3]
2026-02-03+7,931→ 20,147 total
Tax Payment
Common Stock
2026-02-03$87.16/sh−2,556$222,781→ 17,591 total
Award
Common Stock
[F4]
2026-02-03+1,539→ 19,130 total
Tax Payment
Common Stock
2026-02-03$87.16/sh−483$42,098→ 18,647 total
Exercise/Conversion
Common Stock
[F1]
2026-02-04+3,250→ 21,897 total
Tax Payment
Common Stock
2026-02-04$90.37/sh−1,507$136,188→ 20,390 total
Exercise/Conversion
Restricted Stock Units
[F1][F2]
2026-02-04−3,250→ 6,506 total
→ Common Stock (3,250 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]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.
[F3]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.
[F4]The acquisition of Otis common stock represents the vesting of performance share units (PSUs) previously awarded on March 1, 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

1 file