Zheng Peiming 4

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).