Marks Judith Fran 4

What Happened Judith Fran Marks, Chair, CEO and President of Otis Worldwide, had restricted stock units (RSUs) convert into 23,615 common shares on Feb 6–7, 2026. To cover tax withholding on the vesting, 10,624 of those shares were surrendered (disposed) at $89.85 per share, producing combined proceeds of approximately $954,566. Net from this vesting event, Marks received 12,991 shares into her holdings. The disposals were tax withholdings (routine), not open-market sales.

Key Details

• Transaction dates: Feb 6, 2026 and Feb 7, 2026.
• Shares issued (RSU conversion): 11,787 (Feb 6) + 11,828 (Feb 7) = 23,615 shares.
• Shares withheld to pay taxes: 5,306 (Feb 6) + 5,318 (Feb 7) = 10,624 shares at $89.85 each; proceeds ≈ $476,744 and $477,822 respectively; total ≈ $954,566.
• Net shares retained from this vesting: 23,615 − 10,624 = 12,991 shares.
• Filing date: Feb 10, 2026 (transactions reported for Feb 6–7). The Form 4 does not indicate an alternative explanation for timeliness.
• Footnotes: RSUs convert 1-for-1 into common stock and include dividend equivalents (F1). The vested units came from grants made Feb 6, 2024 (second installment vested) and Feb 7, 2023 (final installment vested) (F2, F3).
• Transaction codes: M = conversion/exercise of derivative (RSU conversion here); F = payment of tax liability via share withholding.

Context This was a routine vesting and tax-withholding transaction for previously granted RSUs, not an open-market sale or purchase; such withholdings are administrative and don’t necessarily indicate a change in insider sentiment. For RSU conversions, the typical pattern is shares are issued and a portion is surrendered to satisfy taxes (a cashless or share-surrender withholding).