Ryan Michael Patrick 4
4 · Otis Worldwide Corp · Filed Feb 10, 2026
Research Summary
AI-generated summary of this filing
Otis (OTIS) SVP Ryan Patrick Sells 1,182 Shares
What Happened
Ryan Michael Patrick, Senior VP, CAO & Controller of Otis Worldwide (OTIS), had RSUs convert to common stock on Feb 6–7, 2026 and then sold shares. He received 693 shares upon conversion (349 on Feb 6 and 344 on Feb 7). To cover tax withholding on the vesting, 202 shares were surrendered (102 and 100 shares) at $89.85 per share (total withholding value reported $18,150). Separately, on Feb 10 he sold 1,182 shares in an open-market transaction at $90.06 for total proceeds of $106,445. The conversion lines are reported as derivative transactions with $0 cash proceeds (they reflect RSU-to-stock conversion).
Key Details
- Transaction dates/prices:
- Feb 6, 2026: 349 RSUs converted to 349 shares (derivative conversion).
- Feb 6, 2026: 102 shares withheld to pay taxes at $89.85 (reported value $9,165).
- Feb 7, 2026: 344 RSUs converted to 344 shares (derivative conversion).
- Feb 7, 2026: 100 shares withheld to pay taxes at $89.85 (reported value $8,985).
- Feb 10, 2026: 1,182 shares sold open market at $90.06 for $106,445.
- Net effect visible in filing: 693 shares delivered from RSU vesting; 202 shares withheld for taxes; 1,182 shares sold on-market.
- Shares owned after transaction: not specified in the provided filing excerpt.
- Footnotes:
- RSUs convert one-for-one into common stock and include dividend equivalents credited as additional RSUs (F1).
- The Feb 6 conversion was the second installment from a Feb 6, 2024 RSU grant that vests in three annual installments (F2).
- The Feb 7 conversion was the final installment from a Feb 7, 2023 RSU grant that vests in three annual installments (F3).
- Filing: report filed Feb 10, 2026 covering Feb 6–7 transactions (filing date shown in accession).
Context
These filings reflect routine RSU vesting and associated tax-withholding and sale activity rather than a cash purchase. The sequence—RSUs converting to shares, shares withheld to cover taxes, and an open-market sale—is a common cashless outcome of equity award vesting. This activity is informational about insider selling after vesting; it does not, by itself, indicate the insider’s broader view on the company.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-02-06+349→ 4,544 total - Tax Payment
Common Stock
2026-02-06$89.85/sh−102$9,165→ 4,442 total - Exercise/Conversion
Common Stock
[F1]2026-02-07+344→ 4,786 total - Tax Payment
Common Stock
2026-02-07$89.85/sh−100$8,985→ 4,686 total - Sale
Common Stock
2026-02-10$90.06/sh−1,182$106,445→ 3,504 total - Exercise/Conversion
Restricted Stock Units
[F1][F2]2026-02-06−349→ 318 total→ Common Stock (349 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F3]2026-02-07−344→ 0 total→ Common Stock (344 underlying)
Footnotes (3)
- [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 6, 2024, the reporting person was granted RSUs vesting in three substantially equal annual installments beginning on the first anniversary of the grant date. The second installment vested on the Transaction Date.
- [F3]On February 7, 2023, the reporting person was granted RSUs vesting in three substantially equal annual installments beginning on the first anniversary of the grant date. The last installment vested on the Transaction Date.