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Otis Worldwide Corp·4

Feb 10, 4:53 PM ET

Ryan Michael Patrick 4

Research Summary

AI-generated summary

Updated

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.