Zheng Peiming 4

What Happened
Zheng Peiming, EVP & Chief Product, Delivery at Otis Worldwide (OTIS), had restricted stock units (RSUs) vest and convert into 3,689 shares on Feb 6–7, 2026. To cover tax withholding, 974 shares were surrendered on Feb 6 and 650 shares on Feb 7 at $89.85 per share, generating cash proceeds of $87,514 and $58,402 respectively (total ≈ $145,916). The filings record the RSU-to-share conversions (derivative conversion code M) and the tax-withholding share dispositions (code F).

Key Details

• Transaction dates: Feb 6, 2026 and Feb 7, 2026.
• RSUs converted to common stock: 2,213 (Feb 6) + 1,476 (Feb 7) = 3,689 shares acquired (no cash paid on conversion).
• Shares withheld for taxes (disposition): 974 (Feb 6) + 650 (Feb 7) = 1,624 shares at $89.85 each; total proceeds ≈ $145,916.
• Transaction codes: M = exercise/conversion of derivative (RSU vesting); F = payment of exercise price or tax liability (share withholding).
• Footnotes: F1 notes RSUs convert 1-for-1 and include dividend equivalents. F2 and F3 describe the original grant dates and vesting schedules (grants in 2023 and 2024 with installment vesting; these transactions represent scheduled vesting installments).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Filing timeliness: Form filed Feb 10, 2026; based on the Feb 6–7 transaction dates, the Form 4 filing appears timely (within the usual 2 business-day window).

Context
This was a scheduled RSU vesting event, not an open-market purchase or discretionary sale. The share disposition here is a routine "sell-to-cover" (withholding) to satisfy tax obligations, which is common for equity awards and does not necessarily indicate the insider's view on the stock. For investors, outright purchases by insiders can be more informative than routine vesting/withholding transactions.