Hannan Kathy Hopinkah 4

What Happened

• Kathy Hopinkah Hannan, a non-employee director of Otis Worldwide Corp (OTIS), was granted 2,758.044 deferred stock units (DSUs) on May 27, 2026. The DSUs were recorded at $71.79 per share for a total grant value of $198,000. The Form 4 lists this as an award/grant (transaction code A) and classifies the interest as a derivative.

Key Details

• Transaction date and price: 2026-05-27 at $71.79 per share (total $198,000).
• Transaction type: Award/grant of DSUs (derivative), not an open-market purchase or sale.
• Shares owned after transaction: Not specified in this filing.
• Footnote: The DSUs were issued under the Board of Directors Deferred Stock Unit Plan. Under the plan, DSUs convert into an equal number of common shares upon the director’s retirement or termination; the director may elect lump-sum or installment distribution. DSUs accrue dividend equivalents (see Footnote F1).
• Filing: Report filed 2026-05-29; appears filed timely (Form 4 filed within two business days of the transaction).

Context

• DSU grants are a form of non-cash director compensation and are typically routine. They do not represent immediate market buying or selling—shares are delivered later when DSUs convert upon exit from service. DSUs accrue dividend equivalents, so the award also reflects ongoing economic interest rather than an immediate change in tradable stock.