Form 4 for OTIS Otis Worldwide
Accepted 2024-02-08 00:00:00 ET · period of report 2024-02-06 · accession 0001062993-24-002589 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2024-02-08 | 2024-02-07 | OTIS | Marks Judith Fran | COB, CEO, Pres, Dir | S - Sale+OE | $91.83 | -37.3K | 192.3K | -16% | -$3.43M |
| DM | 2024-02-08 | 2024-02-06+ | OTIS | Marks Judith Fran | COB, CEO, Pres, Dir | F - Tax | $91.92 | -37.6K | 198.6K | -16% | -$3.46M |
| D | 2024-02-08 | 2024-02-07 | OTIS | Marks Judith Fran | COB, CEO, Pres, Dir | M - OptEx | — | +11.4K | 203.8K | +6% | — |
| D | 2024-02-08 | 2024-02-06 | OTIS | Marks Judith Fran | COB, CEO, Pres, Dir | A - Grant | — | +136.3K | 262.1K | +108% | — |
| DM | 2024-02-08 | 2024-02-06 | OTIS | Marks Judith Fran | COB, CEO, Pres, Dir | A - Grant | $0.00 | +163.5K | 129.3K | New | $0 |
| D | 2024-02-08 | 2024-02-07 | OTIS | Marks Judith Fran | COB, CEO, Pres, Dir | M - OptEx | $0.00 | -11.4K | 22.9K | -33% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2024-02-07 | S | D | 37,312 | $91.83 | 192,319 | D | — | — | (F5) This transaction was effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on July 28, 2023. The shares sold in multiple trades at prices ranging from $91.500 to $92.425. The price reported above reflects the weighted average sale price. The number of shares sold represents the shares received by the reporting person upon the vesting of the PSUs previously awarded on February 5, 2021 after giving effect to the tax withholdings and the 50% PSU deferral election. The plan terminated on the Transaction Date. |
| 2 | Common | Common Stock | 2024-02-06 | F | D | 32,429 | $91.94 | 229,631 | D | — | — | |
| 3 | Common | Common Stock | 2024-02-07 | F | D | 5,171 | $91.77 | 198,581 | D | — | — | |
| 4 | Common | Common Stock | 2024-02-07 | M | A | 11,433 | — | 203,752 | D | — | — | (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. |
| 5 | Common | Common Stock | 2024-02-06 | A | A | 136,278 | — | 262,060 | D | — | — | (F4) The acquisition of Otis common stock represents the vesting of performance share units (PSUs) previously awarded on February 5, 2021. Each PSU has a value equal to one share of Otis common stock. These PSUs vested on the Transaction Date upon the achievement of the 3-year cycle preestablished performance targets. The performance criteria were certified to be achieved at the 200% level. The reporting person previously elected to defer 50% of this award under the LTIP PSU Deferral Plan upon vesting. Any vested shares that are deferred under this plan are credited as DSUs and will be settled in stock. The DSUs will be paid out in an equal number of shares of Otis common stock in accordance with the reporting person's previous elections. DSUs accrue dividend equivalents. |
| 6 | Derivative | Restricted Stock Units | 2024-02-06 | A | A | 34,212 | $0.00 | 34,212 | D | — · — to — | 34,212 Common Stock | (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) RSUs and stock appreciation rights vest in three substantially equal annual installments beginning on the first anniversary of the Transaction Date. |
| 7 | Derivative | Stock Appreciation Rights | 2024-02-06 | A | A | 129,311 | $0.00 | 129,311 | D | $91.94 · — to 2034-02-05 | 129,311 Common Stock | (F2) RSUs and stock appreciation rights vest in three substantially equal annual installments beginning on the first anniversary of the Transaction Date. |
| 8 | Derivative | Restricted Stock Units | 2024-02-07 | M | D | 11,433 | $0.00 | 22,873 | D | — · — to — | 11,433 Common Stock | (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. (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 first installment vested on the Transaction Date. |