0001062993-24-002588.txt : 20240208
0001062993-24-002588.hdr.sgml : 20240208
20240208171546
ACCESSION NUMBER: 0001062993-24-002588
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240206
FILED AS OF DATE: 20240208
DATE AS OF CHANGE: 20240208
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Ryan Michael Patrick
CENTRAL INDEX KEY: 0001805849
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-39221
FILM NUMBER: 24610160
MAIL ADDRESS:
STREET 1: 10 FARM SPRINGS ROAD
CITY: FARMINGTON
STATE: CT
ZIP: 06032
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Otis Worldwide Corp
CENTRAL INDEX KEY: 0001781335
STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC & OTHER ELECTRICAL EQUIPMENT (NO COMPUTER EQUIP) [3600]
ORGANIZATION NAME: 04 Manufacturing
IRS NUMBER: 833789412
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: ONE CARRIER PLACE
CITY: FARMINGTON
STATE: CT
ZIP: 06032
BUSINESS PHONE: 8606743000
MAIL ADDRESS:
STREET 1: ONE CARRIER PLACE
CITY: FARMINGTON
STATE: CT
ZIP: 06032
4
1
form4.xml
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
X0508
4
2024-02-06
0001781335
Otis Worldwide Corp
OTIS
0001805849
Ryan Michael Patrick
1 CARRIER PLACE
FARMINGTON
CT
06032
0
1
0
0
SVP, CAO & Controller
0
Common Stock
2024-02-06
4
A
0
5210
A
5719
D
Common Stock
2024-02-06
4
F
0
1688
91.94
D
4031
D
Common Stock
2024-02-07
4
M
0
361
A
4392
D
Common Stock
2024-02-07
4
F
0
114
91.77
D
4278
D
Restricted Stock Units
2024-02-06
4
A
0
998
0
A
Common Stock
998
998
D
Stock Appreciation Rights
91.94
2024-02-06
4
A
0
3772
0
A
2034-02-05
Common Stock
3772
3772
D
Restricted Stock Units
2024-02-07
4
M
0
361
0
D
Common Stock
361
730
D
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.
RSUs and stock appreciation rights vest in three substantially equal annual installments beginning on the first anniversary of the Transaction Date.
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.
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.
Joshua Mullin, Attorney-in-Fact
2024-02-08