| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | OTIS | Common Stock | Award | +136K | +108.34% | 262K | Feb 6, 2024 | Direct | F4 | ||
| transaction | OTIS | Common Stock | Tax liability | -$2.98M | -32.4K | -12.37% | $91.94 | 230K | Feb 6, 2024 | Direct | |
| transaction | OTIS | Common Stock | Sale | -$3.43M | -37.3K | -16.25% | $91.83 | 192K | Feb 7, 2024 | Direct | F5 |
| transaction | OTIS | Common Stock | Options Exercise | +11.4K | +5.94% | 204K | Feb 7, 2024 | Direct | F1 | ||
| transaction | OTIS | Common Stock | Tax liability | -$475K | -5.17K | -2.54% | $91.77 | 199K | Feb 7, 2024 | Direct | |
| holding | OTIS | Common Stock | 22.5K | Feb 6, 2024 | by 2023 GRAT |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | OTIS | Restricted Stock Units | Award | $0 | +34.2K | $0.00 | 34.2K | Feb 6, 2024 | Common Stock | 34.2K | Direct | F1, F2 | ||
| transaction | OTIS | Stock Appreciation Rights | Award | $0 | +129K | $0.00 | 129K | Feb 6, 2024 | Common Stock | 129K | $91.94 | Direct | F2 | |
| transaction | OTIS | Restricted Stock Units | Options Exercise | $0 | -11.4K | -33.33% | $0.00 | 22.9K | Feb 7, 2024 | Common Stock | 11.4K | Direct | F1, F3 |
Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.
Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
| Id | Content |
|---|---|
| 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. |
| 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. |
| 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. |
| 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. |
A sale was effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on July 28, 2023.