Carrier exec granted 97,290 stock rights

Carrier Global’s President, CSA, Gaurang Pandya received new equity awards.

Rhea-AI Filing Summary

Carrier Global’s President, CSA, Gaurang Pandya received new equity awards. On January 28, 2026, he was granted a stock appreciation right covering 97,290 shares of common stock with a $57.91 exercise price, becoming exercisable on January 28, 2029 and expiring on January 27, 2036.

He was also awarded 26,965 Performance Share Units under Carrier’s 2020 Long-Term Incentive Plan. Each PSU represents one share of common stock and vests on the third anniversary of the grant date, subject to continued employment and Carrier meeting pre-set earnings-per-share growth and relative total shareholder return targets.

Insider Trade Summary

Grant/Award: 97,290 shares

Grant/Award 1 txn

Insider Pandya Gaurang

Role President, CSA

Type	Security	Shares	Price	Value
Grant/Award	Stock Appreciation Right	97,290	$0.00	$0.00

Holdings After Transaction: Stock Appreciation Right — 97,290 contracts (Direct)

Footnotes (1)

1. F1. The reporting person was also awarded 26,965 Performance Share Units (PSUs) under the Carrier Global Corporation 2020 Long-Term Incentive Plan. Each PSU represents a contingent right to receive one share of Carrier Global Corporation common stock. The PSUs vest on the third anniversary of the grant date contingent upon (a) the reporting person's continued employment and (b) Carrier's achievement of pre-established performance targets for earnings per share growth and total shareowner return relative to a subset of industrial companies in the S&P 500 index over a three-year time period.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What executive at CARR received equity awards in this Form 4?

Gaurang Pandya, President, CSA, received the equity awards. He is reported as an officer of Carrier Global Corporation and not a director or 10% owner. The filing details new stock appreciation rights and performance share units granted to him on January 28, 2026.

What stock appreciation rights did Carrier Global (CARR) grant?

Carrier granted a stock appreciation right on 97,290 shares. The derivative security has a $57.91 exercise price, becomes exercisable on January 28, 2029, and expires on January 27, 2036, with 97,290 derivative securities beneficially owned following the transaction.

How many Performance Share Units were awarded in this CARR filing?

26,965 Performance Share Units (PSUs) were awarded. Each PSU represents a contingent right to one share of Carrier Global common stock. The PSUs vest on the third anniversary of the grant date, subject to continued employment and Carrier achieving specified earnings-per-share growth and relative total shareholder return performance targets.

What conditions affect vesting of Carrier Global’s 26,965 PSUs?

Vesting depends on employment and performance goals. The PSUs vest on the third anniversary of the grant date only if the reporting person remains employed and Carrier meets pre-established earnings-per-share growth and total shareholder return targets versus selected S&P 500 industrial companies over a three-year period.

Are the equity awards in this CARR Form 4 performance-based?

The Performance Share Units are performance-based; the SAR is not described that way. The 26,965 PSUs vest based on earnings-per-share growth and relative total shareholder return, while the 97,290-share stock appreciation right is described by exercise price and term rather than explicit performance hurdles.

Is the stock appreciation right held directly or indirectly by the CARR officer?

The stock appreciation right is reported as directly owned. The filing shows 97,290 derivative securities beneficially owned directly, with ownership form marked as "D" and no nature of indirect beneficial ownership disclosed for this award.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 01/30/2026 - 05:46 PM EST Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Pandya Gaurang

(Last) (First) (Middle)

13995 PASTEUR BOULEVARD

(Street)

PALM BEACH GARDENS FL 33418

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CARRIER GLOBAL Corp [ CARR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President, CSA

3. Date of Earliest Transaction (Month/Day/Year)
01/28/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Appreciation Right	$57.91	01/28/2026		A		97,290		01/28/2029	01/27/2036	Common Stock	97,290	$0.0000	97,290(1)	D

Explanation of Responses:

1. The reporting person was also awarded 26,965 Performance Share Units (PSUs) under the Carrier Global Corporation 2020 Long-Term Incentive Plan. Each PSU represents a contingent right to receive one share of Carrier Global Corporation common stock. The PSUs vest on the third anniversary of the grant date contingent upon (a) the reporting person's continued employment and (b) Carrier's achievement of pre-established performance targets for earnings per share growth and total shareowner return relative to a subset of industrial companies in the S&P 500 index over a three-year time period.

	/s/ Erin O'Neal as Attorney-in-Fact	01/30/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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