Otis (NYSE: OTIS) investors reject political spending report
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Otis Worldwide Corporation reported the results of its 2026 Annual Meeting of Shareholders held on May 27, 2026. As of March 30, 2026, 385,710,610 common shares were outstanding, and a quorum of 345,588,993 shares was represented.
Shareholders elected ten directors to serve until the 2027 annual meeting or until their successors are elected and qualified. They also approved, on an advisory basis, the compensation of Otis’ named executive officers and ratified the appointment of PricewaterhouseCoopers LLP as independent auditor for 2026.
A shareholder proposal requesting reporting on political contributions and expenditures did not pass, receiving fewer votes in favor than against, with additional broker non-votes recorded.
Positive
- None.
Negative
- None.
8-K Event Classification
Item 5.07 — Submission of Matters to a Vote of Security Holders
1 item
Item 5.07
Submission of Matters to a Vote of Security Holders
Governance
Results of a shareholder vote on proposals at an annual or special meeting.
Key Figures
Shares outstanding: 385,710,610 shares
Quorum shares represented: 345,588,993 shares
Say-on-pay votes For: 300,604,166 votes
+4 more
7 metrics
Shares outstanding
385,710,610 shares
Common stock issued and outstanding as of March 30, 2026
Quorum shares represented
345,588,993 shares
Shares represented at the 2026 Annual Meeting of Shareholders
Say-on-pay votes For
300,604,166 votes
Advisory approval of named executive officer compensation
Say-on-pay votes Against
19,385,429 votes
Advisory vote on named executive officer compensation
Auditor ratification votes For
344,841,469 votes
Appointment of PricewaterhouseCoopers LLP as 2026 independent auditor
Political report votes For
145,402,369 votes
Proposal on reporting political contributions and expenditures
Political report votes Against
173,399,850 votes
Proposal on reporting political contributions and expenditures
Key Terms
quorum, broker non-votes, named executive officers, independent registered public accountants, +1 more
5 terms
quorum financial
"A quorum of 345,588,993 shares of common stock was represented at the meeting."
A quorum is the minimum number of members needed to officially hold a meeting or make decisions. It ensures that decisions are made with enough participation to represent the group’s interests, much like a majority must be present for a vote to be valid. For investors, understanding quorum is important because it affects when and how important company or organization decisions can be legally made.
broker non-votes financial
"The voting results for each nominee are as follows ... Broker Non-Votes"
Broker non-votes occur when a brokerage firm is unable to vote on a shareholder’s behalf during a company election or decision because the shareholder has not given specific voting instructions, and the broker is not allowed or chooses not to vote on certain matters. They are important because they can affect the outcome of votes, especially when the results are close, by effectively reducing the total number of votes cast.
named executive officers financial
"A proposal that shareholders approve, on an advisory basis, the compensation of Otis’ named executive officers."
Named executive officers are the senior company leaders whose names, roles and compensation are singled out in required regulatory filings; this typically includes the chief executive, chief financial officer and the next highest‑paid senior officers. Investors treat this list like a team roster — it shows who makes key decisions, how they are paid and whether incentives align with shareholder interests, so changes or pay patterns can signal governance quality, risk or strategic shifts.
independent registered public accountants financial
"a firm of independent registered public accountants, to serve as Otis’ Independent Auditor for 2026"
Independent registered public accountants are external auditing firms licensed to examine a public company’s financial records and issue an objective opinion on whether the financial statements are accurate and follow accounting rules. They matter to investors because their independent check is like a neutral referee confirming the score in a game — it reduces the risk of errors or misleading information and helps investors trust the financial reports used to make decisions.
Emerging growth company regulatory
"Emerging growth company Securities registered pursuant to Section 12(b) of the Act"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________________________
FORM 8-K
____________________________________
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 29, 2026 (May 27, 2026 )
____________________________________
(Exact name of registrant as specified in its charter)
____________________________________
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code
(860 ) 674-3000
N/A
(Former name or former address, if changed since last report)
____________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Section 5—Corporate Governance and Management
Item 5.07. Submission of Matters to a Vote of Security Holders.
Otis Worldwide Corporation (“Otis” or "Company") held its 2026 Annual Meeting of Shareholders on May 27, 2026. As of March 30, 2026, the record date for the meeting, 385,710,610 shares of Otis common stock were issued and outstanding. A quorum of 345,588,993 shares of common stock was represented at the meeting.
Shareholders voted on the following matters, which are described in more detail in the Company’s Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on April 17, 2026, and cast their votes as described below:
1) The following individuals were elected to serve as directors for a term expiring at the 2027 Annual Meeting of Shareholders or upon the election and qualification of their successors. The voting results for each nominee are as follows:
| Nominee | Votes For | Votes Against | Abstentions | Broker Non-Votes | ||||||||||
| Thomas A. Bartlett | 311,046,915 | 9,810,622 | 334,798 | 24,396,658 | ||||||||||
| Jeffrey H. Black | 318,253,873 | 2,603,882 | 334,580 | 24,396,658 | ||||||||||
| Jill C. Brannon | 319,869,225 | 766,259 | 556,851 | 24,396,658 | ||||||||||
| Nelda J. Connors | 310,438,542 | 10,423,191 | 330,602 | 24,396,658 | ||||||||||
| Kathy Hopinkah Hannan | 319,143,881 | 1,710,655 | 337,799 | 24,396,658 | ||||||||||
| Christopher J. Kearney | 320,204,663 | 653,030 | 334,642 | 24,396,658 | ||||||||||
| Judith F. Marks | 306,737,433 | 12,890,163 | 1,564,739 | 24,396,658 | ||||||||||
| Margaret M. V. Preston | 318,085,969 | 2,775,235 | 331,131 | 24,396,658 | ||||||||||
| Shelley Stewart, Jr. | 311,526,935 | 9,091,669 | 573,731 | 24,396,658 | ||||||||||
| John H. Walker | 311,800,135 | 9,042,045 | 350,155 | 24,396,658 | ||||||||||
2) A proposal that shareholders approve, on an advisory basis, the compensation of Otis’ named executive officers. The proposal was approved and the voting results are as follows:
| Votes For | Votes Against | Abstentions | Broker Non-Votes | ||||||||
| 300,604,166 | 19,385,429 | 1,202,740 | 24,396,658 | ||||||||
3) A proposal to appoint PricewaterhouseCoopers LLP, a firm of independent registered public accountants, to serve as Otis’ Independent Auditor for 2026 until the next annual meeting in 2027. The proposal was approved and the voting results are as follows:
| Votes For | Votes Against | Abstentions | ||||||
| 344,841,469 | 450,913 | 296,611 | ||||||
4) A proposal regarding reporting on political contributions and expenditures. The proposal was not approved and the voting results are as follows:
| Votes For | Votes Against | Abstentions | Broker Non-Votes | ||||||||
| 145,402,369 | 173,399,850 | 2,390,116 | 24,396,658 | ||||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| OTIS WORLDWIDE CORPORATION | ||||||||
| (Registrant) | ||||||||
| Date: May 29, 2026 | By: | /s/ Susan Grady | ||||||
| Susan Grady | ||||||||
| Senior Vice President, Corporate Secretary | ||||||||
FAQ
What happened to the political contributions reporting proposal at Otis (OTIS)?
The shareholder proposal requesting reporting on political contributions and expenditures was not approved. It received 145,402,369 votes For, 173,399,850 votes Against, 2,390,116 Abstentions, and 24,396,658 broker non-votes, resulting in its failure to gain majority support.