[Form 3] Otis Worldwide Corporation Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Kimberly Shannon Gosk, EVP & CPO of Otis Worldwide (OTIS), reported direct ownership of 5,688 common shares and disclosed equity awards representing 21,055 underlying shares: 2,245 restricted stock units (RSUs) that convert one-for-one into common stock and 18,810 stock appreciation rights (SARs) with specified exercise prices. The RSUs vest in scheduled annual installments and several SAR tranches are fully or partially exercisable, as detailed in the filing.

Positive

• Direct equity ownership plus awards: The reporting officer holds 5,688 common shares and equity awards totaling 21,055 underlying shares, aligning pay with shareholder outcomes.
• Transparent disclosure: The filing specifies RSU conversion, dividend equivalent treatment, SAR tranche sizes, and exercise prices, improving investor visibility.

Negative

• Potential dilution: If RSUs vest and SARs are exercised, they will increase the number of outstanding shares and could be dilutive to existing shareholders.

Insights

Corporate Governance Expert

TL;DR: Routine officer disclosure that increases transparency; holdings align executive pay with shareholder outcomes.

The Form 3 documents an executive-level beneficial ownership position and the structure of equity incentives. The filing provides clear counts for direct shares, RSUs and SARs and notes vesting/exercise schedules, which aids governance oversight. Impact on existing shareholders appears informational rather than material given no indication of extraordinary concentration or unusual compensation structures in the filing.

Compensation Analyst

TL;DR: Mix of RSUs and SARs with staggered vesting/exercise reflects standard long-term incentive design.

The awards combine one-for-one RSUs that include dividend equivalents and multiple SAR tranches with explicit exercise prices and staggered exercisability. Several SAR grants are fully exercisable while others vest in installments, demonstrating a multi-year retention and performance alignment approach. The filing lists exercise prices per tranche, allowing assessment of potential intrinsic value when compared to market prices (not provided here).

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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

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1. Name and Address of Reporting Person^*

Gosk Kimberly Shannon

(Last) (First) (Middle)

1 CARRIER PLACE

(Street)

FARMINGTON CT 06032

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/01/2025

3. Issuer Name and Ticker or Trading Symbol
Otis Worldwide Corp [ OTIS ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & CPO

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	5,688	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(2)	(1)	Common Stock	1,331	$0	D
Restricted Stock Units	(3)	(1)	Common Stock	595	$0	D
Restricted Stock Units	(4)	(1)	Common Stock	319	$0	D
Stock Appreciation Rights	(5)	02/05/2034	Common Stock	3,287	$91.94	D
Stock Appreciation Rights	(6)	02/06/2033	Common Stock	3,094	$83.63	D
Stock Appreciation Rights	(7)	02/02/2032	Common Stock	2,649	$81.85	D
Stock Appreciation Rights	(8)	02/04/2031	Common Stock	3,734	$63.93	D
Stock Appreciation Rights	(9)	02/03/2030	Common Stock	6,046	$80.97	D

Explanation of Responses:

1. Restricted Stock Units (RSUs) convert into common stock on a one-for-one basis and include the right to receive dividend equivalents that are credited as additional RSUs.

2. These RSUs are scheduled to vest in three substantially equal annual installments beginning on the first anniversary of the date of grant. The date of grant was February 4, 2025.

3. These RSUs are scheduled to vest in two substantially equal annual installments on the second and third anniversaries of the date of grant. The date of grant was February 6, 2024.

4. These RSUs are scheduled to vest on the third anniversary of the date of grant. The date of grant was February 7, 2023.

5. These Stock Appreciation Rights (SARs) were granted on February 6, 2024. 1,095 SARs became exercisable on the first anniversary of the date of grant and the remaining 2,192 SARs are scheduled to become exercisable in two substantially equal annual installments on the second and third anniversaries of the date of grant.

6. These SARs were granted on February 7, 2023. 2,062 SARs became exercisable on the first and second anniversaries of the date of grant. The remaining 1,032 SARs are scheduled to become exercisable on the third anniversary of the date of grant.

7. These SARs were granted on February 3, 2022 and became fully exercisable on the third anniversary of the date of grant.

8. These SARs were granted on February 5, 2021 and became fully exercisable on the third anniversary of the date of grant.

9. These SARs were granted on February 4, 2020 and became fully exercisable on the third anniversary of the date of grant.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney

	Toby Smith, Attorney-in-Fact	08/08/2025
	** 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 5 (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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many shares does Kimberly Shannon Gosk directly own in OTIS?

The Form 3 reports 5,688 common shares owned directly by Kimberly Shannon Gosk.

What equity awards are reported for the OTIS EVP & CPO?

The filing discloses 2,245 RSUs (one-for-one conversion) and SARs underlying 18,810 common shares, for a total of 21,055 underlying awards.

Do the RSUs include dividend equivalents and how do they convert?

Yes. The RSUs convert on a one-for-one basis into common stock and include the right to receive dividend equivalents that are credited as additional RSUs.

Are any of the SARs exercisable according to the Form 3?

Yes. The filing states that some SAR tranches are fully exercisable and others are partially exercisable with remaining portions vesting in scheduled annual installments; exercisable and remaining amounts are listed per grant.

Could these awards result in additional shares outstanding for OTIS (OTIS)?

Yes. If RSUs vest and/or SARs are exercised, they will convert into or result in issuance of common shares, increasing shares outstanding.