Otis Worldwide (NYSE: OTIS) CFO covers taxes with RSU shares
Rhea-AI Filing Summary
Otis Worldwide Corp (OTIS) reported that EVP & CFO Maria Cristina Mendez Echevarria exercised 2,137 Restricted Stock Units into an equal number of shares of common stock on August 23, 2026, from an RSU grant originally awarded on August 23, 2024.
Of the shares received, 838 shares of common stock were delivered or withheld at $71.49 per share for payment of exercise price or tax liability, with the remainder retained as directly owned common stock. Following the RSU exercise, she continued to hold 2,145 RSUs directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 1,299 shares
Net Buy
3 txns
Insider
Mendez Echevarria Maria Cristina
Role
EVP & CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units F1, F2 | 2,137 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 2,137 | -- | -- |
| Exercise Price or Tax Liability | Common Stock | 838 | $71.49 | $60K |
Holdings After Transaction:
Restricted Stock Units — 2,145 shares (Direct);
Common Stock — 10,556 shares (Direct)
Footnotes (2)
- 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. On August 23, 2024, the reporting person was granted RSUs vesting in three substantially equal annual installments beginning on the first anniversary of the grant date. The second installment vested on the Transaction Date.
Key Figures
RSUs exercised: 2,137 Restricted Stock Units
Common shares received from RSUs: 2,137 shares of Common Stock
Shares delivered or withheld: 838 shares of Common Stock
+3 more
6 metrics
RSUs exercised
2,137 Restricted Stock Units
Converted into common stock on August 23, 2026
Common shares received from RSUs
2,137 shares of Common Stock
Underlying shares from RSU conversion on August 23, 2026
Shares delivered or withheld
838 shares of Common Stock
Used for payment of exercise price or tax liability
Per-share value for tax/exercise
$71.49 per share
Applied to 838 shares delivered or withheld
RSUs held after transaction
2,145 Restricted Stock Units
Directly owned RSUs following the reported exercise
RSU grant date
August 23, 2024
RSUs vest in three substantially equal annual installments
Key Terms
Restricted Stock Units, dividend equivalents, substantially equal annual installments, Payment of exercise price or tax liability
4 terms
Restricted Stock Units financial
"Restricted stock units (RSUs) convert into common stock on a one-for-one basis"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
dividend equivalents financial
"RSUs include the right to receive dividend equivalents that are credited"
Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.
substantially equal annual installments financial
"RSUs vesting in three substantially equal annual installments"
Payment of exercise price or tax liability financial
"Payment of exercise price or tax liability by delivering or withholding securities"
FAQ
What insider transaction did OTIS EVP & CFO Maria Cristina Mendez Echevarria report?
She exercised 2,137 Restricted Stock Units into common stock of Otis Worldwide Corp on August 23, 2026, and a portion of the resulting shares was delivered or withheld to cover exercise price or tax liability.
How many OTIS RSUs vested and converted into common stock in this Form 4?
A total of 2,137 Restricted Stock Units vested and converted into 2,137 shares of Otis Worldwide Corp common stock on the transaction date, consistent with one installment of a prior RSU grant.
What RSU holdings does the OTIS EVP & CFO report after this transaction?
After the reported RSU exercise, Maria Cristina Mendez Echevarria reported holding 2,145 Restricted Stock Units directly, which remain outstanding and are separate from the common shares acquired.
What is the structure of the OTIS RSU grant referenced in this filing?
The RSUs were granted on August 23, 2024 and vest in three substantially equal annual installments beginning on the first anniversary of the grant date, with the second installment vesting on the transaction date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
