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  4. [Form 4] Otis Worldwide Corp Insider Trading Activity

Otis Worldwide (OTIS) executive exercises RSUs and settles tax in shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Otis Worldwide Corp reported that President, Otis Americas, Joseph Jay Armas exercised restricted stock units into common stock and had shares withheld to cover taxes. On the transaction date, 1,680 restricted stock units converted into common shares, and 421 common shares were used to satisfy tax obligations.

Following these transactions, Armas directly held 2,990.377 common shares. The restricted stock units were granted on June 2, 2025 and vest in three substantially equal annual installments, with the first installment vesting on the transaction date.

Positive

  • None.

Negative

  • None.
Insider Armas Joseph Jay
Role President, Otis Americas
Type Security Shares Price Value
Exercise Restricted Stock Units 1,680 $0.00 --
Exercise Common Stock 1,680 $0.00 --
Tax Withholding Common Stock 421 $70.33 $30K
Holdings After Transaction: Restricted Stock Units — 3,362 shares (Direct, null); Common Stock — 3,411.377 shares (Direct, null)
Footnotes (1)
  1. 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. On June 2, 2025, 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.
RSUs exercised 1,680 units Restricted stock units converted into common stock on transaction date
Shares withheld for taxes 421 shares Common shares used to satisfy tax obligations
Shares held after transaction 2,990.377 shares Directly held Otis Worldwide common stock after Form 4 events
RSU grant date June 2, 2025 Grant of RSUs vesting in three annual installments
RSU vesting schedule Three equal annual installments Beginning on first anniversary of June 2, 2025 grant date
Restricted stock units (RSUs) financial
"Restricted stock units (RSUs) convert into common stock on a one-for-one basis."
Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.
dividend equivalents financial
"RSUs include the right to receive dividend equivalents that are credited as additional RSUs."
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.
derivative exercise/conversion financial
"transaction_action": "derivative exercise/conversion""
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Armas Joseph Jay
(Last)(First)(Middle)
1 CARRIER PLACE
(Street)
FARMINGTON CONNECTICUT 06032
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Otis Worldwide Corp [ OTIS ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
President, Otis Americas
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/02/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock06/02/2026M1,680A(1)3,411.377D
Common Stock06/02/2026F421D$70.332,990.377D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units(1)06/02/2026M1,680 (2) (2)Common Stock1,680$03,362D
Explanation of Responses:
1. 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.
2. On June 2, 2025, 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.
Susan Grady, Attorney-in-Fact06/03/2026
** Signature of Reporting PersonDate
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.
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Otis Worldwide (OTIS) report for Joseph Jay Armas?

Otis Worldwide reported that Joseph Jay Armas exercised 1,680 restricted stock units into common stock and had 421 common shares withheld to cover taxes, leaving him with 2,990.377 directly held common shares after the transactions.

Was the Otis Worldwide (OTIS) insider transaction an open-market buy or sell?

The filing shows no open-market buy or sell. Instead, Joseph Jay Armas exercised restricted stock units and some of the resulting common shares were withheld as a tax-withholding disposition, a common administrative step tied to equity compensation vesting.

How many Otis Worldwide (OTIS) shares does Joseph Jay Armas hold after this Form 4?

After the reported transactions, Joseph Jay Armas directly holds 2,990.377 shares of Otis Worldwide common stock. This balance reflects the exercise of 1,680 restricted stock units and the withholding of 421 shares to satisfy associated tax obligations.

What are the terms of the restricted stock units in the Otis Worldwide (OTIS) Form 4?

The restricted stock units were granted on June 2, 2025 and vest in three substantially equal annual installments, beginning on the first anniversary of the grant date. The first installment vested on the transaction date and converts into common stock on a one-for-one basis.

How do the Otis Worldwide (OTIS) RSUs convert into common stock?

The restricted stock units convert into Otis Worldwide common stock on a one-for-one basis. They also include the right to receive dividend equivalents, which are credited as additional restricted stock units and then convert into common shares upon vesting.