Otis Worldwide executive exercises RSUs, tax withheld
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.
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 Trade Summary
1,680 shares exercised/converted
Exercise
3 txns
Insider
Armas Joseph Jay
Role
President, Otis Americas
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,680 | $0.00 | $0.00 |
| Exercise | Common Stock | 1,680 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 421 | $70.33 | $30K |
Holdings After Transaction:
Restricted Stock Units — 3,362 contracts (Direct);
Common Stock — 2,990.377 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 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.
Key Figures
RSUs exercised: 1,680 units
Shares withheld for taxes: 421 shares
Shares held after transaction: 2,990.377 shares
+2 more
5 metrics
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
Key Terms
Restricted stock units (RSUs), dividend equivalents, derivative exercise/conversion, tax-withholding disposition
4 terms
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.
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.
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
