New insider Mendez Echevarria Maria Cristina claimed ownership of 1,377 shares (SEC Form 3)
$OTIS
Consumer Electronics/Appliances
Technology
| 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*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 08/23/2024 |
3. Issuer Name and Ticker or Trading Symbol
Otis Worldwide Corp [ OTIS ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Beneficially Owned | |||
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| 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 | 1,377 | D | |
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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| 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 | ||||
| RSUs(1) | (2) | (1) | Common Stock | 890 | $0 | D | |
| RSUs(1) | (3) | (1) | Common Stock | 4,323 | $0 | D | |
| RSUs(1) | (4) | (1) | Common Stock | 652 | $0 | D | |
| RSUs(1) | (5) | (1) | Common Stock | 831 | $0 | D | |
| RSUs(1) | (6) | (1) | Common Stock | 290 | $0 | D | |
| SARs | (7) | 02/05/2034 | Common Stock | 3,341 | $91.94 | D | |
| SARs | (8) | 02/06/2033 | Common Stock | 3,251 | $83.63 | D | |
| SARs | (9) | 02/02/2032 | Common Stock | 3,311 | $81.85 | 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 6, 2024. |
| 3. 25% of these RSUs are scheduled to vest on October 2, 2025 and the remaining 75% are scheduled to vest on October 2, 2027. |
| 4. 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 7, 2023. |
| 5. These RSUs are scheduled to vest on the third anniversary of the date of grant. The date of grant was March 1, 2022. |
| 6. These RSUs are scheduled to vest on the third anniversary of the date of grant. The date of grant was February 3, 2022. |
| 7. These Stock Appreciation Rights (SARs) were granted on February 6, 2024. They are scheduled to become exercisable in three substantially equal annual installments beginning on the first anniversary of the date of grant. |
| 8. These SARs were granted on February 7, 2023. 1,083 SARs became exercisable on the first anniversary of the date of grant and the remainder are scheduled to become exercisable in two substantially equal annual installments on the second and third anniversaries of the date of grant. |
| 9. These SARs were granted on February 3, 2022. 1,104 SARs are scheduled to become exercisable on the third anniversary of the date of grant. A total of 2,207 SARs became exercisable on the first and second anniversaries of the date of grant. |
| Joshua Mullin, Attorney-in-fact | 08/27/2024 | |
| ** 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. | ||