Form 4: Otis Worldwide Corp: EVP & CFO Maria Cristina Mendez Echevarria Reports Stock Transactions
SEC Form 4 Filing
Maria Cristina Mendez Echevarria, EVP & CFO of Otis Worldwide Corp, reports the vesting and subsequent disposal of restricted stock units to cover tax obligations.
Summary
- On February 6, 2025, Maria Cristina Mendez Echevarria, EVP & CFO of Otis Worldwide Corp, reported the vesting of 295 restricted stock units (RSUs) which converted into common stock.
- Following the vesting, 116 shares were disposed of at a price of $96.05 to cover tax obligations.
- The reporting person now directly owns 2,588 shares of common stock.
- On February 7, 2025, 323 restricted stock units (RSUs) vested and converted into common stock.
- Following the vesting, 127 shares were disposed of at a price of $94.83 to cover tax obligations.
- The reporting person now directly owns 2,784 shares of common stock.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to stock transactions by an executive. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is a common occurrence in publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| February 7, 2023 | Date 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 February 7, 2025. |
| February 6, 2024 | Date 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 February 6, 2025. |
| February 6, 2025 | Vesting of 295 Restricted Stock Units and disposal of 116 shares at $96.05. |
| February 7, 2025 | Vesting of 323 Restricted Stock Units and disposal of 127 shares at $94.83. |
| February 10, 2025 | Date of the report filing. |
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