Form 4: Otis Worldwide Corp Executive Reports Stock Transactions
SEC Form 4 Filing
An Otis Worldwide Corp executive, Michael Patrick Ryan, reported transactions involving common stock and restricted stock units, including acquisitions and disposals to cover tax obligations.
Summary
- Michael Patrick Ryan, a Senior Vice President, CAO & Controller at Otis Worldwide Corp, filed a Form 4 detailing changes in his beneficial ownership of company stock.
- The transactions occurred on December 2, 2024, and involved both common stock and restricted stock units (RSUs).
- Ryan acquired 16 shares of common stock at $101.8 per share and disposed of 16 shares at the same price.
- He also acquired 31 shares of common stock at $101.8 per share and disposed of 31 shares at the same price.
- These transactions were related to the vesting of restricted stock units and the subsequent reduction of units to cover tax obligations.
- The RSUs were originally awarded on February 3, 2022, and February 7, 2023.
- The transactions resulted in a net change in the number of RSUs held by Ryan, with 16 and 31 units being reduced to cover taxes.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing and does not contain any information that would indicate positive or negative sentiment.
Industry Context
This is a routine filing related to executive compensation and is common for publicly traded companies.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the United States, as mandated by the SEC.
- The transactions reported are typical for executives who receive stock-based compensation, such as restricted stock units.
- The use of stock to cover tax obligations is a common practice in executive compensation plans.
- Companies like United Technologies (now RTX) and other large industrial firms have similar reporting requirements for their executives.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 02/03/2022 | Date of original award of some of the restricted stock units. |
| 02/07/2023 | Date of original award of some of the restricted stock units. |
| 12/02/2024 | Date of the reported stock transactions. |
| 12/04/2024 | Date the Form 4 was signed. |
Keywords
Form 4, insider trading, stock transactions, restricted stock units, executive compensation, Otis Worldwide Corp, OTIS
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.