Form 4: Otis Worldwide Corp: Officer Ryan Michael Patrick Reports Stock Transactions
SEC Form 4 Filing
SVP, CAO & Controller Michael Patrick Ryan reports the vesting and subsequent disposal of restricted stock units (RSUs) resulting in changes to his beneficial ownership of Otis Worldwide Corp stock.
Summary
- On February 6, 2025, Michael Patrick Ryan, SVP, CAO & Controller of Otis Worldwide Corp, reported transactions involving restricted stock units (RSUs) converting into common stock.
- 335 RSUs vested and were converted to common stock.
- 105 shares were disposed of at a price of $96.05.
- Following these transactions, Ryan directly owns 2,384 shares of common stock.
- On February 7, 2025, 373 RSUs vested and were converted to common stock.
- 109 shares were disposed of at a price of $94.83.
- Following these transactions, Ryan directly owns 2,648 shares of common stock.
- These transactions were executed pursuant to the vesting schedule of previously granted RSUs.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to stock transactions by an officer. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
Form 4 filings are standard disclosures required by the SEC to ensure transparency in insider trading activities. They provide insights into the transactions of company executives and directors, which can be indicative of their confidence in the company's prospects.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership by a company officer.
- The impact on employees, customers, suppliers, and creditors is likely negligible.
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 02/07/2025. |
| 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 02/06/2025. |
| February 6, 2025 | Date of RSU vesting and stock disposal. |
| February 7, 2025 | Date of RSU vesting and stock disposal. |
| February 10, 2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Stock Transactions, Restricted Stock Units, OTIS, Otis Worldwide Corp, Ryan Michael Patrick, Insider Trading
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