Form 4: Otis Worldwide EVP Abbe Luersman Reports Stock Transactions

EVP and CPO of Otis Worldwide Corp, Abbe Luersman, reports transactions involving common stock and restricted stock units.

Summary

• Abbe Luersman, EVP & CPO of Otis Worldwide Corp, filed a Form 4 detailing changes in beneficial ownership.
• On February 3, 2025, Luersman converted 1,302 Restricted Stock Units (RSUs) into common stock and disposed of 451 shares to cover tax obligations at a price of $94.55.
• Following these transactions on February 3, Luersman directly owned 10,843 shares of common stock.
• On February 4, 2025, Luersman acquired 6,374 shares of common stock through the vesting of performance share units (PSUs) and disposed of 1,899 shares to cover tax obligations at a price of $94.43.
• Following these transactions on February 4, Luersman directly owned 15,318 shares of common stock.
• Luersman also acquired 6,390 Restricted Stock Units (RSUs) on February 4, 2025, which vest in three substantially equal annual installments beginning on the first anniversary of the transaction date.
• The performance criteria for the PSUs were certified to be achieved at the 82% level.

Sentiment

Score: 5

Explanation: This is a neutral report of stock transactions, with no inherent positive or negative sentiment.

Future Outlook

RSUs vest in three substantially equal annual installments beginning on the first anniversary of the Transaction Date.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership by a company executive.

Key Dates

Keywords

Form 4, Beneficial Ownership, Stock Transactions, Restricted Stock Units, Performance Share Units, Otis Worldwide Corp, Luersman, OTIS