Form 4: Otis Worldwide EVP Neil Green Reports Stock Transactions
SEC Form 4 Filing
Neil Green, EVP and Chief Digital Officer of Otis Worldwide Corp, reports the vesting and subsequent disposal of restricted stock units (RSUs) and associated tax withholding.
Summary
- On February 6, 2025, Neil Green, EVP and Chief Digital Officer of Otis Worldwide Corp, reported transactions involving Otis common stock.
- 672 Restricted Stock Units (RSUs) vested and were converted into common stock.
- 203 shares were disposed of at $96.05 to cover tax obligations.
- On February 7, 2025, 589 RSUs vested and were converted into common stock.
- 178 shares were disposed of at $94.83 to cover tax obligations.
- Following these transactions, Green directly owns 9,773 shares of Otis common stock and 598 RSUs.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders, like Neil Green, transact in their company's stock. These filings provide transparency to the market regarding the buying and selling activities of individuals with access to non-public information.
Comparison to Industry Standards
- Form 4 filings are a standard regulatory requirement for publicly traded companies in the United States, ensuring transparency in insider trading activities.
- Similar filings are expected from executives at comparable companies like Schindler, Kone, and ThyssenKrupp when they engage in transactions involving their respective company's stock.
- The specifics of RSU grants and vesting schedules are company-specific and would vary based on individual compensation agreements.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they represent routine vesting and tax-related sales of shares by an executive.
- The filing provides transparency to shareholders regarding insider transactions, which can influence investor confidence.
Key Dates
| Date | Description |
|---|---|
| 02/07/2023 | Date the reporting person was granted RSUs vesting in three substantially equal annual installments beginning on the first anniversary of the grant date. |
| 02/06/2024 | Date the reporting person was granted RSUs vesting in three substantially equal annual installments beginning on the first anniversary of the grant date. |
| 02/06/2025 | Transaction date: Vesting of 672 RSUs and disposal of 203 shares for tax obligations. |
| 02/07/2025 | Transaction date: Vesting of 589 RSUs and disposal of 178 shares for tax obligations. |
| 02/10/2025 | Date of Form 4 signature. |
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