Statement of Changes in Beneficial Ownership (4)
December 02 2020 - 5:39PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Ryan Michael Patrick |
2. Issuer Name and Ticker or Trading Symbol
Otis Worldwide Corp
[
OTIS
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) VP, CAO and Controller |
(Last)
(First)
(Middle)
1 CARRIER PLACE |
3. Date of Earliest Transaction
(MM/DD/YYYY)
11/30/2020 |
(Street)
FARMINGTON, CT 06032
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock | 11/30/2020 | | M | | 73 | A | $66.94 | 361 | D | |
Common Stock | 11/30/2020 | | F | | 73 | D | $66.94 | 288 | D | |
Common Stock | 11/30/2020 | | M | | 59 | A | $66.94 | 347 | D | |
Common Stock | 11/30/2020 | | F | | 59 | D | $66.94 | 288 | D | |
Common Stock | | | | | | | | 463 | I | By UTC 401(k) |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Restricted Stock Units | $0 (1) | 11/30/2020 | | M | | | 59 (2) | (2) | (2) | Common Stock | 59 (2) | $0 (2) | 1694 | D | |
Restricted Stock Units | $0 (1) | 11/30/2020 | | M | | | 73 (3) | (3) | (3) | Common Stock | 73 (3) | $0 (3) | 2106 | D | |
Explanation of Responses: |
(1) | Each restricted stock unit represents a contingent right to receive one share of common stock from the issuer. |
(2) | The reporting person was originally granted performance stock units by UTC, the former parent company of the issuer. Since the date of the spin-off of the issuer, these performance conditions no longer apply. This transaction reflects a reduction in the RSUs otherwise deliverable upon future vesting in order to satisfy FICA taxes that are due because the reporting person qualifies for retirement treatment under the award. |
(3) | The reporting person was originally granted restricted stock units by UTC, the former parent company of the issuer. This transaction reflects a reduction in the RSUs otherwise deliverable upon future vesting in order to satisfy FICA taxes that are due because the reporting person qualifies for retirement treatment under the award. These RSUs accrue dividend equivalents. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Ryan Michael Patrick 1 CARRIER PLACE FARMINGTON, CT 06032 |
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| VP, CAO and Controller |
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Signatures
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Joshua Mullin, Attorney-in-Fact | | 12/2/2020 |
**Signature of Reporting Person | Date |
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