Fernandez Bernardo Calleja Form 4 Otis Worldwide / Fernandez Bernardo Calleja ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Calleja Fernandez Bernardo

(Last) (First) (Middle)

1 CARRIER PLACE

(Street)

FARMINGTON CT 06032

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Otis Worldwide Corp [ OTIS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
President, Otis EMEA

3. Date of Earliest Transaction (Month/Day/Year)
02/03/2023

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/03/2023		M		1,353	A	(1)	14,700	D
Common Stock	02/03/2023		F		603	D	$84.73	14,097	D
Common Stock	02/04/2023		M		3,160	A	(1)	17,257	D
Common Stock	02/04/2023		F		1,001	D	$84.73	16,256	D
Common Stock	02/05/2023		M		1,707	A	(1)	17,963	D
Common Stock	02/05/2023		F		607	D	$84.73	17,356	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction 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 (Month/Day/Year)		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: 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	(1)	02/03/2023		M			1,353	(2)	(2)	Common Stock	1,353	$0	2,716	D
Restricted Stock Units	(1)	02/04/2023		M			3,160	(3)	(3)	Common Stock	3,160	$0	0	D
Restricted Stock Units	$0(1)	02/05/2023		M			1,707	(4)	(4)	Common Stock	1,707	$0	1,714	D
Restricted Stock Units	$0(1)	02/07/2023		A		4,607		(5)	(5)	Common Stock	4,607	$0	4,607	D
Stock Appreciation Rights	$83.63	02/07/2023		A		15,730		(5)	02/06/2033	Common Stock	15,730	$0	15,730	D

Explanation of Responses:

1. Restricted stock units (RSUs) convert into common stock on a one-for-one basis. RSUs include the right to receive dividend equivalents that are credited as additional RSUs.

2. On February 3, 2022, 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 the Transaction Date.

3. The reporting person was granted RSUs by our former parent on February 4, 2020. These were converted into issuer RSUs that fully vested on the Transaction Date.

4. On February 5, 2021, 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 the Transaction Date.

5. RSUs and stock appreciation rights vest in three substantially equal annual installments beginning on the first anniversary of the Transaction Date.

	Joshua Mullin, Attorney-in-Fact	02/07/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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