Sec Form 4 Filing - Marks Judith Fran @ Otis Worldwide Corp - 2024-02-06

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 Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Marks Judith Fran 2. Issuer Name and Ticker or Trading Symbol Otis Worldwide Corp [ OTIS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Chair, CEO & President (Last) (First) (Middle) 1 CARRIER PLACE 3. Date of Earliest Transaction (MM/DD/YY) 02/06/2024 (Street) FARMINGTON, CT06032 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 02/06/2024 A 136,278 ( 4 ) A 262,060 D Common Stock 02/06/2024 F 32,429 D $ 91.94 229,631 D Common Stock 02/07/2024 S 37,312 ( 5 ) D $ 91.83 ( 5 ) 192,319 D Common Stock 02/07/2024 M 11,433 A 203,752 D Common Stock 02/07/2024 F 5,171 D $ 91.77 198,581 D Common Stock 22,500 I by 2023 GRAT

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 ( 1 ) 02/06/2024 A 34,212 ( 2 ) ( 2 ) Common Stock 34,212 $ 0 34,212 D Stock Appreciation Rights $ 91.94 02/06/2024 A 129,311 ( 2 ) 02/05/2034 Common Stock 129,311 $ 0 129,311 D Restricted Stock Units ( 1 ) 02/07/2024 M 11,433 ( 3 ) ( 3 ) Common Stock 11,433 $ 0 22,873 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Marks Judith Fran 1 CARRIER PLACE FARMINGTON, CT06032 X Chair, CEO & President Signatures Joshua Mullin, Attorney-in-Fact 02/08/2024 Signature of Reporting Person Date

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 )RSUs and stock appreciation rights vest in three substantially equal annual installments beginning on the first anniversary of the Transaction Date. ( 3 )On February 7, 2023, 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. ( 4 )The acquisition of Otis common stock represents the vesting of performance share units (PSUs) previously awarded on February 5, 2021. Each PSU has a value equal to one share of Otis common stock. These PSUs vested on the Transaction Date upon the achievement of the 3-year cycle preestablished performance targets. The performance criteria were certified to be achieved at the 200% level. The reporting person previously elected to defer 50% of this award under the LTIP PSU Deferral Plan upon vesting. Any vested shares that are deferred under this plan are credited as DSUs and will be settled in stock. The DSUs will be paid out in an equal number of shares of Otis common stock in accordance with the reporting person's previous elections. DSUs accrue dividend equivalents. ( 5 )This transaction was effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on July 28, 2023. The shares sold in multiple trades at prices ranging from $91.500 to $92.425. The price reported above reflects the weighted average sale price. The number of shares sold represents the shares received by the reporting person upon the vesting of the PSUs previously awarded on February 5, 2021 after giving effect to the tax withholdings and the 50% PSU deferral election. The plan terminated on the Transaction Date.

Remarks: A sale was effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on July 28, 2023.

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).

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