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OTISOtis Worldwide Corp · Insider ownership research

Otis Worldwide Corp insiders sold $17.2M in the past 12 months. How much of their stake is that?

About 47% overall. As a group they ended with more shares than they started with. These figures leave out Judith Marks, the largest holder (holdings couldn't be fully reconciled).

Updated Oct 8, 2026 from SEC filings · covers Oct 9, 2025 to Oct 8, 2026
How this comparesMore of their stake sold than at 154 of the 156 other companies we can measure (#3 of 157)See ranking
0
buyers among officers and directors, past 12 months
54%
of sales were under disclosed trading plans, past 12 months
6 of 23
officers and directors sold shares, past 12 months
Recent activity · past 30 days, Sep 9, 2026 to Oct 8, 2026

No officer or director trades were reported for the past 30 days. The most recent before that:

Sep 2, 2026Kimberly Gosk had 274 shares ($19K) withheld by the company for taxes (not a market sale). That is 3.3% of the total stake held that day. 933 shares came in from vesting or option exercises the same day, so the holding rose by 659 net.
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
Kimberly Gosk
EVP & CPO
274$70.833.3%8.1KSep 2, 2026Sep 4, 2026

"% of total stake" is the shares in this event against all the vested shares the person held that day, across every share class and holding entity, after that day's vesting. "n/a" means the person's holdings don't reconcile, or the row is a purchase. "Holdings record incomplete" means more shares were sold than the filings show the person held that day, so a percentage would be wrong.

Is this normal? More than usual: about 2.5x the 5-year average. 6 insiders sold; the average is 6 a year. Year by year
Latest filing: Filed Sep 4 for a tax withholding on Sep 2. Kimberly Gosk had 274 shares withheld by the company for taxes. Filing
48 SEC ownership filings in the period · See the evidence

What stands out

Two officers sold more than 25% of vested holdings: Stephane de Montlivault (75% of holdings, $4.4M, none under a disclosed plan) and Nora LaFreniere (90% of holdings, $2.5M, none under a disclosed plan).Stephane de Montlivault: largest sale, Feb 12, 2026 · Nora LaFreniere: largest sale, Feb 10, 2026

Percentages cover 12 of 23 officers and directors. 11 are left out

i
Left out: Judith Marks (holdings couldn't be fully reconciled); Michael Ryan (most of their shares vested during the period, so a percentage would mislead); Jeffrey Black, Kathy Hannan, John Walker, Shelley Stewart Jr., Shailesh Jejurikar, Nelda Connors and Jill Brannon (held no vested shares at the start); Margaret Preston (most holdings were last confirmed in 2021); Christopher Kearney (most holdings were last confirmed in 2022).
Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Each bar is the insider's vested stake at the start of the period (Oct 8, 2025). The gold part is what they sold.

SoldRest of starting stakeAdded during the period
Judith Marks
Chair, CEO and President
No bar: holdings couldn't be fully reconciled.
$9.3MDisclosed plan
Stephane de Montlivault
President, Otis Asia Pacific
75% · $4.4MNo plan disclosed
Nora LaFreniere
EVP, General Counsel
90% · $2.5MNo plan disclosed
Neil Green
EVP & Chief Digital Officer
61% · $519KNo plan disclosed
Michael Ryan
SVP, CAO & Controller
No bar: most of their shares vested during the period, so a percentage would mislead.
$384KNo plan disclosed
All 6 sellers

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planTo cover taxesNo plan disclosed
OctNov 2025: $278K no plan disclosedNovDecJanFeb 2026: $9.3M under a disclosed planFeb 2026: $7.5M no plan disclosed$16.8MFebMarAprMay 2026: $125K no plan disclosedMayJunJulAugSepOct

Common questions

Is the Otis Worldwide Corp CEO selling stock?

Yes. Judith Marks sold 103K shares ($9.3M) in the past 12 months, all of it under a trading plan disclosed in the filings.

Why are Otis Worldwide Corp insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 54% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 46% had no disclosed plan. A trading plan schedules sales in advance.

Are any Otis Worldwide Corp insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

How much of their stake did Otis Worldwide Corp insiders sell?

About 47% overall. As a group they ended with more shares than they started with. These figures leave out Judith Marks, the largest holder (holdings couldn't be fully reconciled). That covers the 12 months to Oct 8, 2026 and counts vested shares reported on SEC Forms 3, 4 and 5, which is not an insider's whole wealth.

The evidence

Who sold6 officers and directors: amount, % of holdings, trading plan
Who soldAmount% of holdingsTrading plan
Judith Marks
Chair, CEO and President
$9.3M
103K shares
i
No percentage: holdings couldn't be fully reconciled.
Disclosed plan
Stephane de Montlivault
President, Otis Asia Pacific
$4.4M
48K shares
75%No plan disclosed
Nora LaFreniere
EVP, General Counsel
$2.5M
27K shares
90%No plan disclosed
Neil Green
EVP & Chief Digital Officer
$519K
6K shares
61%No plan disclosed
Michael Ryan
SVP, CAO & Controller
$384K
4.2K shares
i
No percentage: most of their shares vested during the period, so a percentage would mislead.
No plan disclosed
Thibault Lefebure
President, Otis EMEA
$125K
1.6K shares
38%No plan disclosed
The full ownership picture22 of 23 insiders fully reconciled · 14 officers and directors

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

InsiderHeld Oct 8, 2025SoldHeld Oct 8, 2026Still held
Judith Marks
!
Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: -8,541 shares on Feb 3, 2026 (Direct). See the filing Sales and other transactions for Judith Marks are complete.
Chair, CEO and President
n/a−103Kn/an/a
Vesting, gifts, unvested awards and holding lines for Judith Marks
+234Kshares vested or exercised
0gifted (net of own trusts)
−31Kwithheld by the company for taxes
259K → 367Kunvested awards, start → end

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: -8,541 shares on Feb 3, 2026 (Direct). The balances below are as reported, not verified totals.

Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock230,153244,063
2023 GRATCommon Stock12,80012,800
2025 GRATCommon Stock023,000
Stephane de Montlivault
President, Otis Asia Pacific
64K−48K29K46%
Vesting, gifts, unvested awards and holding lines for Stephane de Montlivault
+5.3Kshares vested or exercised
0gifted (net of own trusts)
20K → 25Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock63,93129,176
Sally Loh
President, Otis Greater China
32K046Kno sales
Vesting, gifts, unvested awards and holding lines for Sally Loh
+5.7Kshares vested or exercised
0gifted (net of own trusts)
−264withheld by the company for taxes
20K → 35Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock32,34545,507
Nora LaFreniere
EVP, General Counsel
31K−27K14K45%
Vesting, gifts, unvested awards and holding lines for Nora LaFreniere
+11Kshares vested or exercised
0gifted (net of own trusts)
−4.7Kwithheld by the company for taxes
73K → 88Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock30,52613,880
Viseras Minarro
Chief Operating Officer
11K032Kno sales
Vesting, gifts, unvested awards and holding lines for Viseras Minarro
+26Kshares vested or exercised
0gifted (net of own trusts)
−19Kwithheld by the company for taxes
86K → 115Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock11,47532,422
Neil Green
EVP & Chief Digital Officer
9.8K−6K7.5K76%
Vesting, gifts, unvested awards and holding lines for Neil Green
+2.4Kshares vested or exercised
0gifted (net of own trusts)
−1.7Kwithheld by the company for taxes
13K → 19Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock9,7737,466
Peiming Zheng
EVP, Chief Product, Delivery
6.8K022Kno sales
Vesting, gifts, unvested awards and holding lines for Peiming Zheng
+17Kshares vested or exercised
0gifted (net of own trusts)
−11Kwithheld by the company for taxes
63K → 96Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock6,80122,455
Kimberly Gosk
EVP & CPO
5.7K08.1Kno sales
Vesting, gifts, unvested awards and holding lines for Kimberly Gosk
+2Kshares vested or exercised
0gifted (net of own trusts)
−1.1Kwithheld by the company for taxes
5K → 14Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock5,6888,112
Echevarria Mendez
EVP & CFO
5.2K011Kno sales
Vesting, gifts, unvested awards and holding lines for Echevarria Mendez
+7.1Kshares vested or exercised
0gifted (net of own trusts)
−3.4Kwithheld by the company for taxes
34K → 60Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock5,23510,556
Nicolas Lopez
i
Started reporting during the period; starting holdings are from the Form 3.
President, Otis Asia Pacific
4.4K04.4Kno sales
Vesting, gifts, unvested awards and holding lines for Nicolas Lopez
0shares vested or exercised
0gifted (net of own trusts)
2.5K → 7.2Kunvested awards, start → end
  • Started reporting during the period; starting holdings are from the Form 3.
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock4,4444,444
Thibault Lefebure
i
Started reporting during the period; starting holdings are from the Form 3.
President, Otis EMEA
4.3K−1.6K4K93%
Vesting, gifts, unvested awards and holding lines for Thibault Lefebure
+793shares vested or exercised
0gifted (net of own trusts)
−696withheld by the company for taxes
1.7K → 9.2Kunvested awards, start → end
  • Started reporting during the period; starting holdings are from the Form 3.
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock4,3234,008
Michael Ryan
SVP, CAO & Controller
2.6K−4.2K3.5Knot meaningful
Vesting, gifts, unvested awards and holding lines for Michael Ryan
+11Kshares vested or exercised
0gifted (net of own trusts)
−1.1Kwithheld by the company for taxes
5.7K → 9.5Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock2,6483,504
Thomas Bartlett
Director
4310431no sales
Vesting, gifts, unvested awards and holding lines for Thomas Bartlett
0shares vested or exercised
0gifted (net of own trusts)
9.9K → 18Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock431431
Joseph Armas
President, Otis Americas
26003Kno sales
Vesting, gifts, unvested awards and holding lines for Joseph Armas
+2.6Kshares vested or exercised
0gifted (net of own trusts)
−1Kwithheld by the company for taxes
7.1K → 19Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock2602,990

22 of 23 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (22 exactly, 0 with a minor or footnoted difference). For 1 we show sales but not holdings; the ! icon on that row explains why. Percentages cover 12 of 23 officers and directors. Left out: Judith Marks (holdings couldn't be fully reconciled); Michael Ryan (most of their shares vested during the period, so a percentage would mislead); Jeffrey Black, Kathy Hannan, John Walker, Shelley Stewart Jr., Shailesh Jejurikar, Nelda Connors and Jill Brannon (held no vested shares at the start); Margaret Preston (most holdings were last confirmed in 2021); Christopher Kearney (most holdings were last confirmed in 2022). "Still held" compares ending with starting vested shares; a plus sign means the holding grew.

What explains the selling$17.2M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $17.2M across 190,087 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

The lighter segment is sales with no plan disclosed in the filing ($7.9M), including tax-related sales outside a plan.

No plan disclosed · $7.9M

Sales with no 10b5-1 plan and no tax reference in the filing. $4.4M of it is Stephane de Montlivault. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Stephane de Montlivault, Feb 12, 2026

Taxes

$4.2M of sales (24.3%) cite tax obligations in their footnotes, $4.2M of them also under a plan. Separately, 74,622 shares ($6.6M) were withheld by the company for taxes, which isn't a market sale. Example: Judith Marks, Feb 4, 2026

SellerShares soldProceedsUnder a disclosed planShare of totalSales dates
Judith Marks
Chair, CEO and President
103K$9.3M100%54%Feb 4, 2026 to Feb 5, 2026
Stephane de Montlivault
President, Otis Asia Pacific
48K$4.4M0%26%Feb 12, 2026 to Feb 12, 2026
Nora LaFreniere
EVP, General Counsel
27K$2.5M0%14%Feb 10, 2026 to Feb 10, 2026
Neil Green
EVP & Chief Digital Officer
6K$519K0%3%Feb 2, 2026 to Feb 2, 2026
Michael Ryan
SVP, CAO & Controller
4.2K$384K0%2%Nov 5, 2025 to Feb 10, 2026
Thibault Lefebure
President, Otis EMEA
1.6K$125K0%0.7%May 7, 2026 to May 7, 2026

Sales by month

MonthSale proceedsDisclosed planTo cover taxesNo plan disclosed
Oct 2025$0$0$0$0
Nov 2025$278K$0$0$278K
Dec 2025$0$0$0$0
Jan 2026$0$0$0$0
Feb 2026$16.8M$9.3M$0$7.5M
Mar 2026$0$0$0$0
Apr 2026$0$0$0$0
May 2026$125K$0$0$125K
Jun 2026$0$0$0$0
Jul 2026$0$0$0$0
Aug 2026$0$0$0$0
Sep 2026$0$0$0$0
Oct 2026$0$0$0$0
Is this normal? Selling year by year5 earlier years to compare with

More than usual: about 2.5x the 5-year average. 6 insiders sold; the average is 6 a year.

12 months endingShares soldInsiders who soldProceeds
Oct 8, 2026
Latest 12 months
190K6$17.2M
Oct 8, 2025
1 year earlier
152K6$14.7M
Oct 8, 2024
2 years earlier
112K5$10.3M
Oct 9, 2023
3 years earlier
63K6$5.3M
Oct 9, 2022
4 years earlier
28K4$2.1M
Oct 9, 2021
5 years earlier
22K7$1.7M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertainty1 insider whose holdings couldn't be fully reconciled

Judith Marks: holdings couldn't be fully reconciled (difference of 14,459 shares). Balance changed without a matching transaction, and the footnote does not state the amount: -8,541 shares on Feb 3, 2026 (Direct). Filing, Feb 3, 2026

Footnote: "The acquisition of Otis common stock represents the vesting of performance share units (PSUs) previously awarded on February 7, 2023. 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 82% 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 st"

Inferred rename: "Otis IRA" is treated as the same holder as "IRA", because the old name was never reported again and the new one opened with the same balance (19 shares). Old name, new name

Inferred rename: "UTC 401(k)" is treated as the same holder as "401(k) Plan", because the old name was never reported again and the new one opened with the same balance (463 shares). Old name, new name

Inferred rename: "UTC 401(k)" is treated as the same holder as "401(k) Plan", because the old name was never reported again and the new one opened with the same balance (754 shares). Old name, new name

Inferred rename: "UTC 401(k) plan" is treated as the same holder as "UTC 401K", because the old name was never reported again and the new one opened with the same balance (54 shares). Old name, new name

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology311 filings from SEC EDGAR, and how we read them

All 311 Forms 3, 4 and 5 filed for Otis Worldwide Corp (SEC CIK 1781335) from Mar 16, 2020 to Sep 4, 2026, retrieved from SEC EDGAR on Oct 8, 2026. Prices are the ones reported in each filing, often weighted averages.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (13)No filing in 18 months; last reported balances, not in any total
NameLast filedLast reported balance
Abbe LuersmanFeb 10, 202517,293 shares, last reported balance as of Feb 7, 2025
Tracy EmbreeFeb 10, 202518,276 shares, last reported balance as of Feb 6, 2025
Anurag MaheshwariFeb 8, 202432,987 shares, last reported balance as of Feb 7, 2024
Fernandez CallejaJul 28, 202342,097 shares, last reported balance as of Jul 28, 2023
James CramerJun 2, 202316,555 shares, last reported balance as of Jun 1, 2023
Harold McGraw IIIMay 22, 2023No balance on record
Rahul GhaiAug 2, 20222,082 shares, last reported balance as of Aug 2, 2022
Laurie HavanecJan 5, 202113,537 shares, last reported balance as of Jan 2, 2021
Richard EubanksJun 3, 2020No balance on record
UNITED TECHNOLOGIES CORP /DE/Mar 23, 2020No balance on record
Christopher WitzkyNo balance on record
Sean MoylanNo balance on record
Gregory MarshallNo balance on record