secwatch.observer — SEC 8-K summary
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Issuer:     Otis Worldwide Corp (OTIS)
CIK:        0001781335
Form:       8-K
Filed at:   2024-09-20T23:59:59+00:00
Accession:  0001781335-24-000045
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cristina Méndez named Otis EVP & CFO; receives $770k salary, $2.39M LTI award
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- Appointed EVP & CFO effective Aug 23, 2024; reports to CEO.
- Annual base salary $770,000; STI target 100% of base, prorated for 2024.
- Granted $2,390,000 LTI: 50% PSUs (vest 2027), 25% RSUs & 25% SARs (3-year ratable).
- Relocation to Farmington, CT; housing $5k/mo and other assignment benefits.
- Subject to 2-year worldwide non-compete and ELG Severance Plan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1781335/000178133524000045/0001781335-24-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1781335/000178133524000045/otis-20240918.htm
  HTML page:      https://secwatch.observer/filing/0001781335-24-000045

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer