Otis Worldwide Corporation

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On September 15, 2026, Otis Worldwide Corporation (the “Company”) announced that the Board of Directors of the Company (the “Board”) and Judith F. Marks, the Company’s Chair, Chief Executive Officer and President, have agreed that Ms. Marks will retire from the Company effective on the earlier of (i) the date her successor commences service as the Company’s Chief Executive Officer and President, which is currently expected to occur during the first half of 2027, and (ii) July 31, 2027 (such earlier date, the “Transition Date”). Ms. Marks will also resign from the Board effective as of the Transition Date. As part of the Board’s ongoing succession-planning process, the Board is conducting a comprehensive search to identify the Company’s next Chief Executive Officer, with which Ms. Marks will assist. The search is being overseen by a succession committee of the Board chaired by Christopher J. Kearney. The succession committee has retained Spencer Stuart, a leading global executive search firm, to assist with the search, which is considering both internal and external candidates. In connection with this transition, the Company and Ms. Marks entered into a letter agreement on September 13, 2026 (the “Transition Agreement”). Under the Transition Agreement, Ms. Marks will continue to serve as the Company’s Chair, Chief Executive Officer and President through the Transition Date and will resign from the Board and all other positions with the Company and its subsidiaries effective as of that date. However, if the Transition Date occurs before July 31, 2027, Ms. Marks will serve as a non-employee senior advisor through July 31, 2027 to support the leadership transition. Furthermore, if Ms. Marks is terminated by the Company without cause, or if Ms. Marks resigns following the Company’s material breach of the Transition Agreement, then the date of such termination of employment will constitute the Transition Date, and her service as a senior advisor will commence. She will receive no cash compensation for the advisory services, but her outstanding Company equity awards will continue to vest during the advisory period in accordance with their terms and she will remain eligible to receive her annual bonus in respect of 2026 based on actual performance and, if the Transition Date occurs prior to January 1, 2027, prorated in respect of the partial year of employment. The foregoing summary is qualified in its entirety by the Transition Agreement, filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 7.01. Regulation FD Disclosure. On September 15, 2026, the Company issued a press release announcing the executive transition, a copy of which is furnished with this Current Report as Exhibit 99.1 and incorporated into this Item 7.01 by reference. The information in this Item 7.01, including the presentation materials and other information on the Company’s website, shall not be deemed filed for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section and shall not be deemed to be incorporated by reference into any filing by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.