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Otis is the world’s leading elevator and escalator manufacturing, installation, service and modernization company. 10-K, Item 1
2 paragraphs in Risk Factors of the 10-K filed Feb 5, 2026 with nothing like them in the 10-K filed Feb 4, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.
Compared with the Risk Factors in the latest 10-K of the other 81 Industrials companies: a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it. A paragraph most of them have is marked boilerplate. No line means no other company has one like it. This counts text; it does not say how serious a risk is.
Further, as we integrate emerging and rapidly evolving technologies, including AI, into our products and services, we face evolving risks related to safety, data governance, regulatory compliance and intellectual property and may not be able to anticipate or identify vulnerabilities, design flaws or security threats resulting from the use of such technology and develop adequate protection measures, which could lead to unintended consequences and significantly impact our business, reputation, and financial results.
Read in the 10-K ↗
Additionally, we provide products and services to government entities. Government contract laws and regulations impose certain risks. If violations of law are found, they could result in civil and criminal penalties and administrative sanctions, including termination of contracts, refund of a portion of fees received, forfeiture of profits, suspension of payments, fines and suspensions or debarment from future government business. Each of these factors could negatively impact our business, results of operations, financial condition, and reputation.
Read in the 10-K ↗
6 paragraphs in the 10-Q filed Oct 29, 2026 with nothing like them in the 10-Q filed Jul 23, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
As of October 15, 2026 there were 380,710,513 shares of Common Stock outstanding.
Read in the 10-Q ↗
During the fiscal quarter ended September 30, 2026, none of our directors or officers adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as those terms are defined in Item 408 of Regulation S-K, except as set forth below.
Read in the 10-Q ↗
On August 28, 2026, Ms. Marks, our Chair, President and Chief Executive Officer, adopted a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). The trading plan covers (i) the sale, based on our current projected performance against underlying financial goals, expected tax withholding and certain dividend and share price assumptions, of up to approximately 27,842 shares in connection with the vesting of performance stock units granted to Ms. Marks in February 2024, the actual amount of which may vary based on tax withholding and satisfaction of performance conditions; (ii) the sale, based on expected tax withholding and certain dividend and share price assumptions, of up to 28,276 shares in the aggregate in connection with the vesting of certain restricted stock units granted to Ms. Marks in each of February 2024, February 2025 and February 2026; and (iii) the exercise of up to 144,264 stock appreciation rights granted to Ms. Marks in 2021 and the sale of the underlying net shares, with the actual number of shares that may be sold depending on the Company’s stock price and applicable tax rates. The trading plan will terminate on August 15, 2027.
Read in the 10-Q ↗
The following activities are disclosed pursuant to Section 13(r) of the Securities Exchange Act of 1934, as amended.
Read in the 10-Q ↗
Otis S.C.S. (France) S.A.S. ("Otis France"), a non-U.S. subsidiary of Otis Worldwide Corporation organized under the laws of France, provided elevator maintenance and related services to the Paris branch of Banque Sepah, an Iranian bank located in Paris, France. Banque Sepah has been identified by the U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") as an entity associated with the Government of Iran.
Read in the 10-Q ↗
In 2017, Otis France entered into a maintenance contract counter-signed by an individual customer who at that time was not identified as being associated with Banque Sepah. In June 2026, Otis learned that the individual was obtaining commercial maintenance services on behalf of Banque Sepah under the contract. From the inception of the relationship through June 2026, Otis France received aggregate revenue of approximately $31,307.09 and realized aggregate net profit of approximately $15,653.54. Otis France did not receive any revenue or profit from the relationship in the period covered by this Form 10-Q. Otis has applied for an OFAC license to permit the orderly termination and wind-down of the service relationship, as well as an initial notice of voluntary self-disclosure. Otis does not intend to engage in any further activities with Banque Sepah and intends to terminate the relationship promptly upon authorization from OFAC.
Read in the 10-Q ↗
Item 1A of the 10-Q filed Oct 29, 2026 against Item 1A of the 10-K filed Feb 5, 2026.
A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed.
Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed,
Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal
(cut words struck through, new words highlighted and underlined).
Text on the page, not a score; each links to the filing at sec.gov.
What the 10-Q itself says about its risk factors:
Read in the 10-Q ↗
Except as otherwise noted above, there have been no material changes in the Company's risk factors from those disclosed in Item 1A "Risk Factors," in our 2025 Form 10-K.
Work on OTIS in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/OTIS/export.csv") into a cell.
