On April 5, 2024, Otis Worldwide Corporation announced that it has received a shareholder proposal from John Chevedden requesting that the Board to adopt a Corporate Governance Guideline, rule or bylaw provision to state that a director who fails to obtain a majority vote in an uncontested election shall not be nominated by the Board at the next annual shareholder meeting. In addition, the Company recommended the shareholders to vote against the proposal at the annual meeting of shareholders scheduled to be held on May 16, 2024.