Danaher director Stevens acquires deferred share rights

The director’s deferred amounts are fully vested, and phantom shares convert one-for-one into common stock upon distribution.

Available on EDGAR 11/02/2026 - 05:01 PM EST Accepted by SEC EDGAR 11/02/2026 - 05:00 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Danaher Corporation (DHR) director Raymond C. Stevens acquired approximately 153 phantom shares on October 30, 2026, through the Non-Employee Directors Deferred Compensation Plan. The $232.23 figure is the closing price used to calculate the notional shares, rather than a stated cash purchase price. His reported direct position following the transaction was approximately 7,581 phantom shares; upon distribution, phantom shares convert one-for-one into Danaher common stock. The deferred amounts are fully vested.

Insider Trade Summary

Grant/Award: 152.741 shares

Grant/Award 1 txn

Insider Stevens Raymond C

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom shares F1, F2, F3	152.741	$232.23	$35K

Holdings After Transaction: Phantom shares — 7,580.576 contracts (Direct)

Footnotes (3)

1. F1. Under the terms of the Non-Employee Directors Deferred Compensation Plan (the "Plan") established under the Danaher Corporation Omnibus Incentive Plan, the reporting person can defer all or part of the cash director fees s/he is entitled to receive each quarter. Amounts deferred under the plan (which includes dividend accruals on plan balances and may also include cash director fees) are converted into a particular number of notional shares of Danaher common stock, calculated based on the closing price of Danaher's common stock on the quarterly date such amounts otherwise would have been paid. The price shown in Table II, Column 8 above is the closing price per share of the Danaher common stock as reported on the NYSE on the transaction date noted above.
2. F2. Upon distribution, the phantom shares convert into shares of Danaher common stock on a one-for-one basis.
3. F3. The reporting person is fully vested in all amounts deferred under the Plan.

Key Figures

Phantom shares acquired: Approximately 153 phantom shares Closing price used to calculate notional shares: $232.23 per share Direct phantom shares following transaction: Approximately 7,581 phantom shares +1 more

4 metrics

Phantom shares acquired Approximately 153 phantom shares October 30, 2026

Closing price used to calculate notional shares $232.23 per share Transaction date October 30, 2026

Direct phantom shares following transaction Approximately 7,581 phantom shares Reported position after the transaction

Phantom-share conversion One-for-one Upon distribution into Danaher common stock

Key Terms

phantom shares, notional shares, Non-Employee Directors Deferred Compensation Plan, one-for-one basis

4 terms

phantom shares financial

"Amounts deferred under the plan ... are converted into ... notional shares"

Phantom shares are a form of employee or executive compensation that mimics the economic value of owning company stock without actually issuing real shares; holders receive cash or equivalent payments tied to the company’s share price or dividends. Think of it like a receipt that pays out if the stock rises — it aligns managers’ interests with shareholders but does not dilute ownership, while creating a future cash obligation that investors should watch as it can affect company cash flow and valuation.

notional shares financial

"converted into a particular number of notional shares"

Non-Employee Directors Deferred Compensation Plan financial

"terms of the Non-Employee Directors Deferred Compensation Plan"

one-for-one basis financial

"phantom shares convert into shares ... on a one-for-one basis"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many phantom shares did DHR director Raymond C. Stevens acquire?

Raymond C. Stevens acquired approximately 153 phantom shares on October 30, 2026. The reported direct position after the transaction was approximately 7,581 phantom shares.

How are Danaher director phantom shares calculated and distributed?

Amounts deferred under the plan, including dividend accruals and potentially cash director fees, are converted into notional shares using Danaher common stock’s closing price on the quarterly date the amounts otherwise would have been paid. Upon distribution, phantom shares convert into common stock on a one-for-one basis.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Stevens Raymond C

(Last) (First) (Middle)

2200 PENNSYLVANIA AVENUE, NW

SUITE 800W

(Street)

WASHINGTON DISTRICT OF COLUMBIA 20037

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
DANAHER CORP /DE/ [ DHR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/30/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom shares(1)	$0(2)	10/30/2026		A		152.741		(3)	(3)	Common Stock	152.741	$232.23	7,580.576	D

Explanation of Responses:

1. Under the terms of the Non-Employee Directors Deferred Compensation Plan (the "Plan") established under the Danaher Corporation Omnibus Incentive Plan, the reporting person can defer all or part of the cash director fees s/he is entitled to receive each quarter. Amounts deferred under the plan (which includes dividend accruals on plan balances and may also include cash director fees) are converted into a particular number of notional shares of Danaher common stock, calculated based on the closing price of Danaher's common stock on the quarterly date such amounts otherwise would have been paid. The price shown in Table II, Column 8 above is the closing price per share of the Danaher common stock as reported on the NYSE on the transaction date noted above.

2. Upon distribution, the phantom shares convert into shares of Danaher common stock on a one-for-one basis.

3. The reporting person is fully vested in all amounts deferred under the Plan.

Remarks:

	/s/ James F. O'Reilly as attorney-in-fact for Raymond C. Stevens, Ph.D.	11/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)