Merck (MRK) director Seidman receives phantom stock grant in deferred plan

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Seidman Christine E reported acquisition or exercise transactions in this Form 4 filing.

Merck & Co., Inc. director Christine E. Seidman reported a routine compensation-related award of 63.2296 phantom stock units on June 30, 2026 at a reference value of $128.5000 per unit, increasing her phantom stock balance to 21,291.2690 units. She also reported direct ownership of 100 shares of common stock. The phantom stock units are cash-settled on a 1-for-1 basis in accordance with Merck’s deferred compensation plan after her service ends.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Seidman Christine E

Role null

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	63.23	$128.50	$8K
holding	Common Stock	--	--	--

Holdings After Transaction: Phantom Stock — 21,291.269 shares (Direct, null); Common Stock — 100 shares (Direct, null)

Footnotes (1)

1-for-1 Phantom stock units are to be settled 100% in cash upon reporting person's termination of service in accordance with a distribution schedule elected pursuant to the terms of the Plan for Deferred Payment of Directors' Compensation.

Key Figures

Phantom stock grant: 63.2296 units Reference price per unit: $128.5000 per unit Total phantom units after grant: 21,291.2690 units +2 more

5 metrics

Phantom stock grant 63.2296 units Grant to director on June 30, 2026

Reference price per unit $128.5000 per unit Phantom stock unit value for the grant

Total phantom units after grant 21,291.2690 units Director’s phantom stock balance post-transaction

Common stock held 100 shares Direct Merck common stock ownership

Settlement ratio 1-for-1 Phantom units linked 1-for-1 with common stock

Key Terms

Phantom Stock, Plan for Deferred Payment of Directors' Compensation, Grant, award, or other acquisition, phantom stock units are to be settled 100% in cash

4 terms

Phantom Stock financial

"Phantom Stock units are to be settled 100% in cash upon reporting person's termination of service"

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

Plan for Deferred Payment of Directors' Compensation financial

"in accordance with a distribution schedule elected pursuant to the terms of the Plan for Deferred Payment of Directors' Compensation"

Grant, award, or other acquisition financial

"transaction_code_description": "Grant, award, or other acquisition""

phantom stock units are to be settled 100% in cash financial

"Phantom stock units are to be settled 100% in cash upon reporting person's termination of service"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/01/2026 - 08:47 AM Accepted by SEC EDGAR 07/01/2026 - 08:47 AM

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^*

Seidman Christine E

(Last)

(First)

(Middle)

MERCK & CO., INC.

126 EAST LINCOLN AVENUE

(Street)

RAHWAY

NEW JERSEY

07065

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Merck & Co., Inc. [ MRK ]

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)
06/30/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock								100	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock	⁽¹⁾	06/30/2026		A		63.2296		⁽²⁾	⁽²⁾	Common Stock	63.2296	$128.5	21,291.269	D

Explanation of Responses:

1. 1-for-1

2. Phantom stock units are to be settled 100% in cash upon reporting person's termination of service in accordance with a distribution schedule elected pursuant to the terms of the Plan for Deferred Payment of Directors' Compensation.

	/s/ Kelly E. W. Grez as Attorney-in-Fact for Christine E. Seidman	07/01/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Merck (MRK) report for Christine E. Seidman?

Merck director Christine E. Seidman received 63.2296 phantom stock units as a grant. These units are part of a deferred compensation plan and mirror Merck’s common stock value, representing compensation rather than an open-market share purchase or sale.

How many Merck phantom stock units does Christine E. Seidman now hold?

After the June 30, 2026 grant, Christine E. Seidman holds 21,291.2690 phantom stock units. These units are tied to Merck’s common stock value and are scheduled to be settled in cash after her service ends, following the plan’s distribution schedule.

Did Christine E. Seidman buy or sell Merck (MRK) shares on the open market?

The filing does not show any open-market purchases or sales by Christine E. Seidman. It reports a grant of phantom stock units as compensation and a holding entry showing she directly owns 100 shares of Merck common stock.

How are Merck phantom stock units for directors settled under the plan?

Merck’s phantom stock units for directors are settled 100% in cash after service termination. The units are credited on a 1-for-1 basis with Merck common stock and paid out according to a distribution schedule elected under the Plan for Deferred Payment of Directors’ Compensation.

What Merck common stock holdings does Christine E. Seidman report after this Form 4?

Christine E. Seidman reports direct ownership of 100 shares of Merck common stock. This is separate from her 21,291.2690 phantom stock units, which are cash-settled compensation instruments linked to Merck’s stock value rather than actual issued shares.