Merck director receives phantom stock award

Merck & Co., Inc. director Mary Ellen Coe received a grant of 249.3973 phantom stock units on common stock equivalents.

Accepted by SEC EDGAR 04/01/2026 - 01:42 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Merck & Co., Inc. director Mary Ellen Coe received a grant of 249.3973 phantom stock units on common stock equivalents. The units were awarded at a reference price of $120.2900 per unit and are structured on a 1-for-1 basis with Merck common stock.

The phantom stock units are to be settled 100% in cash upon Coe’s termination of service, following a distribution schedule elected under the Plan for Deferred Payment of Directors' Compensation. After this award, her phantom stock holdings total 29,702.6519 units. A separate holding entry shows she directly owns 10 shares of Merck common stock, including shares acquired through dividend reinvestment transactions.

Insider Trade Summary

Grant/Award: 249.3973 shares

Grant/Award 1 txn

Insider Coe Mary Ellen

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	249.3973	$120.29	$30K
Holding	Common Stock	--	--	--

Holdings After Transaction: Phantom Stock — 29,702.6519 contracts (Direct); Common Stock — 10 shares (Direct)

Holdings Before and After: Phantom Stock, 29,453.2546 to 29,702.6519 contracts (Direct)

Footnotes (3)

1. F1. 1-for-1
2. F2. 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.
3. F3. Holdings include shares acquired in dividend reinvestment transactions.

Key Figures

Phantom stock units granted: 249.3973 units Reference price per unit: $120.2900 per unit Total phantom stock after award: 29,702.6519 units +1 more

4 metrics

Phantom stock units granted 249.3973 units Award on Merck common stock equivalents

Reference price per unit $120.2900 per unit Phantom stock grant value reference

Total phantom stock after award 29,702.6519 units Holdings following the reported transaction

Common stock directly held 10 shares Includes dividend reinvestment transactions

Key Terms

Phantom stock, Plan for Deferred Payment of Directors' Compensation, dividend reinvestment transactions

3 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"

dividend reinvestment transactions financial

"Holdings include shares acquired in dividend reinvestment transactions."

FAQ

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

What insider transaction did Merck (MRK) director Mary Ellen Coe report?

Mary Ellen Coe reported receiving 249.3973 phantom stock units tied to Merck common stock. The award increases her phantom stock holdings to 29,702.6519 units and reflects deferred, cash-settled director compensation rather than an open-market stock purchase or sale.

How are Mary Ellen Coe’s Merck (MRK) phantom stock units settled?

The phantom stock units are settled 100% in cash upon Coe’s termination of service. Payout timing follows a distribution schedule she elected under Merck’s Plan for Deferred Payment of Directors' Compensation, rather than being settled in actual Merck common shares.

What is the size and price reference of the new Merck (MRK) phantom stock award?

Coe received 249.3973 phantom stock units with a reference price of $120.2900 per unit. Each unit is on a 1-for-1 basis with Merck common stock, functioning as a cash-settled, stock-based compensation element for her board service.

What are Mary Ellen Coe’s total phantom stock and common share holdings in Merck (MRK)?

After the reported award, Coe holds 29,702.6519 phantom stock units and 10 shares of Merck common stock directly. The common stock holdings include shares acquired through dividend reinvestment transactions under relevant Merck programs.

Does Mary Ellen Coe’s Form 4 for Merck (MRK) show any open-market stock purchases or sales?

The Form 4 shows a grant of phantom stock units as deferred compensation and a holding entry for 10 common shares. It does not report any open-market purchase or sale transactions in Merck common stock for this date.

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^*

Coe Mary Ellen

(Last) (First) (Middle)

ALPHABET INC.

1600 AMPHITHEATRE PARKWAY

(Street)

MOUNTAIN VIEW CALIFORNIA 94043

(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)
03/31/2026

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
Common Stock								10	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock	(1)	03/31/2026		A		249.3973		(2)	(2)	Common Stock	249.3973	$120.29	29,702.6519(3)	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.

3. Holdings include shares acquired in dividend reinvestment transactions.

	/s/ Kelly E. W. Grez as Attorney-in-Fact for Mary Ellen Coe	04/01/2026
	** 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)