Merck director receives 111.8299 stock-linked units

The director’s phantom-stock units are to be settled 100% in cash upon termination of service under an elected distribution schedule.

Rhea-AI Filing Summary

Merck & Co., Inc. director Surendralal Lanca Karsanbhai reported a grant of 111.8299 phantom stock units on September 30, 2026, with a reported price of $145.3100 per share. The reported phantom-stock balance afterward was 5,667.0117 units. The units are to be settled 100% in cash upon termination of service, following a distribution schedule elected under the Plan for Deferred Payment of Directors’ Compensation. Holdings include shares acquired in dividend reinvestment transactions.

Insider Trade Summary

Grant/Award: 111.8299 shares

Grant/Award 2 txns

Insider Karsanbhai Surendralal Lanca

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock F1, F2, F3	111.8299	$145.31	$16K
holding	Common Stock	--	--	--

Holdings After Transaction: Phantom Stock — 5,667.0117 contracts (Direct); Common Stock — 1 shares (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 grant: 111.8299 phantom stock units Reported price per share: $145.3100 per share Phantom stock balance following transaction: 5,667.0117 phantom stock units

3 metrics

Phantom stock grant 111.8299 phantom stock units September 30, 2026

Reported price per share $145.3100 per share Phantom stock grant reported September 30, 2026

Phantom stock balance following transaction 5,667.0117 phantom stock units Reported after the September 30, 2026 transaction

Key Terms

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

3 terms

Phantom stock units financial

"Phantom stock units are to be settled 100% in cash"

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

Plan for Deferred Payment of Directors' Compensation financial

"terms of the Plan for Deferred Payment of Directors' Compensation"

dividend reinvestment transactions financial

"shares acquired in dividend reinvestment transactions"

FAQ

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

How many phantom stock units did the MRK director receive?

Surendralal Lanca Karsanbhai, a Merck & Co., Inc. director, reported a grant of 111.8299 phantom stock units on September 30, 2026, with a reported price of $145.3100 per share. The reported phantom-stock balance afterward was 5,667.0117 units.

How is the MRK phantom stock award settled?

The units are to be settled 100% in cash upon the reporting person’s termination of service, in accordance with a distribution schedule elected under the Plan for Deferred Payment of Directors’ Compensation.

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

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Available on EDGAR 10/01/2026 - 01:50 PM Accepted by SEC EDGAR 10/01/2026 - 01:50 PM Learn about SEC filing dates

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^*

Karsanbhai Surendralal Lanca

(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)
09/30/2026

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
Common Stock								1	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)	09/30/2026		A		111.8299		(2)	(2)	Common Stock	111.8299	$145.31	5,667.0117(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 Surendralal L. Karsanbhai	10/01/2026
	** 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)