Merck director granted 1,853 phantom stock units

Karsanbhai Surendralal Lanca reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Karsanbhai Surendralal Lanca reported acquisition or exercise transactions in this Form 4 filing.

Merck & Co., Inc. director Karsanbhai Surendralal Lanca reported a compensation-related award of phantom stock units rather than an open-market trade. On 2026-05-29, he received 1,853.0997 phantom stock units, bringing his total phantom stock holdings to 5,392.3427 units.

Each phantom unit is linked on a 1-for-1 basis to Merck common stock but will be settled 100% in cash after his service ends, following a distribution schedule under the Plan for Deferred Payment of Directors' Compensation. He also reports direct ownership of 1 share of Merck common stock, with holdings including shares from dividend reinvestment transactions.

Insider Trade Summary

Grant/Award: 1,853.0997 shares

Grant/Award 2 txns

Insider Karsanbhai Surendralal Lanca

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	1,853.0997	$118.72	$220K
holding	Common Stock	--	--	--

Holdings After Transaction: Phantom Stock — 5,392.3427 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 units granted: 1,853.0997 units Phantom units total: 5,392.3427 units Reference price per unit: $118.7200 per unit +1 more

4 metrics

Phantom units granted 1,853.0997 units Grant of phantom stock on 2026-05-29

Phantom units total 5,392.3427 units Total phantom stock holdings after grant

Reference price per unit $118.7200 per unit Phantom stock grant price

Common stock held 1 share Direct Merck common stock ownership after transactions

Key Terms

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

3 terms

Phantom stock financial

"The director received a grant of phantom stock units linked 1-for-1"

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

"under 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 Karsanbhai Lanca report?

Merck director Karsanbhai Surendralal Lanca reported receiving a grant of phantom stock units. On 2026-05-29, he was awarded 1,853.0997 phantom stock units, increasing his total phantom holdings to 5,392.3427 units as a form of deferred, cash-settled compensation.

How many phantom stock units tied to Merck (MRK) does the director now hold?

After the latest award, the director holds 5,392.3427 phantom stock units. These units mirror Merck’s common stock 1-for-1 but are paid out entirely in cash after his service ends, under the Plan for Deferred Payment of Directors' Compensation.

Are the Merck (MRK) phantom stock units settled in shares or cash?

The phantom stock units are settled 100% in cash, not in Merck shares. Payment occurs upon the director’s termination of service, following a distribution schedule he elected under the Plan for Deferred Payment of Directors' Compensation.

Did the Merck (MRK) director buy or sell common stock in this Form 4 filing?

The filing does not show an open-market buy or sell of Merck common stock. It reports a phantom stock grant and confirms direct ownership of 1 common share, with holdings including shares acquired through dividend reinvestment transactions.

What is the reference price for the Merck (MRK) phantom stock units granted?

The 1,853.0997 phantom stock units were granted at a reference price of $118.7200 per unit. Each unit is linked 1-for-1 to Merck common stock value but will ultimately be paid in cash under the company’s deferred compensation plan.

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

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Accepted by SEC EDGAR 06/02/2026 - 03:31 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)
05/29/2026

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)	05/29/2026		A		1,853.0997		(2)	(2)	Common Stock	1,853.0997	$118.72	5,392.3427(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	06/02/2026
	** 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)