Merck EVP Dean Li receives new stock, option grants

Merck & Co., Inc. Executive VP & President, MRL, Dean Y. Li reported new equity awards.

Rhea-AI Filing Summary

Merck & Co., Inc. Executive VP & President, MRL, Dean Y. Li reported new equity awards. The filing shows a grant of 58,207 stock options with a $113.15 exercise price and a separate grant of 19,885 restricted stock units, each tied to one share of Merck common stock.

The options vest and become exercisable in three equal installments on 5/5/2027, 5/5/2028, and 5/5/2029, and expire on 5/4/2036. The restricted stock units vest and are delivered as shares on the same three annual dates. Following these transactions, Li directly holds 94,431.0500 shares of Merck common stock.

Insider Trade Summary

Grant/Award: 78,092 shares

Grant/Award 3 txns

Insider Li Dean Y

Role Executive VP & President, MRL

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Unit	19,885	$0.00	$0.00
Grant/Award	Stock Option (Right to Buy)	58,207	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Unit — 19,885 contracts (Direct); Stock Option (Right to Buy) — 58,207 contracts (Direct); Common Stock — 94,431.05 shares (Direct)

Footnotes (3)

1. F1. Each restricted stock unit represents a contingent right to receive one share of Merck & Co., Inc. common stock.
2. F2. These restricted stock units vest and are distributed as shares of Merck & Co., Inc. common stock in three equal installments on 5/5/2027, 5/5/2028, and, 5/5/2029.
3. F3. The option vests and becomes exercisable in equal installments on 5/5/2027, 5/5/2028, and, 5/5/2029.

Key Figures

Stock options granted: 58,207 options Option exercise price: $113.15 per share Restricted stock units granted: 19,885 RSUs +1 more

4 metrics

Stock options granted 58,207 options Grant on 5/5/2026 with $113.15 exercise price

Option exercise price $113.15 per share Stock Option (Right to Buy) granted to Dean Y. Li

Restricted stock units granted 19,885 RSUs Each unit equals one Merck common share

Common shares held after 94,431.0500 shares Direct ownership following reported transactions

Key Terms

Restricted Stock Unit, Stock Option (Right to Buy, vests and becomes exercisable

3 terms

Restricted Stock Unit financial

"Each restricted stock unit represents a contingent right to receive one share of Merck & Co., Inc. common stock."

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

Stock Option (Right to Buy financial

"Security title listed as Stock Option (Right to Buy) with an exercise price of 113.1500."

vests and becomes exercisable financial

"The option vests and becomes exercisable in equal installments on 5/5/2027, 5/5/2028, and, 5/5/2029."

FAQ

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

What insider activity did Merck (MRK) report for Dean Y. Li?

Merck reported that Executive VP & President, MRL, Dean Y. Li received new equity awards. He was granted stock options and restricted stock units as part of compensation, with all transactions classified as acquisitions rather than open-market purchases or sales.

How many stock options were granted to Merck (MRK) executive Dean Y. Li?

Dean Y. Li was granted 58,207 stock options. Each option gives him the right to buy one share of Merck common stock at an exercise price of $113.15, subject to a multi-year vesting schedule before they can be exercised.

What restricted stock units did Dean Y. Li receive from Merck (MRK)?

Dean Y. Li received 19,885 restricted stock units from Merck. Each unit represents a contingent right to receive one share of common stock, vesting in three equal installments on 5/5/2027, 5/5/2028, and 5/5/2029, when shares will be delivered.

What is the vesting schedule for Dean Y. Li’s new Merck (MRK) stock options?

The stock options granted to Dean Y. Li vest in three equal installments. They become exercisable on 5/5/2027, 5/5/2028, and 5/5/2029, allowing him gradually to exercise the options over three years if he meets the vesting conditions.

When do Dean Y. Li’s new Merck (MRK) restricted stock units vest and settle?

The restricted stock units vest and are distributed as shares in three equal installments. The scheduled dates are 5/5/2027, 5/5/2028, and 5/5/2029, aligning delivery of Merck common stock with the completion of each vesting tranche over time.

How many Merck (MRK) common shares does Dean Y. Li hold after these awards?

After these equity awards, Dean Y. Li directly holds 94,431.0500 shares of Merck common stock. This figure reflects his reported direct ownership following the grant of options and restricted stock units disclosed in the Form 4 filing.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 05/07/2026 - 12:07 PM EDT 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^*

Li Dean Y

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive VP & President, MRL

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/05/2026

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								94,431.05	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
Restricted Stock Unit	(1)	05/05/2026		A		19,885		05/05/2027(2)	05/05/2029	Common Stock	19,885	$0	19,885	D
Stock Option (Right to Buy)	$113.15	05/05/2026		A		58,207		05/05/2027(3)	05/04/2036	Common Stock	58,207	$0	58,207	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of Merck & Co., Inc. common stock.

2. These restricted stock units vest and are distributed as shares of Merck & Co., Inc. common stock in three equal installments on 5/5/2027, 5/5/2028, and, 5/5/2029.

3. The option vests and becomes exercisable in equal installments on 5/5/2027, 5/5/2028, and, 5/5/2029.

	/s/ Kelly E. W. Grez as Attorney-in-Fact for Dean Y. Li	05/07/2026
	** 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)