Merck (MRK) director Seidman receives phantom stock award and reports 100 shares

Filing Impact

(Moderate)

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 compensation-related change in her holdings. She received an award of 1,853.0997 phantom stock units tied to Merck common stock at a reference price of $118.72 per unit. After this grant, her phantom stock balance is 21,228.0394 units, which will be settled 100% in cash after her service ends under the company’s deferred compensation plan. Separately, she reports holding 100 shares of Merck common stock directly, including shares accumulated through dividend reinvestment.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Seidman Christine E

Role null

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	1,853.1	$118.72	$220K
holding	Common Stock	--	--	--

Holdings After Transaction: Phantom Stock — 21,228.039 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. Holdings include shares acquired in dividend reinvestment transactions.

Key Figures

Phantom stock units granted: 1,853.0997 units Reference price per phantom unit: $118.72 per unit Total phantom stock holdings: 21,228.0394 units +2 more

5 metrics

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

Reference price per phantom unit $118.72 per unit Price per phantom stock unit for the new award

Total phantom stock holdings 21,228.0394 units Phantom stock units following the reported grant

Common stock holdings 100 shares Direct Merck common shares reported as holdings

Settlement type 100% in cash Phantom stock units settled in cash upon termination of service

Key Terms

Phantom stock units, Plan for Deferred Payment of Directors' Compensation, dividend reinvestment transactions, Grant, award, or other acquisition

4 terms

Phantom stock units financial

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

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

"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"

Grant, award, or other acquisition financial

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

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Form 4 Insider Transactions: What Each Field Means →

06/02/2026 - 02:19 PM

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)
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)
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⁾	05/29/2026		A		1,853.0997		⁽²⁾	⁽²⁾	Common Stock	1,853.0997	$118.72	21,228.0394⁽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 Christine E. Seidman	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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Merck (MRK) director Christine Seidman report?

Christine Seidman reported receiving 1,853.0997 phantom stock units as compensation. These units are linked to Merck’s common stock value and increase her total phantom stock holdings to 21,228.0394 units, in addition to 100 directly held common shares.

Is the Merck (MRK) Form 4 transaction an open-market buy or sell?

The Form 4 does not show an open-market buy or sell. It reports a grant of phantom stock units as compensation and a holdings line for 100 common shares, rather than a discretionary purchase or sale in the open market.

How many Merck (MRK) phantom stock units does Christine Seidman now hold?

Following the reported grant, Christine Seidman holds 21,228.0394 phantom stock units. This total includes the new 1,853.0997-unit award and units previously accumulated, with some acquired through dividend reinvestment under Merck’s compensation and deferral arrangements.

How will Merck (MRK) phantom stock units reported by Christine Seidman be settled?

The phantom stock units will be settled 100% in cash upon Christine Seidman’s termination of service. The cash payout will follow a distribution schedule elected under Merck’s Plan for Deferred Payment of Directors’ Compensation, rather than being settled in actual shares.

What common stock holdings does the Merck (MRK) Form 4 show for Christine Seidman?

The filing shows that Christine Seidman directly holds 100 shares of Merck common stock. The footnotes indicate these holdings include shares acquired through dividend reinvestment transactions, reflecting automatic reinvestment of cash dividends into additional shares.

What does the transaction code on the Merck (MRK) phantom stock award indicate?

The phantom stock award uses transaction code A, indicating a grant, award, or other acquisition. This means the units were received as part of a compensation arrangement, not bought in the market, and are classified as a derivative-type holding linked to Merck’s common stock.