Pfizer EVP exercises stock appreciation rights

Pfizer Inc. Executive Vice President Douglas M. Lankler settled stock-based compensation tied to stock appreciation rights on February 25, 2026.

Rhea-AI Filing Summary

Pfizer Inc. Executive Vice President Douglas M. Lankler settled stock-based compensation tied to stock appreciation rights on February 25, 2026. He exercised 122,907 stock appreciation rights, receiving the same number of Pfizer common shares at a reference price of $33.82 per share.

To cover related tax obligations and exercise price, 2,198 shares were withheld at $27.09 per share and 116,811 shares were withheld at $26.92 per share. Following these transactions, he held 163,177 shares of Pfizer common stock directly and 2,083 shares indirectly through a Rule 16b-3 plan.

Insider Trade Summary

122,907 shares exercised/converted

Exercise 5 txns

Insider LANKLER DOUGLAS M

Role Executive Vice President

Type	Security	Shares	Price	Value
Exercise	Stock Appreciation Rights	122,907	$0.00	$0.00
Exercise	Common Stock	122,907	$33.82	$4.16M
Exercise Price or Tax Liability	Common Stock	2,198	$27.09	$60K
Exercise Price or Tax Liability	Common Stock	116,811	$26.92	$3.14M
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Appreciation Rights — 0 contracts (Direct); Common Stock — 163,177 shares (Direct); Common Stock — 2,083 shares (Indirect, By Rule 16b-3 Plan)

Footnotes (4)

1. F1. The reported transaction constitutes the earn-out of stock appreciation rights (including dividend equivalents thereon).
2. F2. The reported transaction constitutes the withholding of shares to satisfy tax obligations in connection with earn-out of stock appreciation rights.
3. F3. The reported transaction constitutes the withholding of shares to cover payment of exercise price in connection with earn-out of stock appreciation rights (including dividend equivalents thereon).
4. F4. Under the terms of the settlement of the stock appreciation rights the 20-day average of the closing prices of Pfizer common stock ending on the settlement date is used.

FAQ

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

What insider transaction did Pfizer (PFE) report for Douglas M. Lankler?

Pfizer reported that Executive Vice President Douglas M. Lankler settled stock appreciation rights on February 25, 2026. He exercised 122,907 stock appreciation rights into an equal number of common shares as part of his equity compensation, with shares withheld for taxes and exercise price.

How many Pfizer (PFE) stock appreciation rights did the EVP exercise?

Douglas M. Lankler exercised 122,907 stock appreciation rights, receiving 122,907 shares of Pfizer common stock. The transaction reflects the earn-out of these rights, including dividend equivalents, based on a 20-day average closing price formula specified in the stock appreciation rights settlement.

Were any Pfizer (PFE) shares sold in the open market by the EVP?

The filing shows no open-market sales. Instead, 2,198 shares and 116,811 shares of Pfizer common stock were withheld to satisfy tax obligations and the exercise price related to the stock appreciation rights earn-out, as described in the transaction footnotes.

What are Douglas M. Lankler’s Pfizer (PFE) share holdings after these transactions?

After the February 25, 2026 transactions, Douglas M. Lankler directly held 163,177 shares of Pfizer common stock. He also indirectly held 2,083 shares through a Rule 16b-3 plan, according to the ownership details disclosed in the Form 4 filing.

What prices were used to value the Pfizer (PFE) tax-withholding share transactions?

The filing reports that 2,198 shares were withheld at a price of $27.09 per share and 116,811 shares were withheld at $26.92 per share. A footnote explains that a 20-day average of Pfizer’s closing prices determined the stock appreciation rights settlement terms.

Is the Pfizer (PFE) Form 4 for Douglas M. Lankler a routine compensation event?

The Form 4 describes the earn-out and settlement of stock appreciation rights, with shares withheld for taxes and exercise price. Such transactions are typically associated with equity compensation programs rather than discretionary trading decisions in the open market.

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 02/27/2026 - 06:35 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^*

LANKLER DOUGLAS M

(Last) (First) (Middle)

66 HUDSON BOULEVARD EAST

ATTN: CORPORATE SECRETARY

(Street)

NEW YORK NY 10001-2192

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PFIZER INC [ PFE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Vice President

3. Date of Earliest Transaction (Month/Day/Year)
02/25/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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	02/25/2026		M		122,907(1)	A	$33.82	282,186	D
Common Stock	02/25/2026		F		2,198(2)	D	$27.09	279,988	D
Common Stock	02/25/2026		F		116,811(3)	D	$26.92(4)	163,177	D
Common Stock								2,083	I	By Rule 16b-3 Plan

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
Stock Appreciation Rights	$33.82	02/25/2026		M			122,907	02/25/2026	02/25/2026	Common Stock	122,907	$0.0000	0.0000	D

Explanation of Responses:

1. The reported transaction constitutes the earn-out of stock appreciation rights (including dividend equivalents thereon).

2. The reported transaction constitutes the withholding of shares to satisfy tax obligations in connection with earn-out of stock appreciation rights.

3. The reported transaction constitutes the withholding of shares to cover payment of exercise price in connection with earn-out of stock appreciation rights (including dividend equivalents thereon).

4. Under the terms of the settlement of the stock appreciation rights the 20-day average of the closing prices of Pfizer common stock ending on the settlement date is used.

	/s/ Shanice A. Reid, by power of atty, for Douglas M. Lankler	02/25/2026
	** 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.