Pfizer director acquires 1,744 deferred stock units

The deferred compensation units are settled in cash or common stock at the director’s election following retirement from the board.

Rhea-AI Filing Summary

Pfizer Inc. director Shantanu Narayen acquired 1,743.9830 Phantom Stock Units on September 25, 2026; the transaction lists $28.6700 per unit. The units represent deferred director's compensation, including dividend equivalents. Their terms provide for settlement in cash or common stock at his election following retirement from the Board. Narayen directly held 205,648.8230 Phantom Stock Units after the transaction.

Insider Trade Summary

Grant/Award: 1,743.983 shares

Grant/Award 1 txn

Insider NARAYEN SHANTANU

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units F1, F2	1,743.983	$28.67	$50K

Holdings After Transaction: Phantom Stock Units — 205,648.823 contracts (Direct)

Footnotes (2)

1. F1. Each unit represents one phantom share of common stock.
2. F2. These units represent deferred director's compensation (including dividend equivalents thereon) that are settled in cash or common stock at the director's election following the reporting person's retirement from the Board of Directors.

Key Figures

Phantom Stock Units acquired: 1,743.9830 units Reported price per unit: $28.6700 per unit Phantom Stock Units held after transaction: 205,648.8230 units +1 more

4 metrics

Phantom Stock Units acquired 1,743.9830 units September 25, 2026

Reported price per unit $28.6700 per unit Phantom Stock Units transaction

Phantom Stock Units held after transaction 205,648.8230 units Direct holdings following the transaction

Common-stock equivalent 1 phantom share per unit Each Phantom Stock Unit

Key Terms

Phantom Stock Units, deferred director's compensation, dividend equivalents

3 terms

Phantom Stock Units financial

"Each unit represents one phantom share of common stock."

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.

deferred director's compensation financial

"These units represent deferred director's compensation"

dividend equivalents financial

"including dividend equivalents thereon"

Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.

FAQ

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

How many Phantom Stock Units did PFE director Shantanu Narayen acquire?

Shantanu Narayen acquired 1,743.9830 Phantom Stock Units on September 25, 2026. The transaction lists $28.6700 per unit, and his directly held position after the transaction was 205,648.8230 Phantom Stock Units.

What does one PFE Phantom Stock Unit represent?

Each Phantom Stock Unit represents one phantom share of common stock. The units are deferred director's compensation, including dividend equivalents, and are settled in cash or common stock at the director’s election following retirement from the Board of Directors.

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

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Available on EDGAR 09/29/2026 - 02:25 PM Accepted by SEC EDGAR 09/29/2026 - 02:25 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^*

NARAYEN SHANTANU

(Last) (First) (Middle)

66 HUDSON BOULEVARD EAST

ATTN: CORPORATE SECRETARY

(Street)

NEW YORK NEW YORK 10001-2192

(City) (State) (Zip)

UNITED STATES

(Country)

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

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)
09/25/2026

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

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 Units	(1)	09/25/2026		A		1,743.983		(2)	(2)	Common Stock	1,743.983	$28.67	205,648.823	D

Explanation of Responses:

1. Each unit represents one phantom share of common stock.

2. These units represent deferred director's compensation (including dividend equivalents thereon) that are settled in cash or common stock at the director's election following the reporting person's retirement from the Board of Directors.

	/s/ Shanice A. Reid, by power of atty., for Shantanu Narayen	09/29/2026
	** 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)