[Form 4] PFIZER INC Insider Trading Activity

Rhea-AI Filing Summary

Albert Bourla, Pfizer's Chairman & CEO and a director, reported a transaction dated 09/15/2025 on a Form 4. He acquired 25 phantom stock units under the Pfizer Inc. Nonfunded Deferred Compensation and Supplemental Savings Plan; each unit represents one phantom share and is settled in cash following separation from service. The report shows the units are tied to 25 underlying common shares at a reference price of $23.97. Following the reported transaction, the filing shows 730,907 shares beneficially owned in a direct form. The Form 4 was signed on behalf of Mr. Bourla by power of attorney on 09/17/2025.

Insights

Corporate Governance Expert

TL;DR: Minor deferred-compensation acquisition by the CEO; procedural and disclosure norms were followed.

The filing documents a small grant of 25 phantom stock units under Pfizer's deferred compensation plan that are cash-settled at separation. This is a routine executive compensation event rather than an equity issuance or stock sale. Disclosure is complete for the transaction date, quantity, plan vehicle, settlement terms, and resulting direct beneficial ownership. There is no indication of exercise, sale, or material change to control. For governance review, this fits standard deferred-comp arrangements and presents no immediate governance concern based on the information provided.

Compensation Analyst

TL;DR: A small deferred-comp increment with cash settlement; immaterial to company capitalization or executive stake.

The 25 phantom units reflect participation in the company's supplemental savings plan and are cash-settled, which means they do not dilute shareholders or change outstanding share count. The reported reference price ($23.97) clarifies valuation accounting for the units. The incremental change to Mr. Bourla's beneficial ownership is trivial relative to his total reported holdings (730,907 shares), indicating no material shift in alignment or insider exposure from this single transaction.

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^*

BOURLA ALBERT

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman & CEO

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

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

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 SSP	(1)	09/15/2025		A		25		(2)	(2)	Common Stock	25	$23.97	730,907	D

Explanation of Responses:

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

2. These units, which were acquired pursuant to the Pfizer Inc. Nonfunded Deferred Compensation and Supplemental Savings Plan, are settled in cash following the reporting person's separation from service and may be transferred by the reporting person into an alternative investment account at any time.

	/s/ Shanice A. Reid, by power of atty., for Albert Bourla	09/17/2025
	** 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.

FAQ

Who filed the Form 4 for PFE and what is their role?

Albert Bourla, Pfizer's Chairman & CEO and director, is the reporting person shown on the Form 4.

What transaction did Albert Bourla report on the 09/15/2025 Form 4 for PFE?

He acquired 25 phantom stock units under Pfizer's Nonfunded Deferred Compensation and Supplemental Savings Plan on 09/15/2025.

How are the phantom stock units settled and what do they represent?

Each unit represents one phantom share and the units are settled in cash following separation from service; they may be transferred to an alternative investment account at any time.

What price and underlying shares are reported for the units?

The filing shows 25 underlying common shares tied to the units with a reference price of $23.97.

What is Albert Bourla's beneficial ownership after this transaction?

The Form 4 reports 730,907 shares beneficially owned in a direct form following the reported transaction.