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Pfizer (NYSE: PFE) awards Narayen 7,686 phantom stock units

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Pfizer Inc. director Shantanu Narayen received a grant of 7,686.539 Phantom Stock Units on common stock-equivalent terms. The award was made at a reference value of $26.67 per unit and is classified as a grant or award acquisition rather than an open-market purchase.

Following this grant, Narayen holds a total of 195,611.680 Phantom Stock Units directly. Each unit represents one phantom share of Pfizer common stock and was granted under the Pfizer Inc. Nonfunded Deferred Compensation and Unit Award Plan for Non-Employee Directors. These units reflect deferred director compensation that will be settled in cash or common stock, at Narayen’s election, after his retirement from the Board.

Positive

  • None.

Negative

  • None.
Insider NARAYEN SHANTANU
Role null
Type Security Shares Price Value
Grant/Award Phantom Stock Units 7,686.539 $26.67 $205K
Holdings After Transaction: Phantom Stock Units — 195,611.68 shares (Direct, null)
Footnotes (1)
  1. Each unit represents one phantom share of common stock. Granted pursuant to the Pfizer Inc. Nonfunded Deferred Compensation and Unit Award Plan for Non-Employee Directors. These units represent deferred director's compensation that are settled in cash or common stock at the director's election, following the reporting person's retirement from the Board of Directors.
Phantom Stock Units granted 7,686.539 units Grant to Shantanu Narayen on 2026-04-23
Reference price per unit $26.67 per unit Value used for the Phantom Stock Unit grant
Total Phantom Stock Units after grant 195,611.680 units Narayanen’s Phantom Stock Unit holdings following the transaction
Underlying security shares 7,686.539 shares Common stock-equivalent shares underlying the Phantom Stock Units
Phantom Stock Units financial
"security_title: "Phantom Stock Units""
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.
Nonfunded Deferred Compensation and Unit Award Plan for Non-Employee Directors financial
"Granted pursuant to the Pfizer Inc. Nonfunded Deferred Compensation and Unit Award Plan for Non-Employee Directors."
deferred director's compensation financial
"These units represent deferred director's compensation that are settled in cash or common stock at the director's election"
Common Stock financial
"underlying_security_title: "Common Stock""
Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/23/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Stock Units(1)04/23/2026A7,686.539(2) (3) (3)Common Stock7,686.539$26.67195,611.68D
Explanation of Responses:
1. Each unit represents one phantom share of common stock.
2. Granted pursuant to the Pfizer Inc. Nonfunded Deferred Compensation and Unit Award Plan for Non-Employee Directors.
3. These units represent deferred director's compensation 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 Narayen04/27/2026
** Signature of Reporting PersonDate
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 did Pfizer (PFE) director Shantanu Narayen report in this Form 4?

Shantanu Narayen reported receiving 7,686.539 Phantom Stock Units tied to Pfizer common stock. The grant is classified as a compensation-related award, not an open-market share purchase, and increased his total Phantom Stock Unit holdings to 195,611.680 units following the transaction.

Are the Pfizer (PFE) Phantom Stock Units a market purchase or compensation grant?

The 7,686.539 Pfizer Phantom Stock Units are a compensation grant, not a market purchase. They were awarded under Pfizer’s Nonfunded Deferred Compensation and Unit Award Plan for Non-Employee Directors as part of Narayen’s director compensation rather than a discretionary stock buy.

How are Shantanu Narayen’s Pfizer (PFE) Phantom Stock Units ultimately settled?

The Phantom Stock Units represent deferred director compensation that will be settled in cash or Pfizer common stock. Settlement occurs at Narayen’s election after he retires from Pfizer’s Board of Directors, aligning payout with his post-service timing preferences under the plan’s rules.

What does each Pfizer (PFE) Phantom Stock Unit represent for Shantanu Narayen?

Each Phantom Stock Unit represents one phantom share of Pfizer common stock for accounting and compensation purposes. While not immediately delivering actual shares, the units track the value of Pfizer stock and are designed to mirror common stock value when ultimately settled after Board retirement.

How large is Shantanu Narayen’s total Phantom Stock Unit position in Pfizer (PFE)?

After the reported grant, Narayen holds 195,611.680 Phantom Stock Units linked to Pfizer common stock. This total includes the newly awarded 7,686.539 units and reflects his accumulated deferred director compensation position within Pfizer’s non-employee director compensation framework.