Pfizer (NYSE: PFE) awards CEO 708,666 stock appreciation rights

Rhea-AI Filing Summary

Pfizer Inc. reported that Chairman and CEO Albert Bourla received a grant of 708,666 stock appreciation rights on March 3, 2026. These rights were acquired as a grant or award, not through open-market purchases.

According to the disclosure, the stock appreciation rights are subject to vesting conditions and will be settled in shares of Pfizer common stock on the fifth anniversary of the grant date. After this transaction, Bourla held a total of 708,666 stock appreciation rights directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider BOURLA ALBERT

Role Chairman & CEO

Type	Security	Shares	Price	Value
Grant/Award	Stock Appreciation Rights	708,666	$0.00	--

Holdings After Transaction: Stock Appreciation Rights — 708,666 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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)
03/03/2026

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

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	$26.58	03/03/2026		A		708,666		03/03/2031(1)	03/03/2031(1)	Common Stock	708,666	$0.0000	708,666	D

Explanation of Responses:

1. The stock appreciation rights, which are subject to certain vesting requirements, will be settled in shares of Pfizer common stock on the fifth anniversary of the date of grant.

	/s/ Shanice A. Reid, by power of atty., for Albert Bourla	03/05/2026
	** 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.

FAQ

What did Pfizer (PFE) disclose about Albert Bourla in this Form 4?

Pfizer disclosed that Chairman and CEO Albert Bourla received a grant of 708,666 stock appreciation rights on March 3, 2026. These derivative awards increase his direct holdings of such rights to 708,666, reflecting equity-based compensation rather than open-market share purchases.

How many stock appreciation rights did Pfizer’s CEO receive in this transaction?

Albert Bourla received 708,666 stock appreciation rights in this transaction. The filing shows this full amount as acquired in a single grant, with his total stock appreciation rights following the transaction also reported as 708,666 held directly.

Are Albert Bourla’s new Pfizer stock appreciation rights immediately vested?

The stock appreciation rights are not immediately vested; they are subject to vesting requirements. The filing notes that these rights will be settled in shares of Pfizer common stock on the fifth anniversary of the grant date, reflecting long-term incentive compensation.

Will Albert Bourla’s stock appreciation rights be settled in Pfizer (PFE) shares?

Yes. The filing states that the stock appreciation rights will be settled in shares of Pfizer common stock. Settlement is scheduled for the fifth anniversary of the grant date, assuming vesting conditions are met, aligning the award with longer-term company performance.

Did Albert Bourla buy or sell Pfizer shares in the market in this Form 4?

No open-market buying or selling is reported in this Form 4. Instead, Albert Bourla acquired 708,666 stock appreciation rights as a grant or award, classified as a derivative security rather than a direct market transaction in Pfizer common stock.