[Form 4] Pfizer Inc. Insider Trading Activity

Rhea-AI Filing Summary

Albert Bourla, Pfizer Inc. Chairman & CEO, acquired 24 phantom stock units on 08/15/2025. Each unit represents one phantom share of common stock and the units were granted under the Pfizer Inc. Nonfunded Deferred Compensation and Supplemental Savings Plan. The units are settled in cash following the reporting person's separation from service and may be transferred into an alternative investment account at any time. Following the reported transaction, the reporting person beneficially owns 730,477 shares (direct).

Positive

• Disclosure of executive grant provides transparency on CEO compensation mechanics
• 24 phantom units granted under the Nonfunded Deferred Compensation and Supplemental Savings Plan, clarifying settlement and transferability
• Reporting shows 730,477 shares beneficially owned following the transaction, confirming scale of existing ownership

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine executive compensation grant; small incremental holding added, settled in cash at separation.

The Form 4 discloses a grant of 24 phantom stock units to Albert Bourla under Pfizer's deferred compensation and supplemental savings plan. These units are non-equity, cash-settled instruments that track common stock value and convert on separation from service. The filing shows 730,477 shares beneficially owned following the transaction, filed individually by the reporting person. The disclosure is standard for executive deferred-compensation activity and does not signal a change in control or equity dilution.

Compensation Analyst

TL;DR: Modest deferred-compensation award; no immediate cash flow or stock issuance.

The reported 24 phantom units are awarded pursuant to Pfizer's Nonfunded Deferred Compensation and Supplemental Savings Plan and are cash-settled upon separation. The Form 4 lists an attributable per-unit price of $25.14, indicating the economic value recorded for the grant. Because these are phantom units (cash-settled) and the amount is small relative to total beneficial ownership, the grant represents routine compensation mechanics rather than a material shift in ownership.

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)
08/15/2025

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)	08/15/2025		A		24		(2)	(2)	Common Stock	24	$25.14	730,477	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	08/19/2025
	** 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

What did Albert Bourla acquire according to the Form 4 for PFE?

He acquired 24 phantom stock units on 08/15/2025 under Pfizer's deferred compensation plan.

How many shares does Albert Bourla beneficially own after the reported transaction?

The Form 4 reports 730,477 shares beneficially owned following the reported transaction, held directly (D).

What is the economic treatment of the phantom stock units in this filing?

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

Under which plan were the phantom units granted?

The units were acquired pursuant to the Pfizer Inc. Nonfunded Deferred Compensation and Supplemental Savings Plan.

What price is reported for the derivative/phantom units?

The filing indicates a per-unit price of $25.14 associated with the 24 phantom units.