[Form 4] Pfizer Inc. Insider Trading Activity

Rhea-AI Filing Summary

Form 4 snapshot: On 06/30/2025, Pfizer Inc. (PFE) Chairman & CEO Albert Bourla was credited with 25 Phantom Stock Units at a reference price of $24.24 under the company’s Non-funded Deferred Compensation and Supplemental Savings Plan (SSP). Each unit mirrors one share of Pfizer common stock but will be settled in cash after the executive’s separation from service and can be reallocated to other plan investments at any time.

After this routine accrual, Bourla’s total phantom-unit balance stands at 718,220 units. The filing discloses no open-market purchases or sales of Pfizer common stock, and there is no change to his direct share ownership.

Given the immaterial size of the grant (25 units) and its deferred-compensation nature, the transaction is considered administrative and non-market-moving. Investors should view the disclosure as a standard update required by Section 16 rather than a signal of management’s near-term view on Pfizer’s share price.

Insights

Financial Analyst

TL;DR: Small, cash-settled phantom stock credit; no market trades; neutral for valuation.

The 25-unit addition is immaterial (<1 % of Bourla’s existing 718k phantom units) and involves no exchange of cash or common shares today. Because the units settle only upon separation and do not confer voting rights, the filing neither tightens nor loosens insider alignment in the short term. There is no read-through for earnings, cash flow or capital allocation, so the market impact should be negligible.

Corporate Governance Expert

TL;DR: Routine deferred-comp grant, signals continued use of SSP, governance neutral.

Phantom stock within a non-funded plan is a typical tool to align executives with shareholders over the long horizon while deferring tax. The token 25-unit credit indicates ongoing salary deferral rather than an incentive shift. No new performance conditions or special board actions are disclosed, suggesting governance status quo. Overall, the filing carries no red flags and maintains standard transparency under Section 16.

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)
06/30/2025

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)	06/30/2025		A		25		(2)	(2)	Common Stock	25	$24.24	718,220	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	07/02/2025
	** 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 insider activity did Pfizer (PFE) report on the July 2 2025 Form 4?

CEO Albert Bourla received 25 Phantom Stock Units on 06/30/2025 under Pfizer’s Supplemental Savings Plan.

Were any Pfizer common shares bought or sold by the CEO?

No. No open-market purchases or sales of Pfizer common stock were reported in this filing.

How many phantom stock units does Albert Bourla now hold?

Following the transaction, Bourla’s phantom unit balance is 718,220 units.

What is a phantom stock unit in Pfizer’s SSP?

Each unit tracks one Pfizer share but is settled in cash after the executive leaves the company; it carries no voting rights.

Does the filing indicate a change in Pfizer’s executive compensation structure?

No. The credit appears to be a routine deferred-compensation accrual with no new performance terms disclosed.