Pfizer director granted 1,904 phantom stock units

Pfizer Inc. director Joseph Echevarria received a grant of phantom stock units as deferred compensation.

Accepted by SEC EDGAR 06/30/2026 - 03:18 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Pfizer Inc. director Joseph Echevarria received a grant of phantom stock units as deferred compensation. On this award date, he acquired 1,904.076 phantom stock units at a reference price of $24.2900 per unit, each unit representing one phantom share of common stock.

The units reflect deferred director compensation, including dividend equivalents, and will be settled in cash or Pfizer common stock at his election after he retires from the Board. Following this grant, his balance in these phantom stock units increased to 165,631.508 units, indicating this is part of an ongoing deferred compensation program rather than an open-market trade.

Insider Trade Summary

Grant/Award: 1,904.076 shares

Grant/Award 1 txn

Insider Echevarria Joseph

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	1,904.076	$24.29	$46K

Holdings After Transaction: Phantom Stock Units — 165,631.508 contracts (Direct)

Holdings Before and After: Phantom Stock Units, 163,727.432 to 165,631.508 contracts (Direct)

Footnotes (2)

1. F1. Each unit represents one phantom share of common stock.
2. F2. These units represent deferred director's compensation (including dividend equivalents thereon) that are settled in cash or common stock at the director's election following the reporting person's retirement from the Board of Directors.

Key Figures

Phantom units granted: 1,904.076 units Reference price per unit: $24.2900 per unit Total phantom units after grant: 165,631.508 units +1 more

4 metrics

Phantom units granted 1,904.076 units Grant of phantom stock units to director

Reference price per unit $24.2900 per unit Value used for phantom stock unit grant

Total phantom units after grant 165,631.508 units Director’s balance in phantom stock units following transaction

Underlying common shares 1,904.076 shares Common stock underlying the new phantom units

Key Terms

Phantom Stock Units, deferred director's compensation, dividend equivalents, underlying security

4 terms

Phantom Stock Units financial

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

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.

deferred director's compensation financial

"These units represent deferred director's compensation (including dividend equivalents thereon)..."

dividend equivalents financial

"These units represent deferred director's compensation (including dividend equivalents thereon)..."

Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.

underlying security financial

"underlying security title is Common Stock with 1,904.076 underlying shares."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Pfizer (PFE) report for Joseph Echevarria?

Pfizer reported a grant of phantom stock units to director Joseph Echevarria. He was awarded 1,904.076 phantom stock units as deferred director compensation, tied to a reference price of $24.2900 per unit, increasing his total phantom unit balance to 165,631.508.

What are the phantom stock units granted to the Pfizer (PFE) director?

Each phantom stock unit represents one phantom share of Pfizer common stock. These units track the value of the stock but are not actual shares. They form part of deferred director compensation that may include dividend equivalents on the underlying common stock value.

How and when will Joseph Echevarria’s Pfizer (PFE) phantom units be settled?

The phantom stock units will be settled after Echevarria retires from Pfizer’s Board. At that time, he can elect to receive settlement in either cash or Pfizer common stock, making this a long-term, deferred compensation arrangement rather than an immediate stock transaction.

What was the size of the latest phantom stock grant to the Pfizer (PFE) director?

The latest grant to Joseph Echevarria was 1,904.076 phantom stock units. The award used a reference price of $24.2900 per unit and increased his total phantom stock unit holdings to 165,631.508, reflecting accumulated deferred compensation over time.

Does the Pfizer (PFE) phantom stock grant involve open-market buying or selling?

No, this transaction is a compensation grant, not an open-market trade. The Form 4 describes a grant or award acquisition of phantom stock units as deferred director compensation, with settlement in cash or common stock following the director’s retirement from the Board.

What underlying security is associated with the Pfizer (PFE) phantom stock units?

The phantom stock units are tied to Pfizer common stock as the underlying security. The filing notes 1,904.076 underlying common shares linked to the same number of phantom units, aligning the deferred compensation value with Pfizer’s common stock performance over time.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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^*

Echevarria Joseph

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/26/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			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	(1)	06/26/2026		A		1,904.076		(2)	(2)	Common Stock	1,904.076	$24.29	165,631.508	D

Explanation of Responses:

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

2. These units represent deferred director's compensation (including dividend equivalents thereon) 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 Joseph J. Echevarria	06/30/2026
	** 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.
* Form 4: SEC 1474 (03-26)