[Form 4] Pfizer Inc. Insider Trading Activity

Rhea-AI Filing Summary

Albert Bourla, Chairman & CEO of Pfizer Inc. (PFE), acquired 24 phantom stock units on 08/29/2025 under the Pfizer Inc. Nonfunded Deferred Compensation and Supplemental Savings Plan. Each unit represents one phantom share of common stock and these units are settled in cash upon the reporting persons separation from service or may be transferred into an alternative investment account at any time. The filing shows a transaction price of $24.76 per unit and reports 730,806 shares beneficially owned following the transaction. The Form 4 was signed on 09/03/2025 by counsel Shanice A. Reid on behalf of Mr. Bourla.

Insights

Corporate Governance Expert

TL;DR: Routine executive compensation grant of deferred, cash-settled phantom units; standard governance disclosure with limited investor impact.

This Form 4 documents a small grant of 24 phantom stock units to the CEO under an existing deferred compensation plan. The units are cash-settled at separation or convertible into alternative investments, which is customary for non-qualified deferred compensation. The transaction is disclosed in accordance with Section 16 reporting requirements and does not indicate any change in executive role or extraordinary compensation terms. Given the small quantity relative to total outstanding shares, the disclosure is procedural and not materially dilutive.

Executive Compensation Analyst

TL;DR: Small deferred award recorded; structure favors retention and deferred payout rather than immediate equity dilution.

The 24 phantom units are symbolic in size and are intended to provide deferred, cash-settled value tied to Pfizers common stock. The stated price of $24.76 documents the per-unit valuation for disclosure purposes. This form confirms plan mechanics and settlement terms without revealing a new long-term incentive design or performance metric. For compensation benchmarking, this is a routine, non-material issuance under an existing plan.

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

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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)
08/29/2025

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)	08/29/2025		A		24		(2)	(2)	Common Stock	24	$24.76	730,806	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	09/03/2025
	** 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 report on the Form 4 for PFE?

The filing reports acquisition of 24 phantom stock units on 08/29/2025 under Pfizers Nonfunded Deferred Compensation and Supplemental Savings Plan.

How are the phantom stock units settled according to the Form 4?

The units are settled in cash following separation from service and may be transferred by the reporting person into an alternative investment account at any time.

What price is shown for the phantom units in the Form 4?

The transaction lists a price of $24.76 per unit.

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

The Form 4 reports 730,806 shares beneficially owned following the reported transaction.

When was the Form 4 signed and by whom?

The form was signed on 09/03/2025 by Shanice A. Reid by power of attorney for Albert Bourla.