[Form 4] ZIMMER BIOMET HOLDINGS, INC. Insider Trading Activity

Rhea-AI Filing Summary

Devdatt Kurdikar, a Director of Zimmer Biomet Holdings, Inc. (ZBH), reported on Form 4 that 140.163 phantom stock units were acquired on 09/30/2025 under the company’s Deferred Compensation Plan for Non-Employee Directors. The derivative units convert on a 1-for-1 basis into common stock and are scheduled to be settled in shares within sixty days after the director’s service ends. The report shows 1,613.887 shares of common stock beneficially owned following the reported transaction, and it notes 3.428 phantom units were added on 07/31/2025 via the plan’s dividend reinvestment provision.

Insights

Corporate Governance Analyst

Form 4 records director compensation in deferred phantom stock units and current beneficial ownership.

What it means: The filing documents non-employee director compensation that vests as phantom stock units (140.163 units on 09/30/2025) which convert 1-for-1 into common shares. These units are part of the company’s deferred compensation plan and are payable in shares within sixty days after the director stops serving.

Why it matters: Director-held deferred equity aligns a director’s economic interest with shareholders without immediate stock issuance. The filing also discloses total reported beneficial ownership of 1,613.887 shares, a fact investors can use to track insider alignment and potential future share issuance upon settlement.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Kurdikar Devdatt

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	140.163	$0.00	--

Holdings After Transaction: Phantom Stock Units — 1,613.887 shares (Direct)

Footnotes (1)

1. The phantom stock units were accrued under the Zimmer Biomet Holdings, Inc. Deferred Compensation Plan for Non-Employee Directors. The Conversion or Exercise Price of Derivative Security is 1-for-1. The units are to be settled in shares of Company common stock within sixty days after cessation of the reporting person's service as a Director. Includes 3.428 phantom stock units accrued on July 31, 2025 under the dividend reinvestment provision of the Zimmer Biomet Holdings, Inc. Deferred Compensation Plan for Non-Employee Directors.

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).

1. Name and Address of Reporting Person^*

Kurdikar Devdatt

(Last) (First) (Middle)

345 E. MAIN STREET

(Street)

WARSAW IN 45680

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ZIMMER BIOMET HOLDINGS, INC. [ ZBH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

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(1)	$98.1(2)	09/30/2025		A		140.163		(3)	(3)	Common Stock	140.163	$0	1,613.887(4)	D

Explanation of Responses:

1. The phantom stock units were accrued under the Zimmer Biomet Holdings, Inc. Deferred Compensation Plan for Non-Employee Directors.

2. The Conversion or Exercise Price of Derivative Security is 1-for-1.

3. The units are to be settled in shares of Company common stock within sixty days after cessation of the reporting person's service as a Director.

4. Includes 3.428 phantom stock units accrued on July 31, 2025 under the dividend reinvestment provision of the Zimmer Biomet Holdings, Inc. Deferred Compensation Plan for Non-Employee Directors.

	/s/ Matthew R. St. Louis, Attorney-in-Fact for Devdatt Kuridkar (power of attorney previously filed)	10/02/2025
	** 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 did Devdatt Kurdikar report on the Form 4 for ZBH?

He reported acquisition of 140.163 phantom stock units on 09/30/2025 under the Deferred Compensation Plan for Non-Employee Directors.

How do the phantom stock units convert for ZBH director compensation?

The units convert on a 1-for-1 basis into common stock and are to be settled in shares within sixty days after cessation of the director's service.

How many shares does the Form 4 show as beneficially owned after the transaction?

The filing shows 1,613.887 shares of common stock beneficially owned following the reported transaction.

Did dividend reinvestment affect the phantom units?

Yes. The filing states 3.428 phantom stock units were accrued on 07/31/2025 under the plan's dividend reinvestment provision.

When was the Form 4 signed and filed?

The Form 4 is signed by Matthew R. St. Louis, Attorney-in-Fact for Devdatt Kurdikar and dated 10/02/2025.