Zimmer Biomet (NYSE: ZBH) director adds phantom stock units under deferred plan

Rhea-AI Filing Summary

Zimmer Biomet Holdings, Inc. director Devdatt Kurdikar reported an equity-related transaction on 12/31/2025 under a deferred compensation arrangement. The filing shows the acquisition of 152.22 phantom stock units at a listed conversion or exercise price of $90.33, bringing his total directly held phantom stock units to 1,769.983.

The units were accrued under the company’s Deferred Compensation Plan for Non-Employee Directors and are designed to be settled in shares of Zimmer Biomet common stock on a 1-for-1 basis within sixty days after he ceases serving as a director. The total includes 3.876 phantom stock units that were added on October 31, 2025 through the plan’s dividend reinvestment provision.

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^*

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)
12/31/2025

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)	$90.33(2)	12/31/2025		A		152.22		(3)	(3)	Common Stock	152.22	$0	1,769.983(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. 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 3.876 phantom stock units accrued on October 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 Kurdikar (power of attorney previously filed)	01/05/2026
	** 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.
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FAQ

What insider transaction did ZIMMER BIOMET HOLDINGS, INC. (ZBH) report for Devdatt Kurdikar?

The company reported that director Devdatt Kurdikar acquired 152.22 phantom stock units on 12/31/2025 under the Zimmer Biomet Holdings, Inc. Deferred Compensation Plan for Non-Employee Directors.

How many phantom stock units does Devdatt Kurdikar now beneficially own at ZBH?

Following the reported transaction, Devdatt Kurdikar beneficially owns 1,769.983 phantom stock units, held in direct form.

What is the conversion or exercise feature of the ZBH phantom stock units reported?

The phantom stock units are to be settled in shares of Zimmer Biomet common stock on a 1-for-1 basis, as indicated by the note that the conversion or exercise price of the derivative security is 1-for-1.

When will Devdatt Kurdikars ZBH phantom stock units be settled?

The units are scheduled to be settled in shares of Zimmer Biomet common stock within sixty days after the reporting persons cessation of service as a Director.

What plan governs the phantom stock units reported in this ZBH Form 4 filing?

The phantom stock units were accrued under the Zimmer Biomet Holdings, Inc. Deferred Compensation Plan for Non-Employee Directors, which also includes a dividend reinvestment provision.

How were dividend-related phantom stock units treated in the ZBH directors holdings?

The reported holdings include 3.876 phantom stock units that accrued on October 31, 2025 under the plans dividend reinvestment provision for non-employee directors.