Pfizer (PFE) director Echevarria granted 1,710 Phantom Stock Units as deferred pay

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Echevarria Joseph reported acquisition or exercise transactions in this Form 4 filing.

Pfizer Inc. director Joseph Echevarria received a grant of 1,710.429 Phantom Stock Units tied to Pfizer common stock. Each unit represents one phantom share of common stock and was valued at $27.04 per unit on the grant date. After this award, his reported phantom unit balance increased to 153,398.145 units. These units represent 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 of Directors.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Echevarria Joseph

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	1,710.429	$27.04	$46K

Holdings After Transaction: Phantom Stock Units — 153,398.145 shares (Direct)

Footnotes (1)

Each unit represents one phantom share of common stock. 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 Stock Units granted: 1,710.429 units Grant value per unit: $27.04 per unit Total phantom units after grant: 153,398.145 units +1 more

4 metrics

Phantom Stock Units granted 1,710.429 units Grant of deferred director compensation on March 27, 2026

Grant value per unit $27.04 per unit Reference price for Phantom Stock Unit award

Total phantom units after grant 153,398.145 units Director’s reported Phantom Stock Unit balance following transaction

Underlying common stock equivalent 1,710.429 shares Each Phantom Stock Unit represents one phantom common share

Key Terms

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

3 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

"deferred director's compensation (including dividend equivalents thereon) that are settled in cash or common stock"

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.

Form 4 Insider Transactions: What Each Field Means →

03/30/2026 - 08:19 PM

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

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)
03/27/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock Units	⁽¹⁾	03/27/2026		A		1,710.429		⁽²⁾	⁽²⁾	Common Stock	1,710.429	$27.04	153,398.145	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	03/30/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Pfizer (PFE) director Joseph Echevarria report in this Form 4?

He reported receiving 1,710.429 Phantom Stock Units as a grant of deferred director compensation. Each unit tracks one Pfizer common share and increases his total phantom units to 153,398.145, to be settled after he retires from Pfizer’s Board of Directors.

What are Phantom Stock Units in Pfizer (PFE)’s director compensation?

Pfizer’s Phantom Stock Units are deferred compensation instruments where each unit represents one phantom share of common stock. They accumulate value and dividend equivalents, and are ultimately settled in cash or common stock at the director’s election after leaving the Board, rather than being traded in the market.

How many Phantom Stock Units does Joseph Echevarria hold after this Pfizer (PFE) grant?

After this grant, Joseph Echevarria holds 153,398.145 Phantom Stock Units. This total includes previously accumulated deferred director compensation plus the new 1,710.429-unit award, all of which will be settled following his retirement from Pfizer’s Board of Directors.

Was this Pfizer (PFE) Form 4 a stock purchase or sale by Joseph Echevarria?

No, the Form 4 reflects a grant of Phantom Stock Units as compensation, not an open-market stock purchase or sale. The award is classified as an acquisition under code A and will ultimately be settled in cash or common stock after his Board service ends.

At what value were Joseph Echevarria’s Pfizer (PFE) Phantom Stock Units granted?

The 1,710.429 Phantom Stock Units were granted at a reference value of $27.04 per unit. This value is used to determine the size of the compensation grant, with each unit representing one phantom share that tracks Pfizer’s common stock performance over time.