Merck & Co. Director Surendralal L. Karsanbhai Acquires Phantom Stock Under Deferred Compensation Plan

Merck & Co., Inc. ($MRK) Form 4 Analysis

Overview

On October 1, 2026, Merck & Co., Inc. filed a Form 4 disclosing that director Surendralal L. Karsanbhai acquired 111.8299 units of Phantom Stock on September 30, 2026 at a price of $145.31 per share, representing a total value of approximately $16,250.00.

Transaction Details

• Security: Phantom Stock (settled 1-for-1 in cash upon termination of service)
• Transaction Code: A (Grant, award, or other acquisition)
• Shares Acquired: 111.8299 units
• Price: $145.31
• Post-Transaction Derivative Holdings: 5,667.0117 phantom units (direct ownership)
• Direct Common Stock Holdings: 1 share

Context and Significance

This acquisition was conducted pursuant to Merck's Plan for Deferred Payment of Directors' Compensation, under which board members routinely receive phantom stock credited in lieu of cash retainer fees. Because this represents standard director compensation deferral rather than an open-market purchase or discretionary investment decision, the trading significance is rated Low.