Danaher Director Raymond C. Stevens Receives Phantom Shares via Deferred Compensation

Executive Summary

On November 2, 2026, Danaher Corporation ($DHR) filed a Form 4 reporting that Director Raymond C. Stevens acquired 152.741 phantom shares on October 30, 2026. The transaction was priced at $232.23 per share, representing an aggregate value of approximately $35,471.04. Following the acquisition, Dr. Stevens directly holds 7,580.576 phantom shares.

Transaction Analysis

• Structure & Purpose: The phantom shares were credited pursuant to the terms of Danaher's Non-Employee Directors Deferred Compensation Plan established under the Danaher Corporation Omnibus Incentive Plan. Under this plan, non-employee directors can elect to defer cash board fees into notional shares of Danaher common stock based on the closing stock price on the quarterly payment date.
• Settlement Terms: Upon distribution, the phantom shares convert into shares of Danaher common stock on a one-for-one basis. The reporting person is fully vested in all deferred amounts.
• Significance: This is a routine quarterly compensation deferral rather than an open-market purchase or sale. Consequently, it carries low trading significance and reflects ongoing alignment of director fees with shareholder value.