Zimmer Biomet Director Arthur Higgins Accrues Phantom Stock Under Deferred Comp Plan

Executive Summary

On October 2, 2026, Zimmer Biomet Holdings, Inc. ($ZBH) filed a Form 4 detailing an acquisition of phantom stock units by Director Arthur J. Higgins. The transaction took place on September 30, 2026, and represents an accrual of 306.066 phantom stock units under the company's Deferred Compensation Plan for Non-Employee Directors.

Key Transaction Details

• Insider: Arthur J. Higgins (Director)
• Security: Phantom Stock Units (convertible 1-for-1 to common stock value)
• Transaction Type: Grant/Award (Code A)
• Units Acquired: 306.066
• Transaction Price: $0.00 (with an underlying conversion/exercise reference price of $89.85 per unit)
• Post-Transaction Beneficial Ownership: 38,077.496 phantom stock units (which includes 96.739 units accrued via dividend reinvestment on July 31, 2026)

Market and Trading Context

This transaction constitutes a routine quarterly deferred compensation award for non-employee board service rather than an open-market purchase or sale. The phantom stock units are payable in cash in ten annual installments following the cessation of board service. Because this is an automated/plan-driven grant, it carries low trading significance and provides no direct signal regarding near-term operational momentum or sentiment.