Pfizer Director Joseph Echevarria Acquires Phantom Stock via Deferred Compensation

Executive Summary

On September 29, 2026, Pfizer Inc ($PFE) filed a Form 4 detailing an acquisition of phantom stock units by Director Joseph Echevarria. The transaction took place on September 25, 2026, and involved 1,613.185 phantom stock units acquired at a reference price of $28.67 per share, totaling approximately $46,250.

Transaction Details

• Reporting Person: Joseph Echevarria, Member of the Board of Directors
• Security: Phantom Stock Units (convertible 1-for-1 into common stock)
• Transaction Code: A (Award / Grant / Deferred Compensation)
• Amount: 1,613.185 units
• Price per Unit: $28.67
• Total Consideration: $46,249.99
• Post-Transaction Holdings: 169,739.319 phantom stock units held directly

Filing Footnotes and Context

According to the footnotes:

1. Each unit represents one phantom share of common stock.
2. The units reflect deferred director compensation (including dividend equivalents) settled in cash or Pfizer common stock at the director's election upon retirement from the Board of Directors.

Market Impact & Significance

This filing reflects routine non-employee director compensation under Pfizer's deferred compensation structure rather than an open-market purchase or sale. Because the transaction is part of standard board compensation and represents an automatic equity deferral, it carries Low trading significance and is unlikely to influence market sentiment.