Pfizer CEO Albert Bourla Acquires Phantom Stock Units via Deferred Compensation Plan

Executive Summary

On October 1, 2026, Pfizer Inc. ($PFE) filed a Form 4 on behalf of Chairman & CEO Albert Bourla detailing the acquisition of 21 Phantom Stock Units under the company's Nonfunded Deferred Compensation and Supplemental Savings Plan (SSP). The transaction took place on September 30, 2026, at an implied price of $28.52 per share, totaling approximately $598.92.

Transaction Analysis

• Security: Phantom Stock Units SSP (each unit represents one phantom share of common stock).
• Nature of Acquisition: Code 'A' transaction representing an automated or routine deferred compensation credit under Pfizer's supplemental retirement/savings plan.
• Settlement Terms: Units are settled in cash following separation from service and can be reallocated to alternative investment accounts at any time prior.
• Ownership Position: Dr. Bourla holds 783,888 phantom stock units in this plan following the transaction.

Market & Trading Implications

This filing reflects a routine compensation accrual rather than a discretionary open-market purchase or sale. Because of its nominal size ($598.92) and automated nature under an executive deferred compensation plan, it does not convey directional sentiment regarding Pfizer's operating performance or stock valuation.