Louis Shapiro (Director) Accrues Phantom Stock Units in Zimmer Biomet ($ZBH)

Insider Filing Analysis: Zimmer Biomet Holdings, Inc. ($ZBH)

Summary

On October 2, 2026, Director Louis Shapiro filed a Form 4 reporting an acquisition of 153.033 Phantom Stock Units on September 30, 2026. The units were accrued under the company's Deferred Compensation Plan for Non-Employee Directors.

Key Details

• Security: Phantom Stock Units (Derivative)
• Units Acquired: 153.033
• Conversion / Benchmark Price: $89.85 (1-for-1 conversion into common stock)
• Cost Basis: $0 (Acquired pursuant to deferred compensation arrangements)
• Post-Transaction Balance: 3,865.311 units (includes 9.178 units acquired via dividend reinvestment on July 31, 2026)
• Settlement Terms: Units settle in shares of common stock within 60 days following the reporting person's cessation of service as a Director.

Market & Trading Assessment

• Significance Level: Low
• This transaction represents a routine quarterly accrual under a pre-established non-employee director compensation deferral structure.
• Because this is an administrative accrual rather than an open-market purchase or sale, it carries minimal signaling value regarding management's outlook on stock valuation.