Form 4: Organon & Co. Director Acquires Phantom Stock

Cynthia M. Patton, a Director at Organon & Co., acquired 17,857.143 phantom stock units on June 12, 2026, as part of the company's Non-Employee Director Savings Plan.

Summary

• Cynthia M. Patton, a Director of Organon & Co., acquired 17,857.143 phantom stock units on June 12, 2026.
• These phantom stock units are economically equivalent to shares of Organon common stock on a 1-for-1 basis.
• The acquisition was made under the Organon Non-Employee Director Savings Plan.
• The phantom stock units are payable in cash upon settlement after Ms. Patton's termination of service as a director.
• The reported value of the acquired phantom stock units is $13.44 per unit, totaling $239,999.99.
• Ms. Patton's total beneficial ownership following this transaction is 81,141.129 phantom stock units.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it represents a routine director compensation transaction rather than a significant strategic or financial event.

Positives

• Director participation in company stock plans can indicate confidence in the company's future performance.
• Dividend reinvestment in phantom stock units suggests continued accumulation of value by the director.

Risks

• The value of phantom stock units is tied to the market price of Organon common stock, which is subject to market volatility.
• Payment is deferred until termination of service, meaning the director's access to the cash value is delayed.

Future Outlook

Phantom stock units are payable in cash upon settlement after the reporting person's termination of service as a director, indicating a long-term incentive structure.

Industry Context

StockSavvy.ai notes that the use of phantom stock units is a common practice in the pharmaceutical and biotechnology sectors for director compensation, aligning executive interests with shareholder value over the long term.

Related Party Transactions

• Acquisition of phantom stock units by Director Cynthia M. Patton under the Organon Non-Employee Director Savings Plan.

Stakeholder Impact

• Shareholders: The transaction reflects standard director compensation practices and does not immediately impact share count or outstanding equity.
• Employees: No direct impact on employees, though it signifies continued executive compensation strategies.
• Management: Reinforces the alignment of director incentives with company performance through equity-like instruments.

Next Steps

• Settlement of phantom stock units in cash upon termination of service as a director.

Key Dates

Keywords

Organon & Co., OGN, Form 4, Insider Trading, Phantom Stock, Director Compensation, Securities Ownership, SEC Filing