Form 4: Pfizer Director Dan R. Littman Reports Acquisition of Phantom Stock Units

Director Dan R. Littman reports acquisition of phantom stock units in Pfizer Inc. through a nonfunded deferred compensation plan.

Summary

• On April 24, 2025, Dan R. Littman, a director of Pfizer Inc., reported the acquisition of 8,999 phantom stock units.
• These units were granted under Pfizer's Nonfunded Deferred Compensation and Unit Award Plan for Non-Employee Directors.
• Each unit represents one phantom share of Pfizer common stock.
• The price of the underlying common stock was $22.78.
• Following the transaction, Littman beneficially owns 62,509.743 phantom stock units.
• The units represent deferred director's compensation that will be settled in cash or common stock upon Littman's retirement from the Board of Directors.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating a stable and well-governed company. The sentiment is neutral to slightly positive.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance of Pfizer.
• The deferred compensation plan is a common practice for non-employee directors.

Future Outlook

The document does not contain specific forward-looking statements regarding Pfizer's future performance.

Industry Context

Deferred compensation plans are a common practice in corporate governance to align the interests of non-employee directors with the long-term success of the company. This filing reflects standard compensation practices for board members.

Comparison to Industry Standards

• Many large publicly traded companies, such as Johnson & Johnson, Merck, and AbbVie, utilize deferred compensation plans for their non-employee directors.
• These plans often involve the grant of stock options, restricted stock units, or phantom stock units, similar to the arrangement described in this filing.
• The specific terms of these plans, such as vesting schedules and settlement options, can vary depending on the company's compensation policies and objectives.

Stakeholder Impact

• The acquisition of phantom stock units by a director can positively influence shareholder confidence by aligning management's interests with those of the shareholders.
• The deferred compensation plan may have a minor impact on the company's future cash flow or equity, depending on the settlement options chosen by the director.

Key Dates

Keywords

Form 4, Pfizer, Director, Dan R. Littman, Phantom Stock Units, Deferred Compensation, Non-Employee Directors, Beneficial Ownership, Securities Exchange Act, SEC