Form 4: Pfizer Director Hockfield Acquires Phantom Stock Units

Director Susan Hockfield acquired 8,999 phantom stock units of Pfizer Inc. as part of deferred compensation.

Summary

• On April 24, 2025, Susan Hockfield, a director of Pfizer Inc., acquired 8,999 phantom stock units.
• The acquisition was made under the Pfizer Inc. Nonfunded Deferred Compensation and Unit Award Plan for Non-Employee Directors.
• These units represent deferred director's compensation and will be settled in cash or common stock at the director's election upon retirement from the Board of Directors.
• Following the transaction, Hockfield beneficially owns 42,180.556 phantom stock units.
• The price of the underlying common stock at the time of the transaction was $22.78.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally. The acquisition of phantom stock units can be seen as a positive sign of alignment between the director and the company's long-term interests.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance of Pfizer.
• Deferred compensation plans can be tax-efficient for directors.
• The plan provides flexibility for the director to choose between cash or common stock settlement upon retirement.

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 for compensating non-employee directors in publicly traded companies, aligning their interests with shareholders and providing tax-efficient benefits.

Comparison to Industry Standards

• Many large pharmaceutical companies, such as Johnson & Johnson and Merck, offer similar deferred compensation plans to their non-employee directors.
• These plans typically allow directors to defer receipt of cash compensation and receive stock units that vest over time.
• The specific terms of these plans, such as the vesting schedule and settlement options, can vary depending on the company.

Stakeholder Impact

• The acquisition of phantom stock units has a minimal direct impact on shareholders, employees, customers, suppliers, or creditors.
• It primarily affects the director's compensation and alignment with the company's long-term performance.

Key Dates

Keywords

Pfizer, Director, Hockfield, Phantom Stock Units, Deferred Compensation, Form 4, Beneficial Ownership