Form 4: Pfizer SVP & Controller Jennifer B. Damico Reports Acquisition of Phantom Stock Units

Jennifer B. Damico, SVP & Controller at Pfizer Inc., reported the acquisition of 52 phantom stock units through the Pfizer Supplemental Savings Plan on July 15, 2024.

Summary

• On July 15, 2024, Jennifer B. Damico, SVP & Controller of Pfizer Inc., acquired 52 phantom stock units.
• The acquisition was made through the Pfizer Supplemental Savings Plan (SSP).
• Each unit represents one phantom share of Pfizer common stock.
• The price of the phantom stock units was $29.1.
• Following the transaction, Damico directly owns 28,794 shares of Pfizer common stock.
• The phantom stock units are settled in cash following the reporting person's separation from service and may be transferred by the reporting person into an alternative investment account at any time.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a routine transaction related to executive compensation, indicating confidence in the company's future performance.

Positives

• The acquisition of phantom stock units through the Pfizer Supplemental Savings Plan aligns the executive's interests with those of the shareholders.

Future Outlook

The phantom stock units are settled in cash following the reporting person's separation from service and may be transferred by the reporting person into an alternative investment account at any time.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates an executive's participation in a company savings plan, which is a common practice.

Comparison to Industry Standards

• Phantom stock plans are a common form of executive compensation, used by companies like Johnson & Johnson and Merck to align executive incentives with shareholder value.
• The Pfizer Supplemental Savings Plan is similar to deferred compensation plans offered by other large pharmaceutical companies, such as Novartis and Roche, allowing executives to defer income and invest in company stock.

Stakeholder Impact

• The transaction has a minor positive impact on stakeholders by aligning executive compensation with company performance.

Key Dates