Form 4: Director Louis Shapiro Increases ZBH Phantom Stock

Zimmer Biomet Holdings Director Louis Shapiro acquired 154.356 phantom stock units under the company's deferred compensation plan.

Summary

• Director Louis Shapiro acquired 154.356 phantom stock units on March 31, 2026.
• The units were acquired under the Zimmer Biomet Holdings, Inc. Deferred Compensation Plan for Non-Employee Directors.
• The conversion price for the phantom stock units is 1-for-1.
• Following this transaction, the reporting person holds a total of 2,661.254 phantom stock units.
• The units are set to be settled in shares of common stock within sixty days after the director ceases service.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a routine administrative filing regarding director compensation, which is neutral in terms of immediate market impact.

Positives

• Director demonstrates continued alignment with shareholder interests through participation in the deferred compensation plan.

Negatives

• None identified.

Risks

• Value of phantom stock units is tied to the future performance of Zimmer Biomet common stock.

Future Outlook

The units will be settled in common stock upon the cessation of the director's service to the company.

Management Comments

• The phantom stock units were accrued under the Zimmer Biomet Holdings, Inc. Deferred Compensation Plan for Non-Employee Directors.

Industry Context

StockSavvy.ai notes that director participation in deferred compensation plans is a standard corporate governance practice, signaling long-term commitment to the issuer's equity performance.

Comparison to Industry Standards

• The use of phantom stock units for non-employee director compensation is consistent with standard practices among large-cap medical device companies.
• The 1-for-1 conversion ratio is standard for deferred compensation equity-linked plans.

Stakeholder Impact

• Minimal impact on shareholders as this is a standard compensation-related transaction.

Next Steps

• Settlement of units into common stock upon the director's eventual departure from the board.

Key Dates

Keywords

Zimmer Biomet, ZBH, Director, Insider Trading, Phantom Stock, Deferred Compensation