Form 4: Zimmer Biomet Director Boosts Phantom Stock Holdings

Zimmer Biomet Holdings, Inc. Director Robert Hagemann acquired 280.326 phantom stock units, increasing his total beneficial ownership to 31,207.57 units.

Summary

• Robert Hagemann, a Director of Zimmer Biomet Holdings, Inc. (ZBH), acquired 280.326 phantom stock units.
• The transaction occurred on September 30, 2025, with an acquisition price of $0 per unit.
• These phantom stock units were accrued under the Zimmer Biomet Holdings, Inc. Deferred Compensation Plan for Non-Employee Directors.
• The conversion or exercise price of each derivative security is 1-for-1, with an underlying common stock value of $98.1.
• Following this transaction, Robert Hagemann beneficially owns a total of 31,207.57 phantom stock units.
• This total includes 79.18 phantom stock units accrued on July 31, 2025, through the dividend reinvestment provision of the same plan.

Sentiment

Score: 7

Explanation: The acquisition of phantom stock units by a director, even as part of a compensation plan, generally indicates continued confidence in the company's performance and aligns the director's interests with long-term shareholder value.

Positives

• A Director increasing beneficial ownership of phantom stock units, even as part of a compensation plan, can signal continued alignment of interests with shareholders and confidence in the company's future performance.

Future Outlook

Phantom stock units are to be settled in cash in five annual installments, commencing within sixty days after the end of the calendar year in which the reporting person's service as a Director ceases.

Industry Context

Insider transactions, such as the acquisition of phantom stock units by directors as part of deferred compensation plans, are common practices across various industries to align management incentives with shareholder interests.

Stakeholder Impact

• Shareholders may view the Director's increased beneficial ownership of phantom stock units as a positive signal of management's commitment and belief in the company's future.

Next Steps

• Settlement of phantom stock units in cash in five annual installments following the cessation of the Director's service.

Key Dates

Recommendation

The filing details a routine acquisition of phantom stock units by a director as part of a deferred compensation plan. While it indicates continued alignment of interests, it does not provide new fundamental information to alter an investment thesis significantly, thus a 'hold' recommendation is appropriate.

Keywords

Zimmer Biomet, ZBH, Robert Hagemann, Director, Phantom Stock Units, Insider Transaction, Deferred Compensation, SEC Form 4