Form 4: Zimmer Biomet Director Reports Phantom Stock Acquisition

Director Maria Teresa Hilado acquired 378.873 phantom stock units under the company's deferred compensation plan.

Summary

• Director Maria Teresa Hilado acquired 378.873 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 these units is 1-for-1.
• Following this transaction, the director holds a total of 11,684.719 phantom stock units.
• These units are to be settled in cash in ten annual installments following the cessation of the director's service.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a routine administrative filing regarding director compensation, which carries no significant market sentiment.

Positives

• Director alignment with company performance through participation in the deferred compensation plan.

Negatives

• None identified.

Risks

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

Future Outlook

The units will be settled in cash in ten annual installments starting after the director leaves the board.

Management Comments

• The transaction reflects standard participation in the company's 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 in the medical device industry, signaling long-term commitment to the issuer's equity performance.

Comparison to Industry Standards

• The use of phantom stock units for director compensation is consistent with practices at peer companies like Stryker and Medtronic.
• The 1-for-1 conversion ratio is standard for deferred compensation arrangements in large-cap healthcare firms.

Stakeholder Impact

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

Next Steps

• No further action required; this is a routine disclosure of director compensation.

Key Dates

Keywords

Zimmer Biomet, ZBH, Form 4, Insider Trading, Director Compensation, Phantom Stock