Coe Mary Ellen 4

What Happened

• Mary Ellen Coe, a director of Merck & Co. (MRK), was granted 249.397 derivative units on 2026-03-31 valued at $120.29 each, for a total reported value of $30,000. The filing is coded as an award/grant (transaction code A) and reports a derivative grant rather than an open‑market purchase.

Key Details

• Transaction date: 2026-03-31; Form 4 filed: 2026-04-01 (appears timely).
• Grant: 249.397 units at $120.29 per unit; total reported value $30,000.
• Security type: derivative (phantom stock units), not actual shares.
• Footnotes: F1 indicates a 1-for-1 conversion reference; F2 states phantom stock units will be settled 100% in cash upon the reporting person’s termination of service per the Plan for Deferred Payment of Directors’ Compensation; F3 notes holdings include shares acquired via dividend reinvestment transactions.
• Shares owned after the transaction are not specified in the provided filing details.

Context

• These units are a form of director compensation (phantom/stock‑unit award) that tracks the economic value of Merck shares but are cash‑settled on the reporting person’s termination, so they do not represent immediate share ownership or a market purchase. Such grants are routine for directors and do not by themselves indicate a buy or sell signal.