LAVIZZO-MOUREY RISA J 4

What Happened Risa Lavizzo‑Mourey, a member of Merck & Co.'s board of directors, received a grant of 1,853.1 phantom stock units (derivative award) on 2026-05-29. The award is reported at a per‑unit value of $118.72, for a total reported value of $220,000. This was an award/grant (A) as part of director compensation—not an open‑market purchase.

Key Details

• Transaction date: 2026-05-29; Form 4 filed: 2026-06-02 (within the two-business-day filing window).
• Award: 1,853.1 phantom stock units valued at $118.72 each; total reported value $220,000.
• Instrument type: Derivative (phantom stock units) to be settled 100% in cash per the Plan for Deferred Payment of Directors' Compensation (footnote F2).
• Conversion/ratio note: 1‑for‑1 (footnote F1).
• Holdings after transaction: not specified in the provided summary. Footnote F3 notes that reported holdings may include shares acquired via dividend reinvestment.

Context This transaction is a routine director compensation award (phantom stock units) rather than a market purchase or sale. Phantom units are typically settled in cash upon the director’s termination of service according to an elected distribution schedule, so the award does not represent immediate share ownership or an open‑market investment.