THULIN INGE G 4

What Happened

• Inge G. Thulin, a director of Merck & Co., received a grant of 1,853.1 derivative units (reported as shares) on May 29, 2026. The units are recorded at $118.72 each, totaling about $220,000. The filing classifies the transaction as an award/grant (code A).

Key Details

• Transaction date and price: May 29, 2026 — 1,853.1 units @ $118.72 each (total ~$220,000).
• Transaction type: Grant of derivative units (reported as a share-equivalent award).
• Derivative settlement: Footnote indicates these are phantom stock units to be settled 100% in cash upon the reporting person’s termination of service, per an elected distribution schedule (F2).
• Conversion/ratio note: Footnote indicates a 1-for-1 relationship (F1).
• Holdings after transaction: Not specified on this Form 4 filing.
• Other note: Footnote states holdings may include shares acquired via dividend reinvestment (F3).
• Filing timeliness: Report filed June 2, 2026 for a May 29, 2026 grant; no late filing is flagged in the report.

Context

• This was an equity-based compensation grant to a director (common for non-employee directors) and is recorded as a derivative (phantom) award that will be paid in cash on termination according to the plan terms. Such grants are routine compensation and do not necessarily indicate a near-term buy or sell decision by the insider.