Karsanbhai Surendralal Lanca 4

What Happened
Karsanbhai Surendralal Lanca, a director of Merck & Co., received a grant of 126.459 phantom stock units on 2026-06-30. The units were valued at $128.50 each for a notional total of $16,250. This was an award/derivative grant (transaction code A) as part of director compensation, not an open-market purchase.

Key Details

• Transaction date: 2026-06-30; Form 4 filed 2026-07-01 (timely filing).
• Award: 126.459 phantom stock units at $128.50 per unit; aggregate notional value $16,250.
• Instrument: Phantom stock units (derivative), not delivered common shares. Footnote F2 states units are to be settled 100% in cash upon the reporting person's termination of service per the Plan for Deferred Payment of Directors' Compensation.
• Footnote F1: 1-for-1 (each unit corresponds to one share-equivalent for value calculation).
• Shares/units owned after transaction: not stated in the provided excerpt.
• Transaction type: A = award/grant (derivative), not a purchase or sale.

Context
Phantom stock units are a deferred cash award that track the value of Merck shares but do not confer ownership, voting rights, or immediate market exposure; they are typically paid out in cash according to a distribution schedule when the director leaves service. Such grants are routine director compensation and do not by themselves indicate a personal buy or sell signal.