BOURLA ALBERT 4

What Happened

• Albert Bourla, Chairman & CEO of Pfizer Inc. (PFE), received a derivative award of 2,883 units on February 12, 2026. The filing shows an acquisition price of $27.47 per unit for a total reported value of $79,196. The transaction is reported on Form 4 as an award/grant (code A) of derivative units rather than an open-market purchase of common stock.

Key Details

• Transaction date and price: 2026-02-12 at $27.47 per unit; total reported value $79,196.
• Instrument: Derivative units (each unit represents one phantom share of common stock; see footnote F1).
• Plan/settlement terms: Units were granted under the Pfizer Nonfunded Deferred Compensation and Supplemental Savings Plan; they are settled in cash upon the reporting person’s separation from service and may be transferred into an alternative investment account at any time (footnote F2).
• Shares owned after transaction: Not specified in the Form 4 filing provided.
• Filing timeliness: Form 4 was filed on 2026-02-17 for a 2026-02-12 transaction (filed 5 days after the transaction), which appears later than the typical 2-business-day reporting window for Form 4s.

Context

• These are phantom-share/withdrawal-right units (cash-settled) — they are derivatives that reflect the economic value of common stock but do not represent current share ownership, voting rights, or dividends until settlement.
• Awards under deferred compensation plans are routine for executives and do not by themselves indicate a directional market signal from buying or selling stock.