DAMICO JENNIFER B. 4
4 · PFIZER INC · Filed Feb 27, 2026
Research Summary
AI-generated summary of this filing
Pfizer (PFE) SVP Jennifer Damico Exercises Stock Appreciation Rights
What Happened
Jennifer B. Damico, Senior Vice President & Controller of Pfizer, exercised the earn-out on stock appreciation rights (SARs) on Feb 25, 2026. The filing shows 17,558 shares were reported as acquired in the settlement (value $593,812). To satisfy tax withholding and to cover the exercise price, 17,048 of those shares were withheld (combined value $458,993). After withholding, 510 shares remained from the settlement; the net economic benefit from the transaction (gross settlement minus withheld shares) was about $134,819. This was a compensation-related exercise/settlement (routine) rather than an open-market purchase.
Key Details
- Transaction date: 2026-02-25; Form 4 filed: 2026-02-27 (timely).
- Reported entries:
- M (exercise/conversion): 17,558 shares @ $33.82 = $593,812 (acquired via SAR settlement).
- F (withholding): 361 shares @ $27.09 = $9,779 (tax withholding).
- F (withholding): 16,687 shares @ $26.92 = $449,214 (withheld to cover exercise price).
- M (derivative cancellation): 17,558 SARs disposed @ $0 (reflects cancellation on settlement).
- Shares retained from this settlement: 510 shares. Total Pfizer shares owned after the transaction are not disclosed in the filing.
- Footnotes: F1–F3 confirm this was an earn-out settlement of SARs and that shares were withheld to cover taxes and exercise price; F4 notes the 20‑day average closing price ending on the settlement date was used in the settlement calculation.
- Transaction codes: M = exercise/conversion of derivative; F = withholding for taxes/exercise.
- Filing timeliness: Not reported late (transaction 2/25; filed 2/27).
Context
- This was a net/“cashless” style settlement of SARs (shares issued then withheld to satisfy obligations), a common form of compensation vesting—routine and not necessarily a directional signal about the insider’s view of the stock.
- No open-market sale beyond the company withholding to satisfy tax and exercise obligations was reported.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-02-25$33.82/sh+17,558$593,812→ 29,744 total - Tax Payment
Common Stock
[F2]2026-02-25$27.09/sh−361$9,779→ 29,383 total - Tax Payment
Common Stock
[F3][F4]2026-02-25$26.92/sh−16,687$449,214→ 12,696 total - Exercise/Conversion
Stock Appreciation Rights
2026-02-25−17,558→ 0 totalExercise: $33.82From: 2026-02-25Exp: 2026-02-25→ Common Stock (17,558 underlying)
Footnotes (4)
- [F1]The reported transaction constitutes the earn-out of stock appreciation rights (including dividend equivalents thereon).
- [F2]The reported transaction constitutes the withholding of shares to satisfy tax obligations in connection with earn-out of stock appreciation rights.
- [F3]The reported transaction constitutes the withholding of shares to cover payment of exercise price in connection with earn-out of stock appreciation rights (including dividend equivalents thereon).
- [F4]Under the terms of the settlement of the stock appreciation rights the 20-day average of the closing prices of Pfizer common stock ending on the settlement date is used.