Echevarria Joseph 4

What Happened
Joseph Echevarria, a member of Pfizer's Board of Directors, received a grant of 7,686.539 deferred units on 2026-04-23, valued at $26.67 per unit for a total grant value of $205,000. This was an award (derivative grant), not an open-market purchase — the units are phantom shares (deferred compensation) rather than immediate common-stock purchases.

Key Details

• Transaction type: Award/Grant (code A); treated as a derivative grant (phantom units).
• Date and valuation: 2026-04-23, 7,686.539 units at $26.67 each = $205,000.
• Plan: Pfizer Inc. Nonfunded Deferred Compensation and Unit Award Plan for Non-Employee Directors.
• Settlement: Units represent deferred director compensation that will be settled in cash or Pfizer common stock at the director's election following his retirement from the Board.
• Shares owned after transaction: Not reported in this filing.
• Filing timeliness: No late filing indicated in the report.

Context
Deferred-unit awards for non-employee directors are routine compensation and do not represent an immediate cash purchase of shares. Because these are phantom units settled later in cash or stock, they are primarily a compensation event rather than a direct bullish signal from the insider buying stock today.