NARAYEN SHANTANU 4

What Happened Shantanu Narayen, a member of Pfizer's Board of Directors, received an award of 2,058.46 units on 2026-06-26 valued at $50,000 (reported at $24.29 per unit). The award is reported as a derivative grant (transaction code A) representing phantom shares rather than an open-market purchase of common stock.

Key Details

• Transaction date: 2026-06-26; Form 4 filed: 2026-06-30.
• Units granted: 2,058.46 units at $24.29 per unit; aggregate reported value $50,000.
• Transaction type: A (award/grant), derivative (phantom share units).
• Shares/units owned after transaction: not specified in the filing provided.
• Footnotes: F1 — each unit equals one phantom share; F2 — units are deferred director compensation (including dividend equivalents) settled in cash or common stock at the director’s election after retirement.
• Filing timeliness: filing occurred four days after the transaction; Form 4s are generally due within two business days, so investors may want to confirm timeliness via the SEC filing record.

Context This was a compensation award of phantom share units for a director, not a market purchase or sale of common stock. Phantom units typically do not convey current voting rights and are settled in cash or shares later (here, at retirement per the footnote). Such awards are routine director compensation and should be interpreted differently from open-market purchases, which more directly signal insider buying interest.