Sarbaugh Keith 4

What Happened

• Keith Sarbaugh, Executive Vice President of Zoetis, was granted 626.672 phantom stock units on 2026-03-27. The units are valued at $38.20 each for a total grant value of approximately $23,939. The Form 4 reports this as an award/acquisition (code A) of a derivative instrument (phantom stock units), not an open‑market stock purchase.

Key Details

• Transaction date: 2026-03-27; filing date: 2026-03-31 (filed within normal two-business-day window).
• Award: 626.672 phantom stock units priced at $38.20 per unit; total value ≈ $23,939.
• Security type: Derivative (phantom stock units), not actual shares of common stock.
• Shares owned after transaction: Not reported in the provided data.
• Footnotes:
  • F1: Units were acquired under the Zoetis Supplemental Savings Plan and are settled in cash upon separation from service; transfers into an alternative investment fund are permitted but may be limited by Zoetis.
  • F2: Each phantom stock unit tracks a fraction of a phantom share plus ~5% cash-equivalent investments; unit value is tied to Zoetis common stock market value plus the cash component.

Context

• Phantom stock units are a form of deferred compensation tied to company share value and are typically settled in cash rather than resulting in immediate issuance of common stock. Such awards are common for executives and do not necessarily signal insider buying or selling intent.