Ferran Astorga Jeannette 4

What Happened

• Jeannette Ferran Astorga, Executive Vice President of Zoetis (ZTS), was granted 593.174 phantom stock units on 2026-03-27. The units were valued at $38.20 each, for a total reported value of $22,659. This transaction is recorded as an award/acquisition (derivative phantom units), not an open-market purchase or sale.

Key Details

• Transaction date and price: 2026-03-27; 593.174 units at $38.20 per unit (total $22,659).
• Transaction type: Award/Grant of phantom stock units (transaction code A; derivative).
• Shares/units owned after transaction: Not specified in this Form 4 (amount beneficially owned following the transaction not reported).
• Filing timeliness: Reported on 2026-03-31 — within the Form 4 two-business-day filing window for a 2026-03-27 transaction (timely).
• Footnotes from the filing:
  • F1: These phantom stock units are settled in cash after the reporting person's separation from service and can be moved into an alternative investment fund, subject to Zoetis’ limits on timing/frequency.
  • F2: Each phantom unit reflects a fraction of a phantom share plus a small cash-equivalent (~5%), so unit value tracks Zoetis stock plus cash-equivalent holdings.

Context

• Phantom stock units are a form of deferred compensation: they track the value of company stock (and some cash-equivalent) but are typically settled in cash rather than delivering actual shares. This is a routine compensation award rather than an indication of an open-market buy or sell.