Sarbaugh Keith 4
4 · Zoetis Inc. · Filed Apr 13, 2026
Research Summary
AI-generated summary of this filing
Zoetis (ZTS) EVP Keith Sarbaugh Receives Phantom Stock Award
What Happened
Keith Sarbaugh, Executive Vice President of Zoetis (ZTS), received an award of 230.76 phantom stock units on 2026-04-10 (transaction code A). The units were valued at $39.64 each, for a total grant value of approximately $9,147. This is an award/derivative grant (not an open-market purchase or sale) and typically reflects compensation or a deferred savings plan election rather than an active buy/sell decision.
Key Details
- Transaction date and price: 2026-04-10; 230.76 phantom units at $39.64 each; total ≈ $9,147.
- Filing: Form 4 filed 2026-04-13 (no late filing indicated in the report).
- Shares owned after transaction: Not specified in the provided report.
- Transaction type: A = Award/Grant; reported as a derivative (phantom stock units).
- Footnote F1: Units were acquired under the Zoetis Supplemental Savings Plan and are cash-settled after separation; they may be transferred into an alternative investment fund subject to company limits.
- Footnote F2: Each phantom unit tracks a fraction of a share plus ~5% cash-equivalent; value is tied to Zoetis common stock market value plus cash-equivalents.
Context
Phantom stock units are cash-settled deferred compensation that track the value of company stock (and here include a small cash-equivalent component). They do not represent current issued shares and typically do not convey voting rights; payout occurs later (commonly upon separation from service or according to plan terms). Because this was an award under a supplemental savings plan, it should be read as a compensation/deferral action rather than a direct insider purchase indicating a personal bullish bet.
Insider Transaction Report
- Award
Phantom Stock Unit
[F1][F2]2026-04-10$39.64/sh+230.76$9,147→ 2,105.193 total→ Common Stock (77.612 underlying)
Footnotes (2)
- [F1]These phantom stock units, which were acquired pursuant to the Zoetis Supplemental Savings Plan, are settled in cash following the reporting person's separation from service and may be transferred by the reporting person into an alternative investment fund at any time, provided Zoetis may limit the timing, frequency and permissibility of transfers from one investment fund to another at any time.
- [F2]Each phantom stock unit represents a fraction of a phantom share of Zoetis common stock, plus a small amount of cash-equivalent investments (the cash-equivalent investments typically represent around 5% of the total value of the phantom stock unit). Accordingly, the value of each phantom stock unit is determined by reference to the market value of Zoetis common stock and the value of the cash-equivalent investments.