Payal Sahni - Feb 23, 2022 Form 4 Insider Report for PFIZER INC (PFE)

Role: Executive Vice President
Signature: Susan E. Grant, by power of atty., for Payal Sahni
Stock symbol: PFE
Transactions as of: Feb 23, 2022
Transactions value $: -$100,153
Form type: 4
Date filed: 2/25/2022, 05:27 PM
Next filing: Mar 1, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PFE	Common Stock	Options Exercise	$380K	+13.9K	+89.53%	$27.34	29.4K	Feb 23, 2022	Direct	F1
transaction	PFE	Common Stock	Tax liability	-$127K	-2.72K	-9.24%	$46.87	26.7K	Feb 23, 2022	Direct	F2
transaction	PFE	Common Stock	Tax liability	-$352K	-6.87K	-25.76%	$51.28	19.8K	Feb 23, 2022	Direct	F3, F4
holding	PFE	Common Stock						9.69K	Feb 23, 2022	By Rule 16b-3 Plan

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	PFE	Stock Appreciation Rights	Options Exercise	$0	-13.9K	-100%	$0.00^*	0	Feb 23, 2022	Common Stock	13.9K	$27.34	Direct
transaction	PFE	Stock Appreciation Rights	Award	$0	+42.3K		$0.00	42.3K	Feb 24, 2022	Common Stock	42.3K	$45.96	Direct	F5
transaction	PFE	Stock Appreciation Rights	Award	$0	+37.2K		$0.00	37.2K	Feb 24, 2022	Common Stock	37.2K	$45.96	Direct	F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reported transaction constitutes the earn-out of stock appreciation rights (including dividend equivalents thereon).
F2	The reported transaction constitutes the withholding of shares to satisfy tax obligations in connection with earn-out of stock appreciation rights.
F3	The reported transaction constitutes the withholding of shares to cover payment of exercise price in connection with earn-out of stock appreciation rights (including dividend equivalents thereon).
F4	Under the terms of the settlement of the stock appreciation rights the 20-day average of the closing prices of Pfizer common stock ending on the settlement date is used.
F5	The stock appreciation rights, which are subject to certain vesting requirements, will be settled in shares of Pfizer common stock on the fifth anniversary of the date of grant.
F6	The stock appreciation rights, which are subject to certain vesting requirements, will be settled in shares of Pfizer common stock on the seventh anniversary of the date of grant.