Angela Hwang - Feb 22, 2023 Form 4 Insider Report for PFIZER INC (PFE)

Role: President, Global Biopharmaceu
Signature: Susan E. Grant, by power of atty., for Angela Hwang
Stock symbol: PFE
Transactions as of: Feb 22, 2023
Transactions value $: -$137,299
Form type: 4
Date filed: 2/24/2023, 08:34 PM
Previous filing: May 9, 2022
Next filing: Feb 28, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PFE	Common Stock	Options Exercise	$1.72M	+57K	+570.61%	$30.17	67K	Feb 22, 2023	Direct	F1
transaction	PFE	Common Stock	Tax liability	-$341K	-8.04K	-12%	$42.38	59K	Feb 22, 2023	Direct	F2
transaction	PFE	Common Stock	Tax liability	-$1.52M	-34.7K	-58.86%	$43.70	24.3K	Feb 22, 2023	Direct	F3, F4
holding	PFE	Common Stock						28.9K	Feb 22, 2023	By Rule 16b-3 Plan
holding	PFE	Common Stock						8.53K	Feb 22, 2023	By Spouse	F5

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	-57K	-100%	$0.00^*	0	Feb 22, 2023	Common Stock	57K	$30.17	Direct
transaction	PFE	Stock Appreciation Rights	Award	$0	+103K		$0.00	103K	Feb 23, 2023	Common Stock	103K	$42.30	Direct	F6
transaction	PFE	Stock Appreciation Rights	Award	$0	+89.9K		$0.00	89.9K	Feb 23, 2023	Common Stock	89.9K	$42.30	Direct	F7

* 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 reporting person disclaims beneficial ownership of the shares held by spouse.
F6	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.
F7	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.