Michael McDermott - 25 Feb 2023 Form 4 Insider Report for PFIZER INC (PFE)

Role: Executive Vice President
Signature: Susan E. Grant, by power of atty., for Michael McDermott
Issuer symbol: PFE
Transactions as of: 25 Feb 2023
Net transactions value: -$193,526
Form type: 4
Filing time: 28 Feb 2023, 16:52:58 UTC
Previous filing: 24 Feb 2023
Next filing: 27 Feb 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PFE	Common Stock	Options Exercise	$324,534	+14,178	+18%	$22.89	93,099	25 Feb 2023	Direct	F1
transaction	PFE	Common Stock	Tax liability	$118,528	-2,839	-3%	$41.75	90,260	25 Feb 2023	Direct	F2, F3
transaction	PFE	Common Stock	Tax liability	$273,889	-6,305	-7%	$43.44	83,955	25 Feb 2023	Direct	F4, F5
transaction	PFE	Common Stock	Tax liability	$125,643	-3,081	-3.7%	$40.78	80,874	27 Feb 2023	Direct	F6

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	-14,178	-100%	$0.000000^*	0	25 Feb 2023	Common Stock	14,178	$22.89	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	Price is the closing price of Pfizer common stock on February 24, 2023.
F4	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).
F5	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.
F6	The reported transaction constitutes the withholding of shares to satisfy tax obligations upon the vesting of restricted stock units (including dividend equivalents thereon).
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.