Pfizer Inc. insider Albert Bourla reported an ownership change on July 15, 2026, in a Form 4 filed the next day. The reported securities are derivative securities tied to Pfizer common stock, described in the filing as units representing “phantom shares” of Pfizer common stock. The filing explains that each unit represents one phantom share. These units were acquired under the Pfizer Inc. Nonfunded Deferred Compensation and Supplemental Savings Plan. Unlike ordinary shares of Pfizer common stock, the phantom share units are not settled in stock; they are settled in cash after Bourla separates from service with the company. The filing also notes that Bourla may transfer the units into an alternative investment account at any time. The provided filing text does not disclose the number of phantom share units involved, the transaction price, a transaction code, or the exact number of derivative securities beneficially owned after the reported transaction. It also does not indicate an open-market purchase or sale of Pfizer common stock. Instead, the action appears to relate to deferred-compensation plan holdings linked to Pfizer’s share value. The report was signed on Bourla’s behalf by Shanice A. Reid under power of attorney on July 16, 2026. The filing matters because it reflects a change in Bourla’s economic exposure to Pfizer stock through cash-settled phantom share units, even though the excerpt does not provide enough detail to quantify the size of the change.