PFIZER INC — Director's Dealing 2004

Mar 1, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PFIZER INC (PFE)
CIK: 0000078003
Period of Report: 2004-02-26

Reporting Person: MCKINNELL HENRY A (Director, Chairman and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-02-26	Common Stock	A	75060	—	Acquired	1224147	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-02-27	Phantom Stock Units SSP	$	A	112	Acquired		Common Stock (112)	Direct
2004-02-26	Employee Stock Option (right to buy)	$37.15	A	525000	Acquired	2014-02-26	Common Stock (525000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	36162	Indirect
Common Stock	43857	Indirect

Footnotes

F1: The reported transaction constitutes the earn-out of Performance-Contingent Shares.

F2: This option becomes exercisable in three equal annual installments beginning on February 26, 2007.

F3: Each unit represents one phantom share of common stock.

F4: These units, which were acquired pursuant to the Pfizer Inc. Nonfunded Deferred Compensation and Supplemental Savings Plan, are settled in cash following the reporting person's separation from service.