PFIZER INC — Director's Dealing 2009

Nov 3, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PFIZER INC (PFE)
CIK: 0000078003
Period of Report: 2009-10-30

Reporting Person: READ IAN C (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-10-30	Common Stock	A	14680	—	Acquired	471534	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-10-30	Phantom Stock Units SSP	$0	A	290	Acquired		Common Stock (290)	Direct
2009-10-30	Stock Appreciation Rights	$17.03	A	54585	Acquired	2014-10-30	Common Stock (54585)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5809	Indirect

Footnotes

F1: The reported transaction constitutes the grant of restricted stock units, which will vest and be settled in shares of Pfizer common stock on the third anniversary of the date of grant, provided that the reporting person remains in the continuous employ of Pfizer until that anniversary date.

F2: Each unit represents one phantom share of common stock.

F3: 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 and may be transferred by the reporting person into an alternative investment account at any time.

F4: The stock appreciation rights will vest on the third anniversary of the date of grant, provided that the reporting person remains in the continuous employ of Pfizer until that anniversary date, and will be settled in shares of Pfizer common stock on the fifth anniversary of the date of grant.