PFIZER INC — Director's Dealing 2011

Mar 1, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PFIZER INC (pfe)
CIK: 0000078003
Period of Report: 2011-02-24

Reporting Person: SIMMONS DAVID S (Business Unit President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-24	Common Stock	A	37057	—	Acquired	132831	Direct
2011-02-24	Common Stock	A	1731	—	Acquired	134562	Direct
2011-02-24	Common Stock	F	628	$18.9	Disposed	133934	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-24	Stock Appreciation Rights	$18.9	A	163551	Acquired	2016-02-24	Common Stock (163551)	Direct
2011-02-24	Stock Appreciation Rights	$18.9	A	135397	Acquired	2018-02-24	Common Stock (135397)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1739	Indirect

Footnotes

F1: The reported transaction constitutes the grant of restricted stock units, which are subject to certain vesting requirements.

F2: The reported transaction constitutes the earn-out of Performance Share Awards (including dividend equivalents thereon).

F3: The reported transaction constitutes the withholding of shares to satisfy tax obligations upon the earn-out of Performance Share Awards (including dividend equivalents thereon).

F4: 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.

F5: 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.