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: HILL CHARLES H (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-24	Common Stock	A	17867.0000	$0.0000	Acquired	62545.0000	Direct
2011-02-24	Common Stock	A	1339.0000	$0.0000	Acquired	63884.0000	Direct
2011-02-24	Common Stock	F	486.0000	$18.9000	Disposed	63398.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-24	Stock Appreciation Rights	$18.9000	A	78855.0000	Acquired	2016-02-24	Common Stock (78855.0000)	Direct
2011-02-24	Stock Appreciation Rights	$18.9000	A	65280.0000	Acquired	2018-02-24	Common Stock (65280.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	183.0000	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.