PFIZER INC — Director's Dealing 2012

Feb 28, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PFIZER INC (PFE)
CIK: 0000078003
Period of Report: 2012-02-23

Reporting Person: READ IAN C (Director, Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-23	Common Stock	A	153157.0000	$0.0000	Acquired	837331.0000	Direct
2012-02-24	Common Stock	A	75251.0000	$0.0000	Acquired	912582.0000	Direct
2012-02-24	Common Stock	F	33885.0000	$21.1800	Disposed	878697.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-23	Stock Appreciation Rights	$21.0300	A	788835.0000	Acquired	2017-02-23	Common Stock (788835.0000)	Direct
2012-02-23	Stock Appreciation Rights	$21.0300	A	668724.0000	Acquired	2019-02-23	Common Stock (668724.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	8154.0000	Indirect
Common Stock	96609.0000	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: These shares previously were reported as directly beneficially owned but were contributed to a grantor retained annuity trust on November 30, 2011.

F5: 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.

F6: 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.