PFIZER INC — Director's Dealing 2014

Feb 28, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PFIZER INC (PFE)
CIK: 0000078003
Period of Report: 2014-02-26

Reporting Person: OLSON LAURIE J (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-02-26	Common Stock	M	31772.0000	$12.7000	Acquired	68167.0000	Direct
2014-02-26	Common Stock	A	5830.0000	$0.0000	Acquired	73997.0000	Direct
2014-02-26	Common Stock	F	2156.0000	$31.9900	Disposed	71841.0000	Direct
2014-02-26	Common Stock	F	21760.0000	$31.9900	Disposed	50081.0000	Direct
2014-02-27	Common Stock	A	6486.0000	$0.0000	Acquired	56567.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-02-26	Stock Appreciation Rights	$12.7000	M	21891.0000	Disposed	2014-02-26	Common Stock (21891.0000)	Direct
2014-02-27	Stock Appreciation Rights	$32.2300	A	35592.0000	Acquired	2019-02-27	Common Stock (35592.0000)	Direct
2014-02-27	Stock Appreciation Rights	$32.2300	A	28347.0000	Acquired	2021-02-27	Common Stock (28347.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4443.0000	Indirect

Footnotes

F1: The reported transaction constitutes the earn-out of stock appreciation rights (including dividend equivalents thereon).

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 reported transaction constitutes the withholding of shares to satisfy tax obligations and payment of exercise price in connection with the earn-out of stock appreciation rights (including dividend equivalents thereon).

F5: The reported transaction constitutes the grant of restricted stock units, which are subject to certain vesting requirements.

F6: Dividend equivalents are paid on these stock appreciation rights at the time of settlement.

F7: 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.

F8: 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.