PFIZER INC — Director's Dealing 2015

Feb 28, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PFIZER INC (PFE)
CIK: 0000078003
Period of Report: 2015-02-25

Reporting Person: JOHNSON RADY A (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-02-25	Common Stock	M	19426.0000	$17.6900	Acquired	56250.0000	Direct
2015-02-25	Common Stock	A	2237.0000	$0.0000	Acquired	58487.0000	Direct
2015-02-25	Common Stock	F	828.0000	$34.6600	Disposed	57659.0000	Direct
2015-02-25	Common Stock	F	4352.0000	$34.6600	Disposed	53307.0000	Direct
2015-02-25	Common Stock	F	7655.0000	$33.4700	Disposed	45652.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-02-25	Stock Appreciation Rights	$17.6900	M	19426.0000	Disposed	2015-02-25	Common Stock (19426.0000)	Direct
2015-02-26	Stock Appreciation Rights	$34.5900	A	33414.0000	Acquired	2020-02-26	Common Stock (33414.0000)	Direct
2015-02-26	Stock Appreciation Rights	$34.5900	A	27852.0000	Acquired	2022-02-26	Common Stock (27852.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	387.0000	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 in connection with earn-out of stock appreciation rights.

F5: The reported transaction constitutes the withholding of shares to cover payment of exercise price in connection with earn-out of stock appreciation rights (including dividend equivalents thereon).

F6: Under the terms of the settlement of the stock appreciation rights the 20-day average of the closing prices of Pfizer common stock ending on the settlement date is used.

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.