PFIZER INC — Director's Dealing 2015

Jan 5, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PFIZER INC (PFE)
CIK: 0000078003
Period of Report: 2014-12-31

Reporting Person: BOURLA ALBERT (Group President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-12-31	Common Stock	M	16060.0000	$18.1900	Acquired	113177.0000	Direct
2014-12-31	Common Stock	F	4662.0000	$31.1500	Disposed	108515.0000	Direct
2014-12-31	Common Stock	F	7022.0000	$31.5400	Disposed	101493.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-12-31	Phantom Stock Units SSP	$	A	17.0000	Acquired		Common Stock (17.0000)	Direct
2014-12-31	Stock Appreciation Rights	$18.1900	M	16060.0000	Disposed	2014-12-31	Common Stock (16060.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1944.0000	Indirect

Footnotes

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

F2: The reported transaction constitutes the withholding of shares to satisfy tax obligations in connection with earn-out of stock appreciation rights.

F3: 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).

F4: 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.

F5: Each unit represents one phantom share of common stock.

F6: These units, which were acquired pursuant to the Pfizer Inc. Nonfunded Deferred Compensation and Supplemental Savings Plan, are settled in cash following the reporting person's separation from service and may be transferred by the reporting person into an alternative investment account at any time.