Monday, July 14, 2014
Inquirer Daily News

Pfizer CEO gets stock bonuses; company adds vitamin C

Pfizer chief Ian Read got a batch of stock via two bonuses last week and then had a slice sold for withholding to pay the taxes on one of the awards, according to an SEC filing.

Pfizer CEO gets stock bonuses; company adds vitamin C

Pfizer chief executive officer Ian Read got a batch of stock via two bonuses last week and then had a slice sold for withholding to pay the taxes on one of the awards, according to a filing with the Securities and Exchange Commission.

Read got 153,157 shares of restricted stock in a transaction dated Thursday and then got 75,251 in a performance bonus award that was dated Friday. You can read the SEC filing here.

According to the filing, Read sold 33,157 shares for $21.18 per share to satisfy the tax withholding obligation on the 75,251 shares. That amounted to $702,265.26.

At the end of all that trading, Read held 878,697 shares directly and 104,763 more shares indirectly through an employee benefit plan or a trust. Using Monday's closing price of $21.26, Read's 983,460 shares are worth $20.9 million.

Looking over the horizon a bit more, Read was also granted "stock appreciation rights," to shares he can cash five and seven years from Feb. 23. The first batch would give him 788,835 shares, which can be exercised on on Feb. 23, 2017 and 668,724 shares for use on Feb. 23, 2019. The price for those was $21.03.

Meanwhile, Pfizer said it bought privately held Alacer Corp., which claims that its Emergen-C products are the largest selling branded vitamin C line in the United States.

Neither company said how much the deal cost.

David Sell
About this blog
David Sell blogs about the region's pharmaceutical industry. Follow him on Facebook.

For Inquirer.com. Portions of this blog may also be found in the Inquirer's Sunday Health Section.

Reach David at dsell@phillynews.com.

David Sell
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