PFIZER INC

Executive Compensation

SECTION 1 — Elements of Our Executive Compensation Program

2025 SALARIES

The table below shows the annual salaries for our NEOs set by the Committee, which are based on its review of competitive market practices and individual performances:

(1)Salary is typically approved at the Committee’s February meeting of the respective year and effective April 1 of that year.

(2)Effective January 1, 2025, new salary of $1,400,000 to reflect his appointment and increased responsibilities as Chief Scientific Officer and President, Research & Development.

(3)Effective January 1, 2025, new salary of $1,380,720 to reflect his increased responsibilities for the Compliance function as Chief Legal Officer, EVP.

2025 ANNUAL INCENTIVE AWARD/GLOBAL PERFORMANCE PLAN (GPP)

The Committee determined funding for the annual incentive plan by assessing the company’s performance against three pre‑set, weighted financial goals tied to Pfizer’s annual operating plan, our achievement of pre‑set pipeline goals that support sustained portfolio delivery, and consideration of other qualitative factors. Performance against the financial goals is measured using the same key assumptions that guide our annual operating plan.(1) This approach ensures consistency across our financial planning and performance evaluation processes. The Committee has determined that its evaluation process (illustrated below) provides the appropriate limited flexibility to determine the final GPP pool funding.

Determining Annual Incentive Pool

Based on a holistic review of Pfizer’s overall performance with a strong focus on financial performance against pre-established goals, and considering the pipeline performance, as well as other qualitative factors, the Committee approved the GPP pool funding.

GPP Pool Funding Process

(1)Includes budgeted foreign exchange rates, business development activity (e.g., acquisitions or divestitures), planned increases in the pricing of our medicines, planned capital allocation activities, such as share repurchases and dividend payments (share repurchases in excess of budgeted amounts are removed from the calculation of the financial results for GPP purposes), and/or other operational factors (e.g., losses of exclusivity), as well as certain other qualitative criteria. In general, legal settlements will remain in the adjusted numbers as part of ordinary course of business. However, anomalous settlements, including but not limited to, acquisition-related activities and discontinued operations, are reviewed by the Controller and CFO to determine if they should be treated as a “Certain Significant Item” (CSI). CSI designations are ultimately reviewed by the Compensation Committee and the Board of Directors as part of their review of the financial statements. See “Financial Measures” for a comparison of U.S. GAAP revenues and U.S. GAAP net income and non-GAAP total revenue and non-GAAP Adjusted Net Income for annual incentive purposes, respectively.

Executive Compensation

In determining the funding level, the Committee evaluates the performance measured against the selected financial metrics and the non-financial (pipeline) modifier, as well as other qualitative factors annually, considering the following:•Consistency with best practices in our industry; •Support of the annual operating plan; •Reinforcement of our portfolio strategy, promotion of our decisions and behaviors aligned with maximizing near-term business results while supporting the achievement of the company’s long-term goals — while not encouraging unnecessary or excessive risk-taking; and•Progress on our achievement of key pipeline goals, which has the potential to drive long-term shareholder value.