Subsequent Event

3 Months Ended

Mar. 29, 2020

Subsequent Events [Abstract]

Subsequent Event

Subsequent Event

Prior to May 4, 2020, Pfizer’s Series A convertible perpetual preferred stock (the “Preferred Stock”) was held by an employee stock ownership plan trust (the “Trust”). On April 28, 2020, the independent fiduciary under the Trust directed the trustee and custodian of the Trust to convert all of the shares of the Preferred Stock held in the Trust to shares of Pfizer common stock, in accordance with the certificate of designations for the Preferred Stock. All outstanding shares of Preferred Stock were converted into shares of Pfizer common stock on May 4, 2020. The Trust received an aggregate of 1,070,369 shares of Pfizer common stock upon conversion, with zero shares of Preferred Stock remaining outstanding as a result of the conversion.