Albert Bourla
Also at Pfizer Inc
About
Albert Bourla was born in 1962 and has developed a passion for science and innovation from an early age. He pursued a career in veterinary medicine and biotechnology, earning advanced degrees that have laid the foundation for his success. His educational background provided him with the skills required to contribute significantly to the field of biopharmaceuticals.
Over the span of more than 25 years at Pfizer, he started his journey with the company in 1993 and steadily advanced through a variety of roles in key divisions. His career is highlighted by pivotal leadership positions, where he was responsible for strategic initiatives, product development, and driving global commercial operations. His contributions have been instrumental in the development of groundbreaking treatments, including playing a central role in the rapid development of the COVID-19 vaccine.
Beyond his roles within the company, he has been actively involved in shaping Pfizer’s corporate culture and strategy. His leadership has not only focused on scientific innovation and operational excellence but has also emphasized corporate social responsibility, diversity, and global healthcare equity. These initiatives under his stewardship have reinforced Pfizer's reputation as a leader in the biopharmaceutical industry.
$PFE Performance Under Albert Bourla
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Pfizer | Chief Operating Officer | January 2018 - December 2018 | N/A |
| Pfizer | Group President, Pfizer Innovative Health | June 2016 - December 2017 | N/A |
| Pfizer | Group President, Global Innovative Pharma Business | February 2016 - June 2016 | Responsible for Vaccines, Oncology, and Consumer Healthcare since 2014 |
| Pfizer | President and General Manager of Established Products Business Unit | December 2010 - December 2013 | N/A |
Fixed Compensation
| Component Name | Amount ($) | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | 1,787,500 | Annual | Fixed base salary for 2023 |
| Aircraft Usage | 154,520 | Annual | Incremental cost for personal use of company aircraft |
| Financial Counseling | 15,000 | Annual | Allowance for financial counseling, including tax preparation and estate planning |
| Car Usage | 23,733 | Annual | Incremental cost for personal use of a car and driver |
| Security | 789,495 | Annual | Additional security protection due to heightened security risks |
| Other | 2,443 | Annual | Incidental items provided in connection with Pfizer business meetings |
| Savings Plan Contributions | 16,500 | Annual | Employer contributions under the Savings Plan |
| Supplemental Savings Plan Contributions | 1,257,563 | Annual | Employer contributions under the Supplemental Savings Plan |
Performance Compensation
Performance Share Awards (PSAs)
| Metric [Unit/Scale]** | Value | Details |
|---|---|---|
| Grant Date | Feb 23, 2023 | Date the PSAs were granted |
| Grant Date Fair Value | $8,745,187 | Determined using the closing stock price on the grant date |
| Grant Date Stock Price | $42.30 | Stock price on the grant date |
| Threshold Shares | 0 shares | No payout if performance is below threshold |
| Target Shares | 206,742 shares | Target award based on performance goals |
| Maximum Shares | 413,484 shares | Cap on shares that can be earned if performance exceeds targets |
| Payout Range | 0% to 200% | Determined by achievement of adjusted net income and total shareholder return (TSR) over 2023–2025 |
| Vesting Schedule | 3 years (extendable to 5 years) | PSAs vest on the third anniversary, with an option to extend vesting to the fifth anniversary if elected |
| Performance Period | 2023–2025 | Three-year period over which performance is measured |
Total Shareholder Return Units (TSRUs)
| Metric [Unit/Scale]** | Value | Details |
|---|---|---|
| Grant Date | Feb 23, 2023 | Date the TSRUs were granted |
| Grant Date Fair Value | $8,761,683 | TSRU award fair value on the grant date |
| Grant Date Stock Price | $42.30 | Stock price on the grant date |
| Vesting Schedule | 3 years | TSRUs vest on the third anniversary and are settled on the fifth or seventh anniversary |
Non-Equity Incentive Plan Compensation
| Metric [Unit/Scale]** | Value | Details |
|---|---|---|
| Threshold Payout | $0 | Minimum payout threshold |
| Target Payout | $3,575,342 | Target bonus payout if financial goals are met |
| Maximum Payout | $8,938,355 | Maximum possible payout under the plan |
| Actual Payout | $0 | No payout was made as Pfizer did not achieve the required financial targets in 2023 |
| Performance Period | Jan 1, 2023 – Dec 31, 2023 | Evaluation period for the non-equity incentive plan |
Short-Term Incentive Bonus
| Metric [Unit/Scale]** | Value | Details |
|---|---|---|
| Actual Bonus Award | $0 | No short-term bonus awarded due to missed financial targets |
| Performance Period | 2023 | Financial performance period for short-term incentives |
This comprehensive breakdown explains the performance compensation components for 2023, including detailed metrics, targets, vesting schedules, and performance periods with exact dollar amounts and share units as available.