Merck & Co. insider activity
What the executives and directors of Merck & Co. actually did with their own shares, decoded from their SEC Form 4 filings. Each figure says the stretch of time it covers.
−$72M
net open-market flow, 12 m
0 open-market buys, 12 m
0%
of sale value on 10b5-1 plans, 12 m
592 days since an insider bought, whole record
The tape: three years of insider trades
Open-market buy
Discretionary sale
Planned sale (10b5-1)
Reported-price path
Routine
Every marker sits at the price reported on the Form 4. The line is the monthly median of all prices insiders reported, so the chart needs no market feed; the grey strip is the routine flow (grants, vestings, tax withholding and gifts) that a headline gets wrong by counting it as selling.
The 73 routine events on the chart, as a list
| Date | Insider | Shares |
|---|---|---|
| Aug 12, 2026 | Zachary Jennifer | 55K |
| Aug 5, 2026 | Williams David Michael | 53K |
| Aug 5, 2026 | Maraldo David R. | 19K |
| May 2, 2026 | Smart Dalton E. III | 2,406 |
| May 2, 2026 | Maraldo David R. | 711 |
| Apr 30, 2026 | Larson Betty D | 19K |
| Apr 29, 2026 | Davis Robert M | 20K |
| Apr 29, 2026 | DeLuca Richard R. | 3,759 |
| Apr 29, 2026 | Chattopadhyay Sanat | 3,727 |
| Apr 29, 2026 | Guindo Chirfi | 2,936 |
| Apr 29, 2026 | Zachary Jennifer | 4,405 |
| Apr 29, 2026 | Williams David Michael | 2,056 |
| Apr 29, 2026 | Li Dean Y | 7,048 |
| Apr 29, 2026 | Litchfield Caroline | 5,873 |
| Apr 29, 2026 | Oosthuizen Johannes Jacobus | 2,056 |
| Feb 9, 2026 | Zachary Jennifer | 122K |
| Feb 6, 2026 | Williams David Michael | 5,000 |
| Feb 4, 2026 | Li Dean Y | 15K |
| Feb 4, 2026 | Litchfield Caroline | 42K |
| Feb 4, 2026 | Smart Dalton E. III | 4,000 |
| Jan 26, 2026 | Davis Robert M | 47K |
| Jan 26, 2026 | DeLuca Richard R. | 12K |
| Jan 26, 2026 | Chattopadhyay Sanat | 14K |
| Jan 26, 2026 | Guindo Chirfi | 9,865 |
| Jan 26, 2026 | Zachary Jennifer | 12K |
| Jan 26, 2026 | Williams David Michael | 6,112 |
| Jan 26, 2026 | Li Dean Y | 20K |
| Jan 26, 2026 | Litchfield Caroline | 16K |
| Jan 26, 2026 | Oosthuizen Johannes Jacobus | 5,026 |
| Jan 26, 2026 | Romanelli Joseph | 5,703 |
| Jan 26, 2026 | Smart Dalton E. III | 1,066 |
| Aug 4, 2025 | Guindo Chirfi | 55K |
| Aug 4, 2025 | Williams David Michael | 26K |
| May 3, 2025 | Smart Dalton E. III | 4,029 |
| May 2, 2025 | Romanelli Joseph | 6,457 |
| Apr 30, 2025 | Larson Betty D | 17K |
| Apr 25, 2025 | Smart Dalton E. III | 5,000 |
| Feb 8, 2025 | Oosthuizen Johannes Jacobus | 19K |
| Jan 27, 2025 | Davis Robert M | 95K |
| Jan 27, 2025 | DeLuca Richard R. | 25K |
| Jan 27, 2025 | Chattopadhyay Sanat | 28K |
| Jan 27, 2025 | Guindo Chirfi | 28K |
| Jan 27, 2025 | Zachary Jennifer | 25K |
| Jan 27, 2025 | Williams David Michael | 10K |
| Jan 27, 2025 | Li Dean Y | 33K |
| Jan 27, 2025 | Litchfield Caroline | 23K |
| Jan 27, 2025 | Downing Cristal N | 9,446 |
| Jan 27, 2025 | Oosthuizen Johannes Jacobus | 8,664 |
| Jan 27, 2025 | Smart Dalton | 2,586 |
| Aug 5, 2024 | Guindo Chirfi | 54K |
| May 4, 2024 | Smart Dalton | 4,317 |
| May 4, 2024 | DeLuca Richard R. | 40K |
| May 4, 2024 | Klobuchar Michael A | 1,324 |
| May 4, 2024 | Oosthuizen Johannes Jacobus | 1,362 |
| May 2, 2024 | Romanelli Joseph | 3,377 |
| Feb 14, 2024 | Davis Robert M | 235K |
| Feb 14, 2024 | Litchfield Caroline | 38K |
| Feb 9, 2024 | Li Dean Y | 15K |
| Feb 2, 2024 | MIZELL STEVEN | 33K |
| Feb 2, 2024 | Zachary Jennifer | 19K |
Where the shares went, last 12 months
Every Form 4 movement decomposed: what flowed in (grants, vested equity, purchases) and what flowed out (tax withholding, plan sales, discretionary sales, gifts). Counted in shares, because grants carry no price.
The chart, in numbers
| Flow | Shares |
|---|---|
| From holdings | 94K |
| Granted | 149K |
| Vested / exercised | 365K |
| Withheld for tax | 24K |
| Discretionary sales | 584K |
Skin in the game
Directly held shares as reported after each trade, indexed to 100 at the start of the window, up to five years back. Direct holdings only: trust and family-entity positions are per-entity in the filings and do not sum honestly, so this chart refuses to guess. The steps are the trades.
The chart, in numbers
| Insider | Start of the window | Latest reported | Indexed, start = 100 |
|---|---|---|---|
| Davis Robert M | 248K | 450K | 181.9 |
| Zachary Jennifer | 53K | 46K | 85.2 |
| DeLuca Richard R. | 117K | 110K | 94.2 |
Who holds what
the 14 largest holdings of 18| Insider | Role | Shares held | Buys 12 m | Sales 12 m | 12 m | Last trade |
|---|---|---|---|---|---|---|
| Davis Robert M Chairman, CEO & President Last trade Feb 4, 2026 | CEO | 457K | – | $5.6M | net selling over the year: 0 months buying, 1 month selling | Feb 4, 2026 |
| Zachary Jennifer EVP, General Counsel Last trade Aug 12, 2026 | Officer | 112K | – | $25M | net selling over the year: 0 months buying, 2 months selling | Aug 12, 2026 |
| DeLuca Richard R. EVP&Pres, Merck Animal Heallth Last trade Aug 12, 2026 | Officer | 111K | – | $11M | net selling over the year: 0 months buying, 2 months selling | Aug 12, 2026 |
| Li Dean Y Executive VP & President, MRL Last trade Feb 10, 2026 | Officer | 97K | – | $3.0M | net selling over the year: 0 months buying, 1 month selling | Feb 10, 2026 |
| Litchfield Caroline EVP & CFO Last trade Feb 4, 2026 | CFO | 94K | – | $5.0M | net selling over the year: 0 months buying, 1 month selling | Feb 4, 2026 |
| MIZELL STEVEN EVP, Chief HR Officer Last trade Feb 2, 2024 | Officer | 42K | – | – | Feb 2, 2024 | |
| Guindo Chirfi EVP, Access, Policy & Comms Last trade Aug 13, 2026 | Officer | 37K | – | $8.2M | net selling over the year: 0 months buying, 2 months selling | Aug 13, 2026 |
| Williams David Michael EVP,Chief Info&Digital Officer Last trade Aug 5, 2026 | Officer | 36K | – | $8.1M | net selling over the year: 0 months buying, 3 months selling | Aug 5, 2026 |
| Romanelli Joseph President, Human Health Int?l Last trade Feb 13, 2024 | Officer | 29K | – | – | Feb 13, 2024 | |
| Maraldo David R. EVP & Pres. MMD Last trade Aug 5, 2026 | Officer | 25K | – | $2.4M | net selling over the year: 0 months buying, 1 month selling | Aug 5, 2026 |
| Klobuchar Michael A EVP - Chief Strategy Officer | Officer | 24K | – | – | – | |
| Oosthuizen Johannes Jacobus EVP, Oncology & Int?l Last trade Feb 6, 2026 | Officer | 23K | – | $1.8M | net selling over the year: 0 months buying, 1 month selling | Feb 6, 2026 |
| Larson Betty D EVP, Chief HR Officer | Officer | 19K | – | – | – | |
| Chattopadhyay Sanat Exe V-P & Pres. MMD Last trade Apr 13, 2023 | Officer | 16K | – | – | Apr 13, 2023 |
Open-market trade log
the 60 most recent of 421| Date | Insider | Type | Shares | Price | Value | Since trade | Filed |
|---|---|---|---|---|---|---|---|
| Aug 13, 2026 | Guindo Chirfi (Officer) 10K shares $135.00 −3.0% since trade filed Aug 13, 2026 | Discretionary sale | 10K | $135.00 | $1.4M | −3.0% | Aug 13, 2026 |
| Aug 12, 2026 | DeLuca Richard R. (Officer) 600 shares $132.04 −0.8% since trade filed Aug 12, 2026 | Discretionary sale | 600 | $132.04 | $79K | −0.8% | Aug 12, 2026 |
| Aug 12, 2026 | DeLuca Richard R. (Officer) 11K shares $131.61 −0.5% since trade filed Aug 12, 2026 | Discretionary sale | 11K | $131.61 | $1.5M | −0.5% | Aug 12, 2026 |
| Aug 12, 2026 | Zachary Jennifer (Officer) 80K shares $133.46 −1.8% since trade filed Aug 13, 2026 | Discretionary sale | 80K | $133.46 | $11M | −1.8% | Aug 13, 2026 |
| Aug 11, 2026 | DeLuca Richard R. (Officer) 5,427 shares $132.35 −1.0% since trade filed Aug 12, 2026 | Discretionary sale | 5,427 | $132.35 | $718K | −1.0% | Aug 12, 2026 |
| Aug 11, 2026 | DeLuca Richard R. (Officer) 7,410 shares $131.33 −0.3% since trade filed Aug 12, 2026 | Discretionary sale | 7,410 | $131.33 | $973K | −0.3% | Aug 12, 2026 |
| Aug 10, 2026 | DeLuca Richard R. (Officer) 21K shares $130.43 +0.4% since trade filed Aug 12, 2026 | Discretionary sale | 21K | $130.43 | $2.7M | +0.4% | Aug 12, 2026 |
| Aug 6, 2026 | DeLuca Richard R. (Officer) 300 shares $131.02 −0.0% since trade filed Aug 10, 2026 | Discretionary sale | 300 | $131.02 | $39K | −0.0% | Aug 10, 2026 |
| Aug 6, 2026 | DeLuca Richard R. (Officer) 805 shares $131.02 −0.0% since trade filed Aug 10, 2026 | Discretionary sale | 805 | $131.02 | $105K | −0.0% | Aug 10, 2026 |
| Aug 6, 2026 | DeLuca Richard R. (Officer) 4,945 shares $130.23 +0.6% since trade filed Aug 10, 2026 | Discretionary sale | 4,945 | $130.23 | $644K | +0.6% | Aug 10, 2026 |
| Aug 6, 2026 | Guindo Chirfi (Officer) 15K shares $131.00 +0.0% since trade filed Aug 7, 2026 | Discretionary sale | 15K | $131.00 | $2.0M | +0.0% | Aug 7, 2026 |
| Aug 5, 2026 | Williams David Michael (Officer) 4,600 shares $128.77 +1.7% since trade filed Aug 7, 2026 | Discretionary sale | 4,600 | $128.77 | $592K | +1.7% | Aug 7, 2026 |
| Aug 5, 2026 | Williams David Michael (Officer) 14K shares $128.77 +1.7% since trade filed Aug 7, 2026 | Discretionary sale | 14K | $128.77 | $1.7M | +1.7% | Aug 7, 2026 |
| Aug 5, 2026 | Williams David Michael (Officer) 35K shares $128.77 +1.7% since trade filed Aug 7, 2026 | Discretionary sale | 35K | $128.77 | $4.5M | +1.7% | Aug 7, 2026 |
| Aug 5, 2026 | Maraldo David R. (Officer) 2,686 shares $128.72 +1.8% since trade filed Aug 7, 2026 | Discretionary sale | 2,686 | $128.72 | $346K | +1.8% | Aug 7, 2026 |
| Aug 5, 2026 | Maraldo David R. (Officer) 6,311 shares $128.72 +1.8% since trade filed Aug 7, 2026 | Discretionary sale | 6,311 | $128.72 | $812K | +1.8% | Aug 7, 2026 |
| Aug 5, 2026 | Maraldo David R. (Officer) 9,709 shares $128.72 +1.8% since trade filed Aug 7, 2026 | Discretionary sale | 9,709 | $128.72 | $1.2M | +1.8% | Aug 7, 2026 |
| Feb 12, 2026 | Guindo Chirfi (Officer) 10K shares $121.46 +7.9% since trade filed Feb 12, 2026 | Discretionary sale | 10K | $121.46 | $1.2M | +7.9% | Feb 12, 2026 |
| Feb 10, 2026 | Li Dean Y (Officer) 10K shares $117.52 +11.5% since trade filed Feb 10, 2026 | Discretionary sale | 10K | $117.52 | $1.2M | +11.5% | Feb 10, 2026 |
| Feb 9, 2026 | Guindo Chirfi (Officer) 10K shares $118.41 +10.6% since trade filed Feb 9, 2026 | Discretionary sale | 10K | $118.41 | $1.2M | +10.6% | Feb 9, 2026 |
| Feb 9, 2026 | Zachary Jennifer (Officer) 26K shares $119.15 +10.0% since trade filed Feb 9, 2026 | Discretionary sale | 26K | $119.15 | $3.1M | +10.0% | Feb 9, 2026 |
| Feb 9, 2026 | Zachary Jennifer (Officer) 39K shares $119.15 +10.0% since trade filed Feb 9, 2026 | Discretionary sale | 39K | $119.15 | $4.6M | +10.0% | Feb 9, 2026 |
| Feb 9, 2026 | Zachary Jennifer (Officer) 57K shares $119.15 +10.0% since trade filed Feb 9, 2026 | Discretionary sale | 57K | $119.15 | $6.8M | +10.0% | Feb 9, 2026 |
| Feb 6, 2026 | DeLuca Richard R. (Officer) 38K shares $120.92 +8.3% since trade filed Feb 6, 2026 | Discretionary sale | 38K | $120.92 | $4.6M | +8.3% | Feb 6, 2026 |
| Feb 6, 2026 | Williams David Michael (Officer) 5,000 shares $121.91 +7.5% since trade filed Feb 6, 2026 | Discretionary sale | 5,000 | $121.91 | $610K | +7.5% | Feb 6, 2026 |
| Feb 6, 2026 | Oosthuizen Johannes Jacobus (Officer) 15K shares $121.87 +7.5% since trade filed Feb 6, 2026 | Discretionary sale | 15K | $121.87 | $1.8M | +7.5% | Feb 6, 2026 |
| Feb 5, 2026 | Guindo Chirfi (Officer) 20K shares $121.88 +7.5% since trade filed Feb 6, 2026 | Discretionary sale | 20K | $121.88 | $2.4M | +7.5% | Feb 6, 2026 |
| Feb 4, 2026 | Davis Robert M (CEO) 15K shares $117.38 +11.6% since trade filed Feb 6, 2026 | Discretionary sale | 15K | $117.38 | $1.8M | +11.6% | Feb 6, 2026 |
| Feb 4, 2026 | Davis Robert M (CEO) 32K shares $118.35 +10.7% since trade filed Feb 6, 2026 | Discretionary sale | 32K | $118.35 | $3.8M | +10.7% | Feb 6, 2026 |
| Feb 4, 2026 | Li Dean Y (Officer) 15K shares $118.77 +10.3% since trade filed Feb 6, 2026 | Discretionary sale | 15K | $118.77 | $1.8M | +10.3% | Feb 6, 2026 |
| Feb 4, 2026 | Litchfield Caroline (CFO) 42K shares $119.61 +9.5% since trade filed Feb 6, 2026 | Discretionary sale | 42K | $119.61 | $5.0M | +9.5% | Feb 6, 2026 |
| Feb 4, 2026 | Smart Dalton E. III (Officer) 2,400 shares $119.68 +9.5% since trade filed Feb 6, 2026 | Discretionary sale | 2,400 | $119.68 | $287K | +9.5% | Feb 6, 2026 |
| Feb 4, 2026 | Smart Dalton E. III (Officer) 4,000 shares $119.68 +9.5% since trade filed Feb 6, 2026 | Discretionary sale | 4,000 | $119.68 | $479K | +9.5% | Feb 6, 2026 |
| Nov 10, 2025 | Downing Cristal N (Officer) 7,085 shares $87.00 +50.6% since trade filed Nov 12, 2025 | Discretionary sale | 7,085 | $87.00 | $616K | +50.6% | Nov 12, 2025 |
| Nov 3, 2025 | Williams David Michael (Officer) 8,614 shares $83.59 +56.7% since trade filed Nov 4, 2025 | Discretionary sale | 8,614 | $83.59 | $720K | +56.7% | Nov 4, 2025 |
| Apr 25, 2025 | Smart Dalton E. III (Officer) 4,262 shares $82.76 +58.3% since trade filed Apr 29, 2025 | Discretionary sale | 4,262 | $82.76 | $353K | +58.3% | Apr 29, 2025 |
| Feb 19, 2025 | Oosthuizen Johannes Jacobus (Officer) 8,500 shares $84.09 +55.8% since trade filed Feb 20, 2025 | Discretionary sale | 8,500 | $84.09 | $715K | +55.8% | Feb 20, 2025 |
| Feb 13, 2025 | Williams David Michael (Officer) 6,000 shares $85.34 +53.5% since trade filed Feb 13, 2025 | Discretionary sale | 6,000 | $85.34 | $512K | +53.5% | Feb 13, 2025 |
| Feb 6, 2025 | THULIN INGE G (Director) 2,833 shares $88.25 +48.4% since trade filed Feb 7, 2025 | Open-market buy | 2,833 | $88.25 | $250K | +48.4% | Feb 7, 2025 |
| Feb 6, 2025 | Downing Cristal N (Officer) 2,361 shares $88.76 +47.6% since trade filed Feb 7, 2025 | Discretionary sale | 2,361 | $88.76 | $210K | +47.6% | Feb 7, 2025 |
| Feb 5, 2025 | BAKER DOUGLAS M JR (Director) 15K shares $88.50 +48.0% since trade filed Feb 7, 2025 | Open-market buy | 15K | $88.50 | $1.3M | +48.0% | Feb 7, 2025 |
| Feb 14, 2024 | Davis Robert M (CEO) 85K shares $125.40 +4.5% since trade filed Feb 15, 2024 | Discretionary sale | 85K | $125.40 | $11M | +4.5% | Feb 15, 2024 |
| Feb 14, 2024 | Litchfield Caroline (CFO) 38K shares $125.50 +4.4% since trade filed Feb 15, 2024 | Discretionary sale | 38K | $125.50 | $4.8M | +4.4% | Feb 15, 2024 |
| Feb 13, 2024 | Davis Robert M (CEO) 25K shares $126.37 +3.7% since trade filed Feb 15, 2024 | Discretionary sale | 25K | $126.37 | $3.2M | +3.7% | Feb 15, 2024 |
| Feb 13, 2024 | Davis Robert M (CEO) 125K shares $125.74 +4.2% since trade filed Feb 15, 2024 | Discretionary sale | 125K | $125.74 | $16M | +4.2% | Feb 15, 2024 |
| Feb 13, 2024 | Romanelli Joseph (Officer) 1,000 shares $124.89 +4.9% since trade filed Feb 14, 2024 | Discretionary sale | 1,000 | $124.89 | $125K | +4.9% | Feb 14, 2024 |
| Feb 9, 2024 | Li Dean Y (Officer) 15K shares $125.50 +4.4% since trade filed Feb 12, 2024 | Discretionary sale | 15K | $125.50 | $1.8M | +4.4% | Feb 12, 2024 |
| Feb 7, 2024 | Williams David Michael (Officer) 1,451 shares $127.57 +2.7% since trade filed Feb 8, 2024 | Discretionary sale | 1,451 | $127.57 | $185K | +2.7% | Feb 8, 2024 |
| Feb 2, 2024 | MIZELL STEVEN (Officer) 51K shares $126.65 +3.4% since trade filed Feb 2, 2024 | Discretionary sale | 51K | $126.65 | $6.4M | +3.4% | Feb 2, 2024 |
| Feb 2, 2024 | Zachary Jennifer (Officer) 49K shares $126.97 +3.2% since trade filed Feb 2, 2024 | Discretionary sale | 49K | $126.97 | $6.3M | +3.2% | Feb 2, 2024 |
| Feb 2, 2024 | Oosthuizen Johannes Jacobus (Officer) 19K shares $127.18 +3.0% since trade filed Feb 5, 2024 | Discretionary sale | 19K | $127.18 | $2.4M | +3.0% | Feb 5, 2024 |
| Nov 9, 2023 | Oosthuizen Johannes Jacobus (Officer) 2,081 shares $102.38 +28.0% since trade filed Nov 13, 2023 | Discretionary sale | 2,081 | $102.38 | $213K | +28.0% | Nov 13, 2023 |
| Nov 8, 2023 | DeLuca Richard R. (Officer) 44K shares $105.03 +24.7% since trade filed Nov 9, 2023 | Discretionary sale | 44K | $105.03 | $4.6M | +24.7% | Nov 9, 2023 |
| Aug 14, 2023 | MIZELL STEVEN (Officer) 4,250 shares $109.01 +20.2% since trade filed Aug 15, 2023 | Discretionary sale | 4,250 | $109.01 | $463K | +20.2% | Aug 15, 2023 |
| Aug 3, 2023 | MIZELL STEVEN (Officer) 4,500 shares $105.49 +24.2% since trade filed Aug 4, 2023 | Discretionary sale | 4,500 | $105.49 | $475K | +24.2% | Aug 4, 2023 |
| Aug 2, 2023 | Romanelli Joseph (Officer) 30 shares $107.37 +22.0% since trade filed Aug 3, 2023 | Discretionary sale | 30 | $107.37 | $3K | +22.0% | Aug 3, 2023 |
| Aug 2, 2023 | Romanelli Joseph (Officer) 59 shares $107.37 +22.0% since trade filed Aug 3, 2023 | Discretionary sale | 59 | $107.37 | $6K | +22.0% | Aug 3, 2023 |
| May 4, 2023 | Karachun Rita A (Officer) 16K shares $117.53 +11.5% since trade filed May 5, 2023 | Discretionary sale | 16K | $117.53 | $1.9M | +11.5% | May 5, 2023 |
| May 4, 2023 | Zachary Jennifer (Officer) 19K shares $117.59 +11.4% since trade filed May 5, 2023 | Discretionary sale | 19K | $117.59 | $2.3M | +11.4% | May 5, 2023 |
| May 3, 2023 | MIZELL STEVEN (Officer) 12K shares $119.01 +10.1% since trade filed May 5, 2023 | Planned sale (10b5-1) | 12K | $119.01 | $1.4M | +10.1% | May 5, 2023 |
“Since trade” compares with the latest insider-implied price, not a market quote: these pages are built from filings alone. A role here is the one on that day's Form 4, so somebody promoted since appears under both titles.
Filing hygiene
220 Forms 4, 3 years
0 filed late
2 amendments
1.5 avg. days to file
How to read this
A Form 4 transaction code decides everything. P is an open-market purchase and S an open-market sale; those two are the only codes where an insider chose to trade. A is a grant, M an option exercise or vesting, F shares withheld to cover tax, G a gift. Most “insiders dumped billions” headlines are code F and M mechanics.
Sales flagged 10b5-1 run on a plan the insider adopted in advance; since 2023 every Form 4 carries that flag. Buys have historically predicted returns, sales mostly have not, and this page states filings, not advice.