Pfizer Filed SEC Form 25

Why do companies file Form 25?

Companies may deem it too unviable to have their stocks listed, as legal and compliance costs associated with the listing may outweigh the benefits arising out of a listing.

When a company goes out of business, delisting is a natural corollary.


Summarizing The Major Reasons For Delisting

  • Bankruptcy.
  • Absence of trading or negligible trading.
  • Non-compliance with ongoing listing standards.
  • Company going private.
  • Costs related to listing outweigh the benefits associated with the listing.



About GShep


  1. FORM 25
    Commission File Number 001-03619
    Issuer: PFIZER INC

  2. As Metternich said when told that Talleyrand had died:
    “I wonder what he means by that…”

  3. Nate Trost says

    Your link doesn’t work, but the filing is available on Pfizer’s investor relations site:

    It has nothing to do with Pfizer’s stock. Form 25 is also used for retiring bonds. If you look at the Form 25 filing, it specifies 0.250% Notes due 2022. It doesn’t affect their common stock or their 1.0% notes (due 2027).

  4. Christopher Keller says

    Your link appears to point to a local file, which is not accessible. The PDF can be found here:

    It seems this form is also used when bonds reach maturity, as in this case. Those bonds are simply no longer being used, as they have all been redeemed.

    • Gail Sheppard says

      I just tried this link and have no problem bringing it up. Copy and paste the link and try again. (Interestingly, it doesn’t look at all like what you just posted.)


      • It worked because it’s on your own local computer.

        • Gail Sheppard says

          Looking back, what I copied pasted from the Internet was NOT the saved document that I am only now seeing in the approved comments. In fact, I knew I couldn’t do that in comments. (I can only upload a pdf file in a “post.” and it requires I upload it a specific way.)

          I know this sounds crazy but I would have seen the link which had my own name in it when I posted the comment. But that is NOT what I put in my comment.

          • I have trouble where there are multiple ways to do copy pasting (eg right click method), and sometimes when I do them, the right selection that I intend is not pasted. Other times I think I typed one thing in a comments box and made an error.
            Just go back and fix the links if you can.
            Wishing you the best.

      • Gail, the link you posted appears to be to a file stored
        on the ‘C’ drive on your computer – which is the main hard drive partition
        of a Windows computer containing the system files and user files;
        to which drive I guess you downloaded the pdf of the Form 25.

        What Christopher posted is a weblink which connects to the primary document
        on the SEC website where the original pdf is located.

      • Use Christopher’s link because it’s online.
        C: URLs are just within your own hard drive. Only Govt and hackers can read them there. ๐Ÿ˜‰

      • Not sure if you’ve read the Pfizer report with the # of injuries/deaths during the trial (I’m sure you have), I passed it along to my mom who’s an RN for her to read. Luckily she lives in a deep Red state and was able to avoid the mandatories stabbies. Her and many medical personnel refused, rightly, from the onset to get the vax. She’s been hearing that there has been a big rise in youth/young adult cardia problems (unsurprisingly)

  5. “C:” is your local PC’s hard drive. We can’t get the file because the link points to c: and not to the web.

    When I searched for the file name “pfizer-stock-mkt-3-8-22.pdf” I got a document saying they had all been redeemed, as Christopher wrote.

    • Gail Sheppard says

      If you go to your browser and type in Pfizer Form 25, this link should be one of the top two or three:

      I have never clicked on a link in a browser and had something download into my hard drive before but if you say this is what happened, I believe you. I am not a techie! Far from it.

      • It’s downloading to your computer because the link includes a file. In this case the file is “pfizer-stock-mkt-3-8-22.pdf”, an adobe portable document format (PDF) file.

        • Gail Sheppard says

          The link was just a pdf which I did download to my system. But the link from the browser was different. That’s what I used and then it pulled the document in my files, I guess because that’s what everyone is telling me.

          When I submitted my “reply” it had the URL from the browser. However, when I see it now in all your comments, I can clearly see it’s my file as it has my name in it!

          But that’s not what I entered. Weird, huh?

  6. This is likely BS… this were true… 1000s of Wall Street market analysis, broker blogs, etc would be reporting it but it not to be found on any of them.. Wall Street don’t give a rats arse about corporate ethical issues. Understandably they are only worried about the security and growth of their investments. If this were true, then Wall Street would not be utterly quiet . Likely some cretin who is clueless about finance and NASDAQ started this rumor

  7. From what I can gather, the filing was related to a subclass of Pfizer securities. Pfizer itself closed at 50.25 today and is still listed. Here’s a story about it but you have to read the whole thing to get the gist. The headline and initial commentary are misleading.