Felicia F. Norwood - 03 Mar 2025 Form 4 Insider Report for Elevance Health, Inc. (ELV)

Role: EVP & President,Gov Health Ben
Signature: /s/ Kathleen S. Kiefer, Attorney in fact
Issuer symbol: ELV
Transactions as of: 03 Mar 2025
Net transactions value: -$1,033,442
Form type: 4
Filing time: 05 Mar 2025, 16:50:35 UTC
Previous filing: 02 May 2024
Next filing: 01 May 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ELV	Common Stock	Tax liability	$1,033,442	-2,613	-9.6%	$395.50	24,691	03 Mar 2025	Direct	F1
transaction	ELV	Common Stock	Award	$0	+3,035	+12%	$0.000000	27,726	03 Mar 2025	Direct	F2
transaction	ELV	Common Stock	Award	$0	+4,213	+15%	$0.000000	31,939	03 Mar 2025	Direct	F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ELV	Employee Stock Option (Right to Buy)	Award	$0	+11,549		$0.000000	11,549	03 Mar 2025	Common Stock	11,549	$395.50	Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	PAYMENT OF TAX LIABILITY BY WITHHOLDING STOCK INCIDENT TO THE VESTING OF PREVIOUSLY GRANTED RESTRICTED STOCK.
F2	Represents restricted share units. Restrictions lapse as follows: 1,011 shares on 3/3/2026, and 1,012 shares each on 3/3/2027 and 3/3/2028.
F3	Represents performance based restricted share units. Restrictions lapse on 3/3/2025.
F4	The option represents a right to purchase a total of 11,549 shares, and is exercisable in three annual installments, with one installment of 3,849 shares and two installments of 3,850 shares each, beginning on 3/3/2026, which is the one-year anniversary of the option grant date.