Charles Morgan Kendrick Jr. - 03 Mar 2025 Form 4 Insider Report for Elevance Health, Inc. (ELV)

Role: EVP & President, Commercial
Signature: /s/ Kathleen S. Kiefer, Attorney in fact
Issuer symbol: ELV
Transactions as of: 03 Mar 2025
Net transactions value: -$2,267,041
Form type: 4
Filing time: 05 Mar 2025, 17:52:53 UTC
Previous filing: 05 Nov 2024
Next filing: 04 Mar 2026
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	$878,406	-2,221	-24%	$395.50	7,089	03 Mar 2025	Direct	F1
transaction	ELV	Common Stock	Award	$0	+2,845	+40%	$0.000000	9,934	03 Mar 2025	Direct	F2
transaction	ELV	Common Stock	Award	$0	+3,686	+37%	$0.000000	13,620	03 Mar 2025	Direct	F3
transaction	ELV	Common Stock	Sale	$1,388,635	-3,504	-26%	$396.30	10,116	05 Mar 2025	Direct	F4, F5

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	+10,828		$0.000000	10,828	03 Mar 2025	Common Stock	10,828	$395.50	Direct	F6

* 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: 948 shares each on 3/3/2026 and 3/3/2027, and 949 shares on 3/3/2028.
F3	Represents performance based restricted share units. Restrictions lapse on 3/3/2025.
F4	This transaction was executed in multiple trades, each at the same price of $396.30.
F5	Balance includes 22.89 shares acquired on December 20, 2024 through a dividend reinvestment plan.
F6	The option represents a right to purchase a total of 10,828 shares, and is exercisable in three annual installments, with two installments of 3,609 shares each and one installment of 3,610 shares, beginning on 3/3/2026, which is the one-year anniversary of the option grant date.