GAIL BOUDREAUX - 03 Mar 2025 Form 4 Insider Report for Elevance Health, Inc. (ELV)

Role: President and CEO, Director
Signature: /s/ Kathleen S. Kiefer, Attorney in fact
Issuer symbol: ELV
Transactions as of: 03 Mar 2025
Net transactions value: -$4,111,618
Form type: 4
Filing time: 05 Mar 2025, 16:42:39 UTC
Previous filing: 23 Jul 2024
Next filing: 14 Mar 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	$4,111,618	-10,396	-8.2%	$395.50	116,313	03 Mar 2025	Direct	F1
transaction	ELV	Common Stock	Award	$0	+10,620	+9.1%	$0.000000	126,933	03 Mar 2025	Direct	F2
transaction	ELV	Common Stock	Award	$0	+15,587	+12%	$0.000000	142,520	03 Mar 2025	Direct	F3
holding	ELV	Common Stock						60	03 Mar 2025	Shares Held in Spouse's Revocable Trust

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	+40,429		$0.000000	40,429	03 Mar 2025	Common Stock	40,429	$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: 3,540 shares on 3/3/2026, 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 40,429 shares, and is exercisable in three annual installments, with two installments of 13,476 shares each and one installment of 13,477 shares, beginning on 3/3/2026, which is the one-year anniversary of the option grant date.