Elanco Animal Health (NYSE: ELAN) EVP reports new deferred stock units

Rhea-AI Filing Summary

Elanco Animal Health executive Rajeev A. Modi reported an automatic award of deferred stock units tied to company stock. On 11/28/2025, he acquired 60.7916 deferred stock units at a reference price of $23.27. After this transaction, he beneficially owns 7,291.0368 derivative securities in the form of deferred stock units held directly.

Each deferred stock unit represents the right to receive either one share of Elanco common stock or the cash equivalent. These units are scheduled to settle in cash or shares of common stock after Modi’s employment ends or in a specified future year under the company’s Executive Deferral and Stock Match Plan. Modi serves as Executive Vice President U.S. Pet Health and Global Digital Transformation, and this filing reflects his ongoing equity-based compensation.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Modi Rajeev A.

(Last) (First) (Middle)

C/O ELANCO ANIMAL HEALTH INCORPORATED

450 ELANCO CIRCLE

(Street)

INDIANAPOLIS IN 46221

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Elanco Animal Health Inc [ ELAN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SEE REMARKS

3. Date of Earliest Transaction (Month/Day/Year)
11/28/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Deferred Stock Units	(1)	11/28/2025		A		60.7916		(2)	(2)	Common Stock	60.7916	$23.27	7,291.0368	D

Explanation of Responses:

1. Each deferred stock unit represents the right to receive one share of Company common stock or the cash equivalent.

2. Deferred stock units settle in cash or shares of Company common stock following termination of employment or during a specified future year in accordance with Executive Deferral and Stock Match Plan.

Remarks:

Executive Vice President U.S. Pet Health and Global Digital Transformation

	/s/ Amy C. Seidel, as Attorney-in-Fact for Rajeev A. Modi	12/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Elanco Animal Health (ELAN) report for Rajeev A. Modi?

Elanco Animal Health reported that Executive Vice President Rajeev A. Modi acquired 60.7916 deferred stock units tied to Elanco common stock on 11/28/2025.

What are the terms of the deferred stock units reported for ELAN executive Rajeev A. Modi?

Each deferred stock unit gives Modi the right to receive one share of Elanco common stock or the cash equivalent, in line with the company’s Executive Deferral and Stock Match Plan.

When will Rajeev A. Modi’s Elanco deferred stock units settle?

The deferred stock units will settle in cash or shares of Elanco common stock after his termination of employment or during a specified future year, as provided under the Executive Deferral and Stock Match Plan.

How many derivative securities does Rajeev A. Modi beneficially own after this ELAN transaction?

Following the reported transaction, Rajeev A. Modi beneficially owns 7,291.0368 deferred stock units, held directly.

What was the reference price for the Elanco deferred stock units granted to Rajeev A. Modi?

The deferred stock units were reported with a reference price of $23.27 per unit.

What is Rajeev A. Modi’s role at Elanco Animal Health (ELAN)?

Rajeev A. Modi serves as Elanco’s Executive Vice President U.S. Pet Health and Global Digital Transformation, and the reported deferred stock units relate to his executive compensation.