Elanco (ELAN) executive receives grant of 1,360 deferred stock units

Rhea-AI Filing Summary

Modi Rajeev A. reported acquisition or exercise transactions in this Form 4 filing.

Elanco Animal Health executive Rajeev A. Modi received a grant of 1,360.2363 deferred stock units on Company common stock as compensation. The grant was valued at $23.36 per unit and increased his directly held deferred stock units to 9,011.3277.

Each deferred stock unit represents the right to receive either one share of Elanco common stock or the cash equivalent. These units will settle in cash or shares after termination of employment or in a specified future year under the company’s Executive Deferral and Stock Match Plan, making this a routine, non‑market award rather than an open‑market purchase.

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
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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)
03/06/2026

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)	03/06/2026		A		1,360.2363		(2)	(2)	Common Stock	1,360.2363	$23.36	9,011.3277	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	03/10/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

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

Elanco Animal Health reported that executive Rajeev A. Modi received a grant of 1,360.2363 deferred stock units. These units are a form of equity-based compensation tied to Elanco common stock, not an open-market share purchase or sale.

How many deferred stock units does Rajeev A. Modi hold after this Elanco (ELAN) Form 4?

After the grant, Rajeev A. Modi directly holds 9,011.3277 deferred stock units. This figure reflects his updated position in this compensation-linked instrument as reported in the Form 4 filing with the SEC.

At what value were Rajeev A. Modi’s new Elanco (ELAN) deferred stock units granted?

The 1,360.2363 deferred stock units granted to Rajeev A. Modi were valued at $23.36 per unit. This price is used for the award calculation and does not represent an open-market trade execution.

Do Elanco (ELAN) deferred stock units represent actual shares for Rajeev A. Modi?

Each deferred stock unit represents the right to receive one Elanco common share or the cash equivalent. The units are a promise of future settlement rather than immediate share ownership like standard stock purchases.

When will Rajeev A. Modi’s Elanco (ELAN) deferred stock units be settled?

The deferred stock units will settle in cash or Elanco common shares after termination of employment or in a specified future year. Settlement timing follows the company’s Executive Deferral and Stock Match Plan rules described in the filing.

Is Rajeev A. Modi’s Elanco (ELAN) Form 4 transaction a buy or a compensation grant?

The Form 4 shows a compensation grant, not a market buy. The transaction is coded as an award of deferred stock units, classified as a grant or other acquisition rather than an open-market purchase of Elanco shares.