Elanco (NYSE: ELAN) executive receives new deferred stock unit grant

Q: What insider transaction did Elanco (ELAN) report for Rajeev A. Modi?

Elanco reported that executive Rajeev A. Modi acquired 61.5901 deferred stock units . These units are tied to Elanco common stock and were granted as compensation, not bought on the open market, under the company’s Executive Deferral and Stock Match Plan.

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

After the reported grant, Rajeev A. Modi holds a total of 9,072.9178 deferred stock units . This total reflects his accumulated awards under Elanco’s compensation programs, as disclosed in the Form 4 insider transaction filing.

Q: Is the Elanco (ELAN) Form 4 transaction a stock purchase or sale?

The Form 4 shows an acquisition through a grant , not a market purchase or sale. Modi received 61.5901 deferred stock units as compensation, classified as a “Grant, award, or other acquisition” rather than an open-market trade.

Q: What is the significance of the $23.98 value for Elanco (ELAN) deferred stock units?

The Form 4 lists a value of $23.98 per deferred stock unit for this grant. This figure is used for reporting purposes in the compensation award and does not represent an open-market purchase price by Rajeev A. Modi.

Q: Does the Elanco (ELAN) insider grant give immediate shares to Rajeev A. Modi?

No, the grant provides deferred stock units , not immediate shares. These units convert into either Elanco common stock or cash at a later time, generally following termination of employment or a future year specified under the company’s deferral plan.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

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 61.5901 deferred stock units tied to common stock. These units are part of an Executive Deferral and Stock Match Plan and will settle in cash or shares after employment ends or in a specified future year. Following this award, Modi holds 9,072.9178 deferred stock units.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Modi Rajeev A.

Role SEE REMARKS

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units	61.5901	$23.98	$1K

Holdings After Transaction: Deferred Stock Units — 9,072.9178 shares (Direct)

Footnotes (2)

F1. Each deferred stock unit represents the right to receive one share of Company common stock or the cash equivalent.
F2. 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.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 03/24/2026 - 04:43 PM

FAQ

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

Elanco reported that executive Rajeev A. Modi acquired 61.5901 deferred stock units. These units are tied to Elanco common stock and were granted as compensation, not bought on the open market, under the company’s Executive Deferral and Stock Match Plan.

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

After the reported grant, Rajeev A. Modi holds a total of 9,072.9178 deferred stock units. This total reflects his accumulated awards under Elanco’s compensation programs, as disclosed in the Form 4 insider transaction filing.

Is the Elanco (ELAN) Form 4 transaction a stock purchase or sale?

The Form 4 shows an acquisition through a grant, not a market purchase or sale. Modi received 61.5901 deferred stock units as compensation, classified as a “Grant, award, or other acquisition” rather than an open-market trade.

How do Elanco (ELAN) deferred stock units reported for Rajeev Modi settle?

Each deferred stock unit represents the right to receive one share of Elanco common stock or cash. According to the filing, the units settle after termination of employment or in a specified future year under the Executive Deferral and Stock Match Plan.

What is the significance of the $23.98 value for Elanco (ELAN) deferred stock units?

The Form 4 lists a value of $23.98 per deferred stock unit for this grant. This figure is used for reporting purposes in the compensation award and does not represent an open-market purchase price by Rajeev A. Modi.

Does the Elanco (ELAN) insider grant give immediate shares to Rajeev A. Modi?

No, the grant provides deferred stock units, not immediate shares. These units convert into either Elanco common stock or cash at a later time, generally following termination of employment or a future year specified under the company’s deferral plan.

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

INDIANA

46221

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/20/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Deferred Stock Units	⁽¹⁾	03/20/2026		A		61.5901		⁽²⁾	⁽²⁾	Common Stock	61.5901	$23.98	9,072.9178	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	03/24/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR