Deferred stock units granted to Elanco Animal Health (ELAN) executive

Rhea-AI Filing Summary

Elanco Animal Health executive Rajeev A. Modi reported an award of deferred stock units. On 01/09/2026, he acquired 60.2735 deferred stock units at a value of $23.47 per unit, classified as a derivative security and held directly.

Following this transaction, Modi beneficially owned a total of 7,480.3494 deferred stock units. Each deferred stock unit represents the right to receive one share of Elanco common stock or the cash equivalent, and these units 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.

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)
01/09/2026

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)	01/09/2026		A		60.2735		(2)	(2)	Common Stock	60.2735	$23.47	7,480.3494	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	01/13/2026
	** 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.
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FAQ

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

Rajeev A. Modi, an officer of Elanco Animal Health Inc., reported acquiring 60.2735 deferred stock units on 01/09/2026 under a company plan.

What are the terms of the deferred stock units reported by ELAN?

Each deferred stock unit gives the right to receive one share of Elanco common stock or the cash equivalent, as described in the filing footnotes.

How many deferred stock units does Rajeev A. Modi hold after this ELAN transaction?

After the reported transaction, Rajeev A. Modi beneficially owned 7,480.3494 deferred stock units, held in direct form.

At what value were the ELAN deferred stock units granted to Rajeev A. Modi?

The 60.2735 deferred stock units acquired by Rajeev A. Modi were valued at $23.47 per unit on the transaction date.

When do the ELAN deferred stock units for Rajeev A. Modi settle?

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

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

Rajeev A. Modi is identified as an officer of Elanco with the title Executive Vice President U.S. Pet Health and Global Digital Transformation, as noted in the remarks.