[Form 4] Elanco Animal Health Incorporated Insider Trading Activity

Rhea-AI Filing Summary

Jeffrey N. Simmons, President, CEO and Director of Elanco Animal Health Inc. (ELAN), acquired 150.2572 deferred stock units on 09/05/2025 at an attributable price of $18.43 each. Each deferred stock unit represents the right to receive one share of common stock or the cash equivalent, and these units settle in cash or shares following termination of employment or in a specified future year under the company’s Executive Deferral and Stock Match Plan.

Following this transaction, Mr. Simmons' beneficial ownership is reported as 17,691.9107 shares (direct). The Form 4 was signed by an attorney-in-fact on 09/09/2025. No other cash purchases, sales, or derivative exercises are reported in this filing.

Positive

• Reporting person increased reported beneficial ownership to 17,691.9107 shares via 150.2572 deferred stock units
• Transaction follows company compensation plan (Executive Deferral and Stock Match Plan), indicating structured alignment of executive pay with long-term outcomes

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: CEO received deferred stock units, aligning compensation with shareholder outcomes but settling is deferred and may be cash or shares.

The filing documents a routine executive compensation settlement in the form of 150.2572 deferred stock units, which are contractual rights to future shares or cash under the Executive Deferral and Stock Match Plan. This is a standard mechanism for retaining senior executives and aligning their pay with long-term company performance. Because settlement is deferred and may be in cash, immediate voting or dividend effects are not indicated. The disclosure is complete for the reported transaction and shows continued equity-linked compensation for the CEO.

Securities Analyst

TL;DR: Minor acquisition of deferred stock units increases reported beneficial ownership to 17,691.9107 shares; transaction appears routine and non-market-moving.

The Form 4 records an acquisition (code A) of 150.2572 deferred stock units at an attributable price of $18.43, bringing the CEO's reported direct beneficial ownership to 17,691.9107 shares. Deferred stock units settle in cash or stock after employment ends or in a specified future year, limiting near-term equity supply impact. There are no derivative exercises, open market buys/sells, or other transactions disclosed that would materially change investor valuation from this filing alone.

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^*

Simmons Jeffrey N

(Last) (First) (Middle)

C/O ELANCO ANIMAL HEALTH INCORPORATED

2500 INNOVATION WAY

(Street)

GREENFIELD IN 46140

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	PRESIDENT, CEO AND DIRECTOR

3. Date of Earliest Transaction (Month/Day/Year)
09/05/2025

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)	09/05/2025		A		150.2572		(2)	(2)	Common Stock	150.2572	$18.43	17,691.9107	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.

	/s/ Amy C. Seidel, as Attorney-in-Fact for Jeffrey N. Simmons	09/09/2025
	** 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 did ELAN CEO Jeffrey N. Simmons report on Form 4?

He acquired 150.2572 deferred stock units on 09/05/2025 at an attributable price of $18.43, raising reported beneficial ownership to 17,691.9107 shares.

What are deferred stock units in this Form 4?

Each deferred stock unit represents the right to one share of common stock or the cash equivalent and settles in cash or shares following termination of employment or during a specified future year under the Executive Deferral and Stock Match Plan.

When was the transaction and when was the Form 4 signed?

The transaction date is 09/05/2025 and the Form 4 was signed by an attorney-in-fact on 09/09/2025.

Does this filing show any open-market purchases or sales by the CEO?

No. The filing reports only the acquisition of deferred stock units and no market purchases, sales, or derivative exercises.

How will the deferred stock units be paid out?

They settle in cash or shares following termination of employment or in a specified future year as set by the company plan; the filing does not specify which settlement form will apply for these units.