Elevance Health director granted 218 stock units

Elevance Health, Inc. director Amy W. Schulman reported an acquisition of 218 shares of Company common stock on February 2, 2026.

Rhea-AI Filing Summary

Elevance Health, Inc. director Amy W. Schulman reported an acquisition of 218 shares of Company common stock on February 2, 2026. The Form 4 shows these as an "A" transaction at a price of $0 per share, held as direct ownership after the transaction.

The 218 shares reflect phantom stock units accrued under Elevance Health’s Board of Directors Compensation Program. According to the terms, these phantom stock units will be settled in Company common stock on the earlier of five years after the preceding annual shareholder meeting or when Schulman ceases to serve on the board, unless she has elected a later deferral date.

Insider Trade Summary

Grant/Award: 218 shares

Grant/Award 1 txn

Insider SCHULMAN AMY W

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	218	$0.00	$0.00

Holdings After Transaction: Common Stock — 218 shares (Direct)

Footnotes (2)

1. F1. Phantom Stock units accrued under the Elevance Health, Inc. ("Company") Board of Directors Compensation Program.
2. F2. The phantom stock units shall be payable in Company common stock upon the first to occur of (a) five years from the date of the annual meeting of shareholders that immediately precedes the Director's election date or (b) the date the Reporting Person ceases to be a member of the Company's board of directors, unless a later date is designated in the Reporting Person's election made under the Company's Board of Directors Deferred Compensation Plan.

FAQ

What insider transaction did Elevance Health (ELV) report for Amy W. Schulman?

Elevance Health reported that director Amy W. Schulman acquired 218 shares of common stock on February 2, 2026. The transaction was coded as an acquisition at $0 per share, tied to the company’s Board of Directors compensation structure.

How many Elevance Health (ELV) shares does Amy W. Schulman hold after this Form 4?

After the reported transaction, Amy W. Schulman beneficially owns 218 shares of Elevance Health common stock. These shares are recorded as direct ownership, representing phantom stock units payable in stock under the Board of Directors Compensation Program.

What are the phantom stock units mentioned in Elevance Health (ELV) director compensation?

The filing states that the award represents phantom stock units accrued under Elevance Health’s Board of Directors Compensation Program. These units track the value of common stock and are designed to be settled later in actual company shares rather than immediate cash.

When will Amy W. Schulman’s Elevance Health (ELV) phantom stock units be paid out?

The phantom stock units will be paid in Elevance Health common stock on the earlier of five years from the shareholder meeting preceding her election or the date she leaves the board, unless she has chosen a later date under the deferred compensation plan.

Did Amy W. Schulman pay cash for the 218 Elevance Health (ELV) shares reported?

No cash payment was reported for this transaction. The Form 4 lists the 218 acquired shares at a price of $0 per share, reflecting phantom stock units granted as part of Elevance Health’s Board of Directors Compensation Program rather than an open-market purchase.

Is Amy W. Schulman considered a major shareholder of Elevance Health (ELV) in this filing?

In this filing, Amy W. Schulman is identified as a director of Elevance Health and not as a 10% owner. The reported beneficial ownership after the transaction is 218 shares of common stock, held directly through phantom stock units.

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Accepted by SEC EDGAR 02/03/2026 - 04:42 PM Learn about SEC filing dates

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^*

SCHULMAN AMY W

(Last) (First) (Middle)

220 VIRGINIA AVENUE

(Street)

INDIANAPOLIS IN 46204

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Elevance Health, Inc. [ ELV ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/02/2026

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
Common Stock	02/02/2026		A		218(1)(2)	A	$0	218	D

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

Explanation of Responses:

1. Phantom Stock units accrued under the Elevance Health, Inc. ("Company") Board of Directors Compensation Program.

2. The phantom stock units shall be payable in Company common stock upon the first to occur of (a) five years from the date of the annual meeting of shareholders that immediately precedes the Director's election date or (b) the date the Reporting Person ceases to be a member of the Company's board of directors, unless a later date is designated in the Reporting Person's election made under the Company's Board of Directors Deferred Compensation Plan.

Remarks:

	/s/ Kathleen S. Kiefer, Attorney in fact	02/03/2026
	** 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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