Elevance Health (ELV) EVP reports new stock grants and option award

Rhea-AI Filing Summary

Elevance Health, Inc. executive Felicia F. Norwood reported equity compensation activity and related tax-withholding transactions. She received grants of 5,951 common shares and 2,865 performance-based restricted share units, plus an employee stock option covering 23,512 shares with future vesting installments.

To satisfy tax liabilities upon vesting of previously granted restricted stock, 496 common shares at $284.03 per share and 1,421 common shares at $294.07 per share were disposed of through stock withholding rather than open-market sales. Following these transactions, she directly owned 38,838 common shares.

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

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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^*

Norwood Felicia F

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP &Chief Health Benefits Ofr

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

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	03/02/2026		F		1,421(1)	D	$294.07	30,518	D
Common Stock	03/02/2026		A		5,951(2)	A	$0	36,469	D
Common Stock	03/02/2026		A		2,865(3)	A	$0	39,334	D
Common Stock	03/03/2026		F		496(1)	D	$284.03	38,838	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
Employee Stock Option (Right to Buy)	$294.07	03/02/2026		A		23,512		(4)	03/02/2036	Common Stock	23,512	$0	23,512	D

Explanation of Responses:

1. PAYMENT OF TAX LIABILITY BY WITHHOLDING STOCK INCIDENT TO THE VESTING OF PREVIOUSLY GRANTED RESTRICTED STOCK.

2. Represents restricted share units. Restrictions lapse as follows: 1,983 shares on 3/2/2027, and 1,984 shares each on 3/2/2028 and 3/2/2029.

3. Represents performance based restricted share units. Restrictions lapsed on 3/2/2026.

4. The option represents a right to purchase a total of 23,512 shares, and is exercisable in two installments of 7,837 shares each and one installment of 7,838 shares, beginning on 3/2/2027, which is the one-year anniversary of the option grant date.

Remarks:

	/s/ Kathleen S. Kiefer, Attorney in fact	03/04/2026
	** 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).
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FAQ

What insider transactions did Elevance Health (ELV) report for Felicia F. Norwood?

Felicia F. Norwood reported equity grants and related tax-withholding dispositions. She received new common shares, performance-based restricted share units, and an employee stock option, while shares were withheld to cover tax liabilities from vesting restricted stock.

How many Elevance Health (ELV) shares were disposed of for tax withholding?

A total of 1,917 Elevance Health common shares were disposed of for tax withholding, including 496 shares at $284.03 and 1,421 shares at $294.07, to satisfy tax liabilities on vesting restricted stock awards.

What new stock option did Felicia F. Norwood receive from Elevance Health (ELV)?

She received an employee stock option for 23,512 Elevance Health shares. The option is exercisable in two installments of 7,837 shares and one of 7,838 shares, beginning on March 2, 2027, the one-year anniversary of the grant date.

What restricted share units did Felicia F. Norwood receive from Elevance Health (ELV)?

She received restricted share units with restrictions lapsing on 1,983 shares on March 2, 2027 and 1,984 shares on each of March 2, 2028 and March 2, 2029, reflecting multi-year equity compensation vesting schedules.

How many Elevance Health (ELV) shares does Felicia F. Norwood hold after these transactions?

After the reported equity grants and tax-withholding dispositions, Felicia F. Norwood directly held 38,838 Elevance Health common shares, according to the Form 4 ownership figures following the latest transaction.

Were Felicia F. Norwood’s Elevance Health (ELV) share dispositions open-market sales?

No, the dispositions were for tax withholding. Shares were withheld to pay tax liabilities incident to the vesting of previously granted restricted stock, not discretionary open-market sales of Elevance Health shares.