[Form 4] Elevance Health, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Mark Kaye, EVP & CFO of Elevance Health, Inc. (ELV), reported a sale of 2,895 shares of common stock on 10/02/2025 at a price of $340.24 per share. The filing states this disposition was a payment of tax liability by withholding stock related to the vesting of previously granted restricted stock. After the transaction, the reporting person beneficially owned 16,082 shares directly. The Form 4 was signed by an attorney-in-fact on 10/03/2025.

Positive

• Transaction disclosed promptly on Form 4 with transaction date 10/02/2025
• Specific reason provided: payment of tax liability by withholding for vested restricted stock

Negative

• None.

Insights

Corporate Insiders Analyst

CFO executed a routine tax-withholding sale of vested restricted stock.

The Form 4 shows a 2,895-share disposition at $340.24 on 10/02/2025 specifically described as withholding to pay taxes on vested restricted stock. This is a common, non-discretionary method insiders use to satisfy tax obligations when equity awards vest.

The report also records 16,082 shares still beneficially owned directly, which is the remaining disclosed stake after the withholding event.

Compliance & Reporting Specialist

Filing appears complete and uses standard Form 4 codes.

The transaction code F and explanation note align with a tax-withholding disposition following vesting. The Form was executed by an attorney-in-fact and includes the required post-transaction beneficial ownership figure, meeting routine Section 16(a) disclosure elements.

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).

1. Name and Address of Reporting Person^*

Kaye Mark

(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 & CFO

3. Date of Earliest Transaction (Month/Day/Year)
10/02/2025

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
Common Stock	10/02/2025		F		2,895(1)	D	$340.24	16,082	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. PAYMENT OF TAX LIABILITY BY WITHHOLDING STOCK INCIDENT TO THE VESTING OF PREVIOUSLY GRANTED RESTRICTED STOCK.

Remarks:

	/s/ Kathleen S. Kiefer, Attorney in fact	10/03/2025
	** 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 Elevance Health CFO Mark Kaye report on Form 4 (ELV)?

The filing reports a sale of 2,895 shares on 10/02/2025 at $340.24 per share to satisfy tax withholding for vested restricted stock.

How many shares does Mark Kaye beneficially own after the transaction?

The Form 4 shows 16,082 shares beneficially owned following the reported transaction.

What was the stated reason for the share disposition on the Form 4?

The filing explicitly states the disposition was a payment of tax liability by withholding stock incident to the vesting of previously granted restricted stock.

What price per share was reported for the transaction?

The reported price was $340.24 per share for the 2,895 shares disposed.

Who signed the Form 4 for the reporting person and when?

The Form 4 was signed by Kathleen S. Kiefer, Attorney in fact on 10/03/2025.