Elevance Health (ELV) legal chief receives stock awards, withholds shares for tax

Rhea-AI Filing Summary

Elevance Health EVP & Chief Legal Officer Erin M. Wessling reported equity compensation changes. On March 2, 2026, she received 2,976 shares of common stock as restricted share units and an option for 11,754 shares, vesting in three annual installments starting March 2, 2027. On March 3, 2026, 417 shares of common stock were disposed of at $284.03 per share to cover tax withholding upon vesting of previously granted restricted stock, leaving her with 7,579 common shares held directly.

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^*

Wessling Erin M

(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 Legal Officer

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		A		2,976(1)	A	$0	7,996	D
Common Stock	03/03/2026		F		417(2)	D	$284.03	7,579	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		11,754		(3)	03/02/2036	Common Stock	11,754	$0	11,754	D

Explanation of Responses:

1. Represents restricted share units. Restrictions lapse as follows: 992 shares on 3/2/2027, 3/2/2028 and 3/2/2029.

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

3. The option represents a right to purchase a total of 11,754 shares, and is exercisable in three annual installments, each installment of 3,918 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.
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FAQ

What insider transactions did Elevance Health (ELV) report for Erin M. Wessling?

Erin M. Wessling received new equity awards and had shares withheld for taxes. She was granted 2,976 restricted stock units and an option for 11,754 shares, while 417 shares were disposed of to satisfy tax withholding obligations tied to prior awards.

How many Elevance Health (ELV) shares did Erin M. Wessling acquire in this Form 4?

She acquired 2,976 shares of common stock as restricted share units and an employee stock option covering 11,754 shares. These awards represent equity compensation grants rather than open-market purchases, with vesting and exercisability spread over multiple years as disclosed.

Why were 417 Elevance Health (ELV) shares disposed of in the filing?

The 417 shares were withheld to pay tax liabilities arising from the vesting of previously granted restricted stock. This tax-withholding disposition is reported under transaction code “F” and does not represent an open-market sale, but a share reduction to cover taxes due.

What are the vesting terms of Erin M. Wessling’s new Elevance Health (ELV) stock options?

The option covers 11,754 shares and vests in three equal annual installments of 3,918 shares. Vesting begins on March 2, 2027, which is the one-year anniversary of the grant date, as specified in the footnote describing the award’s exercisability schedule.

When do Erin M. Wessling’s new restricted share units in Elevance Health (ELV) vest?

The restricted share units vest in three equal annual tranches. Restrictions lapse on 992 shares each on March 2, 2027, March 2, 2028, and March 2, 2029, providing a staggered vesting schedule tied to continued service over this three-year period.

How many Elevance Health (ELV) common shares does Erin M. Wessling hold after these transactions?

Following the reported transactions, she holds 7,579 shares of Elevance Health common stock directly. This figure reflects the impact of the 2,976-share grant and the 417-share tax-withholding disposition, as disclosed in the post-transaction ownership totals in the report.