Elevance Health (ELV) EVP receives stock grants and withholds shares for taxes

Rhea-AI Filing Summary

Elevance Health EVP & Chief Digital Information Officer Ratnakar Lavu reported multiple equity compensation transactions. He received a grant of employee stock options covering 20,152 shares at an exercise price of $0.00 per share, exercisable in three installments beginning on 3/2/2027. He also acquired 5,101 and 6,802 shares that the footnotes describe as restricted share units with restrictions lapsing between 3/2/2027 and 3/2/2029. In separate transactions, 222 shares at $284.03 per share and 315 shares at $294.07 per share were withheld as common stock to satisfy tax liabilities on previously granted restricted stock vesting, rather than open-market sales.

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^*

LAVU RATNAKAR

(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 Digital Info 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		315(1)	D	$294.07	4,468	D
Common Stock	03/02/2026		A		5,101(2)	A	$0	9,569	D
Common Stock	03/02/2026		A		6,802(3)	A	$0	16,371	D
Common Stock	03/03/2026		F		222(1)	D	$284.03	16,149	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		20,152		(4)	03/02/2036	Common Stock	20,152	$0	20,152	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: 1,700 shares each on 3/2/2027 and 3/2/2028, and 1,701 on 3/2/2029.

3. Represents restricted share units. Restrictions lapse as follows: 3,401 shares each on 3/2/2027 and 3/2/2028.

4. The option represents a right to purchase a total of 20,152 shares, and is exercisable in two installments of 6,717 shares each and one installment of 6,718 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) executive Ratnakar Lavu report?

Ratnakar Lavu reported new equity awards and tax-related share withholdings. He received option and restricted share unit grants, while shares of common stock were withheld to cover tax liabilities from vesting restricted stock, rather than sold on the open market.

How many stock options were granted to Elevance Health EVP Ratnakar Lavu?

He was granted employee stock options covering 20,152 shares of Elevance Health common stock. The option becomes exercisable in three installments starting on 3/2/2027, according to the footnote describing the vesting schedule for this equity award.

What restricted share unit awards did Ratnakar Lavu receive at Elevance Health (ELV)?

He received restricted share units corresponding to 5,101 shares and 6,802 shares of common stock. Footnotes state restrictions lapse in tranches on 3/2/2027, 3/2/2028, and 3/2/2029, providing a multi-year vesting schedule for these equity compensation awards.

Were the share dispositions by Elevance Health EVP Ratnakar Lavu open-market sales?

The dispositions were not open-market sales; they were tax-withholding events. A total of 222 and 315 shares of common stock were withheld to pay tax liabilities associated with vesting of previously granted restricted stock, as indicated by the transaction code F and related footnote.

At what prices were Elevance Health (ELV) shares withheld for Ratnakar Lavu’s tax obligations?

Shares were withheld at $284.03 per share for 222 shares and $294.07 per share for 315 shares. These transactions reflect stock withheld to satisfy tax liabilities tied to vesting restricted stock, not discretionary market sales by the executive.

When do Ratnakar Lavu’s new Elevance Health options become exercisable?

The option for 20,152 shares becomes exercisable in three installments starting on 3/2/2027. Footnotes explain two installments of 6,717 shares and one of 6,718 shares, beginning on the one-year anniversary of the option grant date.