Elevance Health (NYSE: ELV) CAO exercises options, sells 1,531 shares

Rhea-AI Filing Summary

Elevance Health, Inc. chief accounting officer and controller Ronald W. Penczek exercised employee stock options for a total of 1,531 shares of common stock and sold 1,531 shares in an open-market transaction at $403.13 per share. Following these transactions, he directly holds 4,109 shares of Elevance Health common stock. The balance includes 10.21 shares acquired earlier through a dividend reinvestment plan.

Insider Trade Summary

Net Seller: 1,531 shares ($617,192)

Net Sell 5 txns

Insider Penczek Ronald W

Role CAO & Controller

Sold 1,531 shs ($617K)

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (Right to Buy)	654	$0.00	--
Exercise	Employee Stock Option (Right to Buy)	877	$0.00	--
Exercise	Common Stock	654	$271.27	$177K
Exercise	Common Stock	877	$311.48	$273K
Sale	Common Stock	1,531	$403.13	$617K

Holdings After Transaction: Employee Stock Option (Right to Buy) — 0 shares (Direct, null); Common Stock — 4,763 shares (Direct, null)

Footnotes (1)

1. Balance includes 10.21 shares acquired on March 25, 2026 through a dividend reinvestment plan. This transaction was executed in multiple trades, each at the same price of $403.13. Fully vested.

Key Figures

Shares sold: 1,531 shares Sale price: $403.13 per share Options exercised at $311.48: 877 shares +2 more

5 metrics

Shares sold 1,531 shares Common stock sold at $403.13 per share on May 19, 2026

Sale price $403.13 per share Open-market sale of 1,531 common shares

Options exercised at $311.48 877 shares Employee stock option exercise, fully vested

Options exercised at $271.27 654 shares Employee stock option exercise, fully vested

Post-transaction holdings 4,109 shares Direct common stock holdings after May 19, 2026 transactions

Key Terms

open-market sale, Employee Stock Option (Right to Buy), derivative security, dividend reinvestment plan

4 terms

open-market sale financial

"sold 1,531 shares in an open-market transaction at $403.13 per share"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Employee Stock Option (Right to Buy) financial

"security_title: "Employee Stock Option (Right to Buy)" for option exercises"

derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security""

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

dividend reinvestment plan financial

"shares acquired on March 25, 2026 through a dividend reinvestment plan"

A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.

Form 4 Insider Transactions: What Each Field Means →

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^*

Penczek Ronald W

(Last) (First) (Middle)

220 VIRGINIA AVENUE

(Street)

INDIANAPOLIS INDIANA 46204

(City) (State) (Zip)

UNITED STATES

(Country)

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)
	CAO & Controller

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/19/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	05/19/2026		M		654	A	$271.27	4,763(1)	D
Common Stock	05/19/2026		M		877	A	$311.48	5,640	D
Common Stock	05/19/2026		S		1,531	D	$403.13(2)	4,109	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)	$271.27	05/19/2026		M			654	(3)	03/02/2030	Common Stock	654	$0	0	D
Employee Stock Option (Right to Buy)	$311.48	05/19/2026		M			877	(3)	03/01/2031	Common Stock	877	$0	0	D

Explanation of Responses:

1. Balance includes 10.21 shares acquired on March 25, 2026 through a dividend reinvestment plan.

2. This transaction was executed in multiple trades, each at the same price of $403.13.

3. Fully vested.

Remarks:

	/s/ Kathleen S. Kiefer, Attorney in fact	05/20/2026
	** 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.
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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did Elevance Health (ELV) report for Ronald W. Penczek?

Elevance Health reported that CAO Ronald W. Penczek exercised employee stock options for 1,531 common shares and sold 1,531 shares in an open-market transaction at $403.13 per share, combining option exercises with a same-day share sale.

How many Elevance Health (ELV) shares did Ronald W. Penczek sell and at what price?

Ronald W. Penczek sold 1,531 shares of Elevance Health common stock at $403.13 per share. The filing notes the sale was executed as multiple trades, each at the same price, and classified as an open-market or private transaction.

How many Elevance Health (ELV) shares does Ronald W. Penczek hold after the reported transactions?

After the reported transactions, Ronald W. Penczek directly holds 4,109 shares of Elevance Health common stock. This post-transaction balance includes 10.21 shares previously acquired through a dividend reinvestment plan, according to the filing footnotes.

What stock options did Elevance Health (ELV) CAO exercise in this Form 4 filing?

Ronald W. Penczek exercised two employee stock option positions covering 877 shares at a $311.48 exercise price and 654 shares at $271.27. Both option positions were fully exercised, leaving zero shares remaining under those specific grants after the transactions.

Were the Elevance Health (ELV) insider transactions part of a dividend reinvestment plan?

The reported sale and option exercises were not identified as dividend reinvestment transactions. However, the filing states the remaining balance includes 10.21 shares that Ronald W. Penczek acquired earlier through a dividend reinvestment plan on March 25, 2026.