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

Rhea-AI Filing Summary

Susan D. DeVore, a director of Elevance Health, reported purchases of common stock totaling 1,200 shares on 08/19/2025 at a weighted average price of $312.15 per share. After these purchases she beneficially owned 3,502 shares directly. The filing specifies the purchases were executed in multiple trades at prices between $312.06 and $312.19, and the weighted average price is disclosed. The Form 4 was signed by an attorney-in-fact for the reporting person.

Positive

• Director purchase reported: Susan D. DeVore acquired 1,200 shares on 08/19/2025, showing insider buying activity.
• Transparent pricing detail: Weighted average purchase price disclosed as $312.15 with execution range $312.06–$312.19.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: A company director bought 1,200 ELV shares, signaling a personal purchase but not a material ownership change.

The transaction is a straightforward open-market acquisition by a director, recorded on Form 4 with a weighted average price of $312.15. The post-transaction direct holding of 3,502 shares represents a small ownership stake relative to a large-cap issuer; the filing contains no derivative or disposal activity and no indication of a scheduled plan (no rule 10b5-1 box checked). The signature by an attorney-in-fact is routine and does not alter the economic nature of the transaction.

Securities Analyst

TL;DR: Insider buying occurred but is immaterial in scale versus typical institutional holdings.

The report documents 1,200 shares purchased across multiple executions at roughly $312.06–$312.19, aggregated as $312.15. While insider purchases can be of interest, the filing shows a modest direct holding of 3,502 shares after the trade. No derivatives, grants, or dispositions are reported. For investors, this is a routine disclosure of insider activity rather than a material corporate event.

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^*

DeVore Susan D.

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/19/2025

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	08/19/2025		P		1,200	A	$312.15(1)	3,502	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. This transaction was executed in multiple purchases at prices ranging from $312.06 to $312.19. The price reported reflects the weighted average purchase price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

Remarks:

	/s/ Kathleen S. Kiefer, Attorney in fact	08/21/2025
	** 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 director Susan D. DeVore report on Form 4 (ELV)?

She reported open-market purchases totaling 1,200 shares on 08/19/2025 at a weighted average price of $312.15, resulting in 3,502 shares beneficially owned.

How was the $312.15 price on the Form 4 for ELV calculated?

The filing states the purchases were executed in multiple trades at prices ranging from $312.06 to $312.19, and the reported price is the weighted average.

Does the Form 4 for ELV show any derivative transactions or sales by the director?

No. The filing reports only non-derivative purchases of common stock and contains no derivative activity or dispositions.

Who signed the Form 4 for Susan D. DeVore (ELV)?

The Form 4 is signed by Kathleen S. Kiefer, Attorney in fact on 08/21/2025 on behalf of the reporting person.

What is the reporting person’s relationship to Elevance Health on the Form 4?

Susan D. DeVore is identified as a Director of Elevance Health.