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

Evolent Health, Inc. (EVH) reported an insider stock purchase by a director.

Rhea-AI Filing Summary

Evolent Health, Inc. (EVH) reported an insider stock purchase by a director. On 11/18/2025, the director bought 10,000 shares of Class A common stock in an open-market transaction coded "P" at a price of $3.8199 per share. Following this trade, the director beneficially owns 58,821 shares, which include restricted stock units granted under prior awards. The filing is made by a single reporting person in the capacity of director and notes the potential use of a Rule 10b5-1 trading plan checkbox, although no selection detail is provided in this excerpt.

Insider Trade Summary

Net Buyer: 10,000 shares

Net Buy 1 txn

Insider Springstubb Brendan B

Role Director

Bought 10,000 shs ($38K)

Type	Security	Shares	Price	Value
Purchase	Class A Common Stock	10,000	$3.8199	$38K

Holdings After Transaction: Class A Common Stock — 58,821 shares (Direct)

Footnotes (1)

1. F1. Includes restricted stock units granted under awards reported on Table 1 of Form 4s previously filed with the Securities and Exchange Commission.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Evolent Health (EVH) disclose in this Form 4?

The filing reports that a director of Evolent Health, Inc. purchased shares of the company’s Class A common stock in an open-market transaction.

How many Evolent Health (EVH) shares did the director buy and at what price?

The director purchased 10,000 shares of Evolent Health Class A common stock at a price of $3.8199 per share on 11/18/2025.

What is the director’s total beneficial ownership in Evolent Health after the trade?

After the reported transaction, the director beneficially owns 58,821 shares of Evolent Health Class A common stock.

Does the reported Evolent Health (EVH) ownership include restricted stock units?

Yes. The explanation states that the reported total of 58,821 shares includes restricted stock units granted under prior awards.

What is the director’s relationship to Evolent Health (EVH) as described in the Form 4?

The reporting person is identified as a director of Evolent Health, Inc., with the corresponding box checked in the relationship section.

Is the Evolent Health (EVH) trade associated with a Rule 10b5-1 trading plan?

The form includes a checkbox for trades under a Rule 10b5-1(c) trading plan, but this excerpt does not indicate whether that box was checked for the reported transaction.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 11/19/2025 - 04:23 PM Learn about SEC filing dates

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^*

Springstubb Brendan B

(Last) (First) (Middle)

C/O EVOLENT HEALTH, INC.

1812 N. MOORE ST., STE. 1705

(Street)

ARLINGTON VA 22209

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Evolent Health, Inc. [ EVH ]

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)
11/18/2025

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
Class A Common Stock	11/18/2025		P		10,000	A	$3.8199	58,821(1)	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. Includes restricted stock units granted under awards reported on Table 1 of Form 4s previously filed with the Securities and Exchange Commission.

Remarks:

	/s/ Jonathan Weinberg, Attorney-in-fact	11/19/2025
	** 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.