Eli Lilly director gets 11.924 deferred shares

Eli Lilly & Co. director Ralph Alvarez reported acquiring 11.924 shares of Eli Lilly common stock on January 20, 2026.

Accepted by SEC EDGAR 01/21/2026 - 04:23 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Eli Lilly & Co. director Ralph Alvarez reported acquiring 11.924 shares of Eli Lilly common stock on January 20, 2026. According to the filing, this amount represents fees that he elected to defer as stock units under the Lilly Directors' Deferral Plan, instead of taking cash, and these units will be settled in Eli Lilly common shares after he leaves board service.

Following this transaction, Alvarez directly beneficially owned 55,479.642 shares of Eli Lilly common stock. The filing also reports an additional 758 shares held indirectly through a trust, for which he disclaims beneficial ownership except to the extent of his economic interest.

Insider Trade Summary

Grant/Award: 11.924 shares

Grant/Award 1 txn

Insider Alvarez Ralph

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	11.924	$1,041.29	$12K
Holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 55,479.642 shares (Direct); Common Stock — 758 shares (Indirect, By Trust)

Holdings Before and After: Common Stock, 55,467.718 to 55,479.642 shares (Direct)

Footnotes (2)

1. F1. At the election of the reporting person, the shares acquired pursuant to this filing have been deferred in lieu of cash compensation as stock units under the Lilly Directors' Deferral Plan and will be settled in shares of common stock following the reporting person's separation from service.
2. F2. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

FAQ

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

What insider transaction did Eli Lilly (LLY) director Ralph Alvarez report?

Ralph Alvarez reported acquiring 11.924 shares of Eli Lilly common stock on January 20, 2026, recorded as stock units under the Lilly Directors' Deferral Plan.

Was the Eli Lilly (LLY) Alvarez transaction a purchase on the open market?

No. The filing explains the 11.924 shares were received as deferred stock units in lieu of cash compensation under the Lilly Directors' Deferral Plan, to be settled in shares after his separation from service.

How many Eli Lilly (LLY) shares does Ralph Alvarez own after this Form 4?

After the reported transaction, Ralph Alvarez directly beneficially owned 55,479.642 shares of Eli Lilly common stock, plus 758 shares held indirectly through a trust.

What does the trust holding mean in the Eli Lilly (LLY) Form 4 for Ralph Alvarez?

The Form 4 shows 758 Eli Lilly shares held indirectly "By Trust". The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.

Is the Ralph Alvarez Eli Lilly (LLY) Form 4 tied to a Rule 10b5-1 trading plan?

The Form 4 includes a checkbox for Rule 10b5-1 plans, but there is no indication checked that this transaction was made under such a plan in the provided content.

What is the price used for the Eli Lilly (LLY) stock units reported by Ralph Alvarez?

The 11.924 stock units were valued at a reported price of $1,041.29 per share for this deferred compensation entry.

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

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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^*

Alvarez Ralph

(Last) (First) (Middle)

LILLY CORPORATE CENTER

(Street)

INDIANAPOLIS IN 46285

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ELI LILLY & Co [ LLY ]

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)
01/20/2026

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	01/20/2026		A		11.924(1)	A	$1,041.29	55,479.642	D
Common Stock								758	I	By Trust(2)

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. At the election of the reporting person, the shares acquired pursuant to this filing have been deferred in lieu of cash compensation as stock units under the Lilly Directors' Deferral Plan and will be settled in shares of common stock following the reporting person's separation from service.

2. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

Remarks:

	/s/ Jonathan Groff for Ralph Alvarez, pursuant to authorization on file	01/21/2026
	** 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.