Eli Lilly insider sales reported; post‑trade holding 93,411,978 shares

Rhea-AI Filing Summary

Eli Lilly (LLY): Insider transaction reported. A reporting person filed a Form 4 disclosing multiple open‑market sales of Eli Lilly common stock on November 11, 2025. Each line item is coded “S” for sale and reflects a weighted average price, with individual trades occurring within the disclosed ranges.

Reported weighted average prices spanned approximately $972.269 to $999.088, with footnotes stating underlying trade ranges from $972.00 to $999.49 per share across the listed transactions. Following these sales, the reporting person beneficially owned 93,411,978 shares, held directly.

Insider Trade Summary

Net Seller: 283,131 shares ($279,347,680)

Net Sell 27 txns

Insider LILLY ENDOWMENT INC

Role 10% Owner

Sold 283,131 shs ($279.35M)

Type	Security	Shares	Price	Value
Sale	Common Stock	11,819	$972.269	$11.49M
Sale	Common Stock	11,998	$973.475	$11.68M
Sale	Common Stock	10,114	$974.465	$9.86M
Sale	Common Stock	8,996	$975.461	$8.78M
Sale	Common Stock	5,759	$976.49	$5.62M
Sale	Common Stock	4,680	$977.439	$4.57M
Sale	Common Stock	4,433	$978.688	$4.34M
Sale	Common Stock	3,555	$979.651	$3.48M
Sale	Common Stock	2,068	$980.543	$2.03M
Sale	Common Stock	2,211	$981.851	$2.17M
Sale	Common Stock	7,503	$983.137	$7.38M
Sale	Common Stock	11,066	$984.039	$10.89M
Sale	Common Stock	8,877	$985.255	$8.75M
Sale	Common Stock	30,633	$986.183	$30.21M
Sale	Common Stock	13,678	$987.183	$13.50M
Sale	Common Stock	4,473	$987.909	$4.42M
Sale	Common Stock	22,127	$989.179	$21.89M
Sale	Common Stock	33,154	$990.191	$32.83M
Sale	Common Stock	26,761	$991.013	$26.52M
Sale	Common Stock	9,369	$992.013	$9.29M
Sale	Common Stock	9,879	$993.10	$9.81M
Sale	Common Stock	5,022	$994.121	$4.99M
Sale	Common Stock	4,664	$995.249	$4.64M
Sale	Common Stock	12,039	$996.381	$12.00M
Sale	Common Stock	9,387	$997.057	$9.36M
Sale	Common Stock	5,482	$998.294	$5.47M
Sale	Common Stock	3,384	$999.088	$3.38M

Holdings After Transaction: Common Stock — 93,683,290 shares (Direct)

Footnotes (1)

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $972.00 to $972.995, inclusive. The reporting person undertakes to provide to Eli Lilly & Company, any security holder of Eli Lilly & Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), (14), (15), (16), (17), (18), (19), (20), (21), (22), (23), (24), (25), (26), and (27) to this Form 4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $973.00 to $973.98, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $974.00 to $974.99, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $975.00 to $975.98, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $976.07 to $977.01, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $977.205 to $978.12, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $978.23 to $979.19, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $979.235 to $980.23, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $980.24 to $981.115, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $981.50 to $982.48, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $982.525 to $983.50, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $983.56 to $984.51, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $984.59 to $985.585, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $985.60 to $986.58, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $986.605 to $987.60, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $987.61 to $988.49, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $988.63 to $989.62, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $989.63 to $990.62, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $990.63 to $991.605, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $991.65 to $992.60, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $992.685 to $993.66, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $993.70 to $994.68, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $994.75 to $995.67, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $995.76 to $996.75, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $996.78 to $997.75, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $997.81 to $998.80, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $998.81 to $999.49, inclusive.

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^*

LILLY ENDOWMENT INC

(Last) (First) (Middle)

2801 NORTH MERIDIAN STREET

(Street)

INDIANAPOLIS IN 46208-0068

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/11/2025

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	11/11/2025		S		11,819	D	$972.269(1)	93,683,290	D
Common Stock	11/11/2025		S		11,998	D	$973.475(2)	93,671,292	D
Common Stock	11/11/2025		S		10,114	D	$974.465(3)	93,661,178	D
Common Stock	11/11/2025		S		8,996	D	$975.461(4)	93,652,182	D
Common Stock	11/11/2025		S		5,759	D	$976.49(5)	93,646,423	D
Common Stock	11/11/2025		S		4,680	D	$977.439(6)	93,641,743	D
Common Stock	11/11/2025		S		4,433	D	$978.688(7)	93,637,310	D
Common Stock	11/11/2025		S		3,555	D	$979.651(8)	93,633,755	D
Common Stock	11/11/2025		S		2,068	D	$980.543(9)	93,631,687	D
Common Stock	11/11/2025		S		2,211	D	$981.851(10)	93,629,476	D
Common Stock	11/11/2025		S		7,503	D	$983.137(11)	93,621,973	D
Common Stock	11/11/2025		S		11,066	D	$984.039(12)	93,610,907	D
Common Stock	11/11/2025		S		8,877	D	$985.255(13)	93,602,030	D
Common Stock	11/11/2025		S		30,633	D	$986.183(14)	93,571,397	D
Common Stock	11/11/2025		S		13,678	D	$987.183(15)	93,557,719	D
Common Stock	11/11/2025		S		4,473	D	$987.909(16)	93,553,246	D
Common Stock	11/11/2025		S		22,127	D	$989.179(17)	93,531,119	D
Common Stock	11/11/2025		S		33,154	D	$990.191(18)	93,497,965	D
Common Stock	11/11/2025		S		26,761	D	$991.013(19)	93,471,204	D
Common Stock	11/11/2025		S		9,369	D	$992.013(20)	93,461,835	D
Common Stock	11/11/2025		S		9,879	D	$993.1(21)	93,451,956	D
Common Stock	11/11/2025		S		5,022	D	$994.121(22)	93,446,934	D
Common Stock	11/11/2025		S		4,664	D	$995.249(23)	93,442,270	D
Common Stock	11/11/2025		S		12,039	D	$996.381(24)	93,430,231	D
Common Stock	11/11/2025		S		9,387	D	$997.057(25)	93,420,844	D
Common Stock	11/11/2025		S		5,482	D	$998.294(26)	93,415,362	D
Common Stock	11/11/2025		S		3,384	D	$999.088(27)	93,411,978	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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $972.00 to $972.995, inclusive. The reporting person undertakes to provide to Eli Lilly & Company, any security holder of Eli Lilly & Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), (14), (15), (16), (17), (18), (19), (20), (21), (22), (23), (24), (25), (26), and (27) to this Form 4.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $973.00 to $973.98, inclusive.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $974.00 to $974.99, inclusive.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $975.00 to $975.98, inclusive.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $976.07 to $977.01, inclusive.

6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $977.205 to $978.12, inclusive.

7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $978.23 to $979.19, inclusive.

8. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $979.235 to $980.23, inclusive.

9. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $980.24 to $981.115, inclusive.

10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $981.50 to $982.48, inclusive.

11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $982.525 to $983.50, inclusive.

12. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $983.56 to $984.51, inclusive.

13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $984.59 to $985.585, inclusive.

14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $985.60 to $986.58, inclusive.

15. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $986.605 to $987.60, inclusive.

16. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $987.61 to $988.49, inclusive.

17. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $988.63 to $989.62, inclusive.

18. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $989.63 to $990.62, inclusive.

19. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $990.63 to $991.605, inclusive.

20. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $991.65 to $992.60, inclusive.

21. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $992.685 to $993.66, inclusive.

22. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $993.70 to $994.68, inclusive.

23. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $994.75 to $995.67, inclusive.

24. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $995.76 to $996.75, inclusive.

25. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $996.78 to $997.75, inclusive.

26. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $997.81 to $998.80, inclusive.

27. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $998.81 to $999.49, inclusive.

	/s/ Peter A. Buck, Vice President of Investments & Grants Administration, on behalf of Lilly Endowment Inc.	11/12/2025
	** 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

Who reported the insider trades for LLY?

A reporting person filed a Form 4 for Eli Lilly & Co. (LLY); the signature indicates filing on behalf of Lilly Endowment Inc.

When did the LLY insider sales occur?

The transactions took place on 11/11/2025.

What price ranges were disclosed for the LLY sales?

Weighted average prices were reported around $972.269 to $999.088, with footnotes citing trade ranges from $972.00 to $999.49 per share.

How many LLY shares were beneficially owned after the transactions?

The reporting person beneficially owned 93,411,978 shares directly after the reported sales.

What does the transaction code 'S' signify in this filing?

Code S indicates an open‑market or private sale of non‑derivative securities.

Were these LLY sales executed in multiple trades?

Yes. The filing notes weighted average prices and provides footnoted ranges, indicating multiple transactions within each price range.