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Eli Lilly (LLY): Insider sold 300,000 shares; now holds 93,931,978

Lilly Endowment Inc., a director of Eli Lilly (LLY), reported open‑market sales totaling 300,000 shares of common stock on 11/03/2025.

Filing Impact
(Very High)
Filing Sentiment

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Form Type
4

Rhea-AI Filing Summary

Lilly Endowment Inc., a director of Eli Lilly (LLY), reported open‑market sales totaling 300,000 shares of common stock on 11/03/2025.

The trades were executed in multiple tranches at weighted average prices with reported ranges from $877.00 to $901.295 per share, as detailed in footnotes. Following these transactions, the reporting person beneficially owned 93,931,978 shares directly.

Insights

Large holder sold 300,000 LLY shares on 11/03/2025; ownership remains very substantial. Impact appears limited.

The filing reports multiple open-market sales (“S”) of **Eli Lilly** common stock on 11/03/2025, executed in tranches with weighted-average prices ranging from about $877 to $901 per share (per footnotes 1–24). In total, the reporting person sold 300,000 shares that day. Following these sales, the filer reports beneficial ownership of 93,931,978 shares, held directly.

Based on the reported before-and-after share counts, the disposition reduced the filer’s holdings by roughly 0.32% of its own previously reported stake (300,000 out of approximately 94,231,978). The prices disclosed are weighted averages; detailed trade-by-trade data are available upon request, as stated in the footnotes. No derivative transactions were reported in Table II.

Key watch items: any subsequent Forms 4 indicating continued selling, any future indication that transactions occurred under a Rule 10b5-1 plan, and updates to the filer’s beneficial ownership level. The next few weeks after 11/03/2025 would clarify whether this was a one-day liquidity event or part of a broader pattern.

Insider LILLY ENDOWMENT INC
Role 10% Owner
Sold 300,000 shs ($266.65M)
Type Security Shares Price Value
Sale Common Stock 25,996 $877.40 $22.81M
Sale Common Stock 18,815 $878.356 $16.53M
Sale Common Stock 6,125 $879.36 $5.39M
Sale Common Stock 10,549 $880.449 $9.29M
Sale Common Stock 6,373 $881.461 $5.62M
Sale Common Stock 4,226 $882.32 $3.73M
Sale Common Stock 10,681 $883.746 $9.44M
Sale Common Stock 26,340 $884.665 $23.30M
Sale Common Stock 21,884 $885.557 $19.38M
Sale Common Stock 3,038 $886.287 $2.69M
Sale Common Stock 4,081 $888.142 $3.62M
Sale Common Stock 2,452 $888.959 $2.18M
Sale Common Stock 14,867 $890.20 $13.23M
Sale Common Stock 15,508 $891.172 $13.82M
Sale Common Stock 17,299 $891.973 $15.43M
Sale Common Stock 4,246 $893.35 $3.79M
Sale Common Stock 17,537 $894.327 $15.68M
Sale Common Stock 17,639 $895.155 $15.79M
Sale Common Stock 29,709 $896.146 $26.62M
Sale Common Stock 11,842 $897.195 $10.62M
Sale Common Stock 19,295 $898.203 $17.33M
Sale Common Stock 5,391 $899.18 $4.85M
Sale Common Stock 4,474 $900.017 $4.03M
Sale Common Stock 1,633 $900.794 $1.47M
Holdings After Transaction: Common Stock — 93,931,978 shares (Direct)
Footnotes (24)
  1. F1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $877.00 to $877.99, 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), and (24) to this Form 4.
  2. F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $878.00 to $878.99, inclusive.
  3. F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $879.00 to $879.80, inclusive.
  4. F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $880.00 to $880.99, inclusive.
  5. F5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $881.00 to $881.98, inclusive.
  6. F6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $882.00 to $882.99, inclusive.
  7. F7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $883.14 to $884.12, inclusive.
  8. F8. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $884.145 to $885.14, inclusive.
  9. F9. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $885.145 to $886.14, inclusive.
  10. F10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $886.145 to $886.48, inclusive.
  11. F11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $887.50 to $888.41, inclusive.
  12. F12. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $888.58 to $889.52, inclusive.
  13. F13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $889.615 to $890.61, inclusive.
  14. F14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $890.615 to $891.61, inclusive.
  15. F15. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $891.62 to $892.515, inclusive.
  16. F16. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $892.675 to $893.62, inclusive.
  17. F17. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $893.69 to $894.68, inclusive.
  18. F18. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $894.69 to $895.68, inclusive.
  19. F19. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $895.69 to $896.685, inclusive.
  20. F20. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $896.69 to $897.665, inclusive.
  21. F21. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $897.69 to $898.67, inclusive.
  22. F22. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $898.70 to $899.69, inclusive.
  23. F23. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $899.70 to $900.62, inclusive.
  24. F24. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $900.77 to $901.295, inclusive.

FAQ

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

What did LLY’s insider report on Form 4?
A director‑affiliated holder, Lilly Endowment Inc., reported open‑market sales of 300,000 LLY shares on 11/03/2025.

What price range were the LLY shares sold at?
The filing lists weighted average prices with ranges from $877.00 to $901.295 per share across tranches.

How many LLY shares does the reporting person hold after the sales?
Post‑transaction, the reporting person beneficially owned 93,931,978 shares directly.

How many individual sale tranches were disclosed?
The report itemizes 24 separate sale tranches, each with its own weighted average price range.

What was the transaction date on the Form 4?
All reported sales occurred on 11/03/2025.

Who signed the filing?
It was signed /s/ Diane M. Stenson, Vice President and Treasurer, on behalf of Lilly Endowment Inc. on 11/04/2025.

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

Form 4 Insider Transactions: What Each Field Means →
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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*
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)
11/03/2025
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 11/03/2025 S 25,996 D $877.4(1) 94,205,982 D
Common Stock 11/03/2025 S 18,815 D $878.356(2) 94,187,167 D
Common Stock 11/03/2025 S 6,125 D $879.36(3) 94,181,042 D
Common Stock 11/03/2025 S 10,549 D $880.449(4) 94,170,493 D
Common Stock 11/03/2025 S 6,373 D $881.461(5) 94,164,120 D
Common Stock 11/03/2025 S 4,226 D $882.32(6) 94,159,894 D
Common Stock 11/03/2025 S 10,681 D $883.746(7) 94,149,213 D
Common Stock 11/03/2025 S 26,340 D $884.665(8) 94,122,873 D
Common Stock 11/03/2025 S 21,884 D $885.557(9) 94,100,989 D
Common Stock 11/03/2025 S 3,038 D $886.287(10) 94,097,951 D
Common Stock 11/03/2025 S 4,081 D $888.142(11) 94,093,870 D
Common Stock 11/03/2025 S 2,452 D $888.959(12) 94,091,418 D
Common Stock 11/03/2025 S 14,867 D $890.2(13) 94,076,551 D
Common Stock 11/03/2025 S 15,508 D $891.172(14) 94,061,043 D
Common Stock 11/03/2025 S 17,299 D $891.973(15) 94,043,744 D
Common Stock 11/03/2025 S 4,246 D $893.35(16) 94,039,498 D
Common Stock 11/03/2025 S 17,537 D $894.327(17) 94,021,961 D
Common Stock 11/03/2025 S 17,639 D $895.155(18) 94,004,322 D
Common Stock 11/03/2025 S 29,709 D $896.146(19) 93,974,613 D
Common Stock 11/03/2025 S 11,842 D $897.195(20) 93,962,771 D
Common Stock 11/03/2025 S 19,295 D $898.203(21) 93,943,476 D
Common Stock 11/03/2025 S 5,391 D $899.18(22) 93,938,085 D
Common Stock 11/03/2025 S 4,474 D $900.017(23) 93,933,611 D
Common Stock 11/03/2025 S 1,633 D $900.794(24) 93,931,978 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 $877.00 to $877.99, 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), and (24) 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 $878.00 to $878.99, inclusive.
3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $879.00 to $879.80, inclusive.
4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $880.00 to $880.99, inclusive.
5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $881.00 to $881.98, inclusive.
6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $882.00 to $882.99, inclusive.
7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $883.14 to $884.12, inclusive.
8. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $884.145 to $885.14, inclusive.
9. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $885.145 to $886.14, inclusive.
10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $886.145 to $886.48, inclusive.
11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $887.50 to $888.41, inclusive.
12. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $888.58 to $889.52, inclusive.
13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $889.615 to $890.61, inclusive.
14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $890.615 to $891.61, inclusive.
15. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $891.62 to $892.515, inclusive.
16. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $892.675 to $893.62, inclusive.
17. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $893.69 to $894.68, inclusive.
18. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $894.69 to $895.68, inclusive.
19. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $895.69 to $896.685, inclusive.
20. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $896.69 to $897.665, inclusive.
21. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $897.69 to $898.67, inclusive.
22. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $898.70 to $899.69, inclusive.
23. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $899.70 to $900.62, inclusive.
24. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $900.77 to $901.295, inclusive.
/s/ Diane M. Stenson, Vice President and Treasurer, on behalf of Lilly Endowment Inc. 11/04/2025
** 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.

Source: View Original Filing on SEC EDGAR

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