[Form 4] Eli Lilly & Co. Insider Trading Activity

Rhea-AI Filing Summary

Ralph Alvarez, a director of Eli Lilly & Co. (LLY), reported an acquisition of company common stock. The Form 4 discloses that on 08/13/2025 he purchased 758 shares at a price of $660.254 per share. After the reported transaction, the filing lists 54,994.58 shares as beneficially owned, held indirectly through a trust. The report includes the standard disclaimer that the reporting person disclaims beneficial ownership except to the extent of pecuniary interest. The form was signed on 08/14/2025 by an authorized filer on behalf of Mr. Alvarez.

Insights

Securities Analyst

TL;DR: Director purchased 758 shares at $660.254 and holds ~54,994.58 shares indirectly via a trust.

The transaction is a routine insider purchase by a director, disclosed on a Form 4. The purchase price of $660.254 per share and the relatively small increment of 758 shares suggest a non‑material open‑market buy by a director rather than a large, strategic block acquisition. Beneficial ownership is reported as indirect via a trust, which affects control and voting considerations; the filing includes the standard pecuniary interest disclaimer. There are no derivative transactions or exercises disclosed.

Corporate Governance Expert

TL;DR: Governance disclosure is complete for this single non‑derivative purchase; ownership is indirect through a trust.

The Form 4 properly identifies the reporting person as a director and indicates the filing is by one reporting person. The record shows an acquired amount, acquisition code "P" (purchase), and the ownership form marked as indirect with a nature of indirect ownership described as "By Trust." The standard ownership disclaimer is included. No indications of option exercises, dispositions, or plan-based trading are present in this filing.

08/14/2025 - 04:12 PM

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

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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)
08/13/2025

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	08/13/2025		P		758	A	$660.254	758	I	By Trust(1)
Common Stock								54,994.58	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 Reporting Person disclaims beneficial ownership of the reported securities except to the extent of the Reporting Person's pecuniary interest therein, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Remarks:

	/s/ Jonathan Groff for Ralph Alvarez, pursuant to authorization on file	08/14/2025
	** 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.
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