Company: ELV
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001156039-25-000046
Chunk: 75

Company: Elevance Health, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 75
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 on awards in the covered year prior to vesting |     | $    |           — |         | $ |          — |                             |
| Compensation Actually Paid                                                      |     | $    |  -3,957,314 |         | $ |   -256,544 |                             |

(i) Represents the change in the actuarial present value of the accumulated benefit under defined benefit and pension plans reported in the Summary Compensation Table for Mr. Kendrick. The value of Mr. Kendrick's benefits under such pension plans decreased by $ 2,608in 2024, so, in accordance with the SEC's rules, no amount is shown for 2024. No other NEO is eligible for benefits under a defined benefit or actuarial pension plan.

(ii) Reflects the value of equity-based awards calculated in accordance with the SEC methodology for determining Compensation Actually Paid.

The fair values of stock options granted as of the end of 2024 and the year-over-year changes in the fair values of stock options outstanding at the end of, or that vested during, 2024 were calculated using a binomial lattice valuation model, as further described in Note 15, “Capital Stock,” of the Notes to our Consolidated Financial Statements included in Part II, Item 8 of our Form 10-K. The following ranges of assumptions were used to estimate these fair values:

| Calendar Year |     | Risk-Free Interest Rate |     | Volatility Factor |     | Dividend Yield (Annual) |
| 2024          |     | 3.74 - 4.56%            |     | 29 - 32%          |     | 1.3 - 1.8%              |

| 68 |

#### Executive Compensation
The fair value of PSUs that vested during 2024 was calculated using the actual performance results of 162.9% as described in the Compensation Discussion & Analysis in the 2024 Proxy Statement.

The fair value of PSUs that will vest during 2025 was calculated using the actual performance results of 95.1% as described in the Compensation Discussion & Analysisin this Proxy Statement.

The fair value of in-flight PSUs was calculated based on the probable performance as determined at the end of the applicable covered year, which is forecasted to be below the target level of performance.

(2) Based upon an initial investment of $100 on December 31, 2019 with dividends reinvested.

(3) Company selected peer group is the S&P 500