Company: ELV
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001156039-25-000046
Chunk: 43

Company: Elevance Health, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 43
---
 the General Industry Group for the year ended December 31, 2022 was ($ in millions):

| Measure                               |     |   |         | Median of General Industry Group |     |   |         | Elevance Health |     |    | Percentile Rank |
|:--------------------------------------|:----|:--|--------:|:---------------------------------|:----|:--|--------:|:----------------|:----|---:|:----------------|
| Revenue for the year ended 12/31/2022 |     | $ | 134,351 |                                  |     | $ | 156,599 |                 |     | 57 | %               |

For 2025 executive compensation planning, the Committee made no changes to the direct industry comparator group or to the criteria for the General Industry Group, which continues to reflect the publicly held Fortune 50, excluding Elevance Health.

| 46 |

#### Executive Compensation

#### Comparisons and the Use of Tally Sheets
In determining compensation for 2024, the Committee evaluated prior year compensation and actions to assess year-over-year pay changes in relation to performance and internal equity factors, including considering how each executive's compensation aligns with their peers.

As additional context, when making pay decisions in early 2024, the Committee also reviewed comprehensive tally sheets for each NEO, which provided an overview of the last five years of compensation actions, realized equity and outstanding equity holdings (vested and unvested). Although tally sheets provide background information for the Committee, the Committee did not base any specific awards for 2024, or any modifications to our compensation program, on them.

### The Role of Management
Our CEO and our other executive officers, including the NEOs, do not set their own compensation nor are they present when the Committee sets their specific individual compensation. The CEO provides input to the Committee regarding the duties and responsibilities of her direct reports and the results of her evaluations of their annual performance. The CEO, in conjunction with our Chief Human Resources Officer, reviews recommendations with the Committee’s independent compensation consultant regarding the compensation of the CEO's executive officer direct reports and then provides these recommendations and rationale to the Committee. Management also recommends to the Committee enterprise-wide financial and non-financial performance goals for use in our annual and long-term incentive plans.

#### Elements of Total Rewards
The following chart shows the primary components of our Total Rewards program for our executives, including our NEOs. Additional detail on each of these Total Rewards components can be found under the respective headings in this CD