Company: ELV
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001156039-25-000046
Chunk: 9

Company: Elevance Health, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 9
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�                       |     | ●●●●●●●●⭘⭘⭘         |
| 6 of 11 Directors            |     | 7 of 11 Directors  |     | 7 of 11 Directors  |     | 5 of 11 Directors                 |     | 8 of 11 Directors   |

#### 2025 Proxy Statement9

#### Proxy Summary

#### Corporate Governance Highlights
Our corporate governance policies and practices reflect our commitment to effective corporate governance and high ethical standards:

| Board / Committee Independence                                                       |     | Board Practices                                                                                           |     | Accountability                                                                                                                                         |
| •Separate CEO and Independent Board Chair                                            
 •Independent Board – 10 of 11 directors are independent                              
 •Fully independent Audit, Compensation and Talent, Finance and Governance Committees |     | •Annual Board, committee and individual director performance evaluations facilitated by an external party 
 •Independent directors hold executive sessions                                                            
 •Board oversees Enterprise Risk Management activities                                                     |     | •Majority voting for uncontested director elections                                                                                                    
 •Proxy access for shareholder-nominated director nominees                                                                                              
 •Commitment to declassify the Board if the Blue Cross and Blue Shield Association ("BCBSA") requirement for a classified board is no longer applicable |

| Stock Ownership / Compensation                                                                        |     |                                                                                           |
| •Significant director and executive stock ownership  and holding requirements                         
 •Clawback policy for executive officers’ incentive compensation, including for reputational harm      
 •Policy against short sales, hedging and pledging stock for directors and executive officers          
 •Rigorous establishment and oversight of incentive measures, goals and pay / performance relationship 
 •Say-on-Pay advisory vote conducted annually                                                          
 •Pre-established grant dates for equity awards to executive officers                                  |     | •Limited executive perquisites                                                            
 •Double-trigger change-in-control provisions                                              
 •No re-pricing of stock options or stock appreciation rights without shareholder approval 
 •No change-in-control excise tax gross-ups                                                
 •No guaranteed annual salary increases or bonuses                                         
 •No compensation plans that encourage excessive risk taking                               
 •Independent compensation consultant                                                      |

| 10 |

#### Proxy Summary

#### Compensation Highlights
Pay-for-performance. Our Total Rewards program emphasizes performance-based compensation in the form of our Annual Incentive Plan (“AIP”) and annual grants of long-term, equity-based incentives under the shareholder-approved Elevance Health Incentive Compensation Plan (the “Long-Term Incentive Plan” or “LTIP”). As such, our pay-for