Company: ELV
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001156039-25-000046
Chunk: 54

Company: Elevance Health, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 54
---
3. The PSUs granted in 2024 provide a payout opportunity of 0% to 200% of the target number of units granted. The target 2024-2026 cumulative Adjusted Net Income and 2024-2026 cumulative Operating Revenue reflect a long-term growth rate that is consistent with the goals we have previously publicly disclosed to our investors. Specific threshold, target and maximum goals are not provided at this time due to the risk of competitive harm but will be disclosed at the completion of the performance period.

| Performance Measure |     | Weighting |     | Threshold |     | Target |     | Maximum |

2024-2026 Cumulative Adjusted Net Income 60%

| 0% |     | 100% |     | 200 | % |

2024-2026 Cumulative Operating Revenue 40%

| 0% |     | 100% |     | 200 | % |

#### 2025 LTIP Grant
For the 2025 LTIP grant, the Committee replaced the three-year cumulative Adjusted Net Income performance measure with a three-year cumulative Adjusted Diluted Earnings Per Share measure to drive better alignment with current business and shareholder priorities. This change diversifies the financial metrics used in our annual and long-term incentive plans, provides an incentive for management to focus on maximizing investment opportunities and aligns with our external Adjusted Diluted Earnings Per Share growth commitments.

#### Benefits and Perquisites

#### Broad-Based Benefits
Our executive officers, including our NEOs, generally participate in the broad-based benefit programs under the same terms and conditions as other associates. These benefit offerings include a medical plan with higher associate contributions toward premiums for the NEOs and for other highly compensated associates. Other broad-based associate benefits include a dental and vision plan, disability benefits, wellness benefits, life and accidental death and dismemberment insurance, business travel accident insurance, dependent care flexible spending with a company match and the 401(k) Plan. Our NEOs and other highly compensated associates are also eligible for a Deferred Compensation Plan, which provides matching contributions under the same formula as the 401(k) Plan on deferrals of compensation above the annual limit for tax-qualified plans. We also have a cash balance pension plan that was frozen to most participants effective December 31, 2005. Mr. Kendrick has vested benefits in the cash balance pension plan, and he is also eligible for a legacy retiree healthcare benefit. Like all associates, NEOs are eligible for relocation assistance when required to move to