Company: ELV
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001156039-25-000046
Chunk: 41

Company: Elevance Health, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 41
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| 44 |

#### Executive Compensation

#### Compensation Decision-Making Process
| Compensation Decision-Making Process and Key Considerations |     |                                                                                                                        |     |                  |     |                 |     |            |     |                |     |             |
| áâ                                                          |     |                                                                                                                        |     |                  |     |                 |     |            |     |                |     |             |
|                                                             |     | A Unified Approach to Bring Together Both External and Internal Resources to Make Well-Informed Compensation Decisions |     |                  |     |                 |     |            |     |                |     |             |
| áâ                                                          |     |                                                                                                                        |     |                  |     |                 |     |            |     |                |     |             |
|                                                             |     | The Role of the                                                                                                        
 Committee                                                                                                              |     | Shareholder      
 Outreach and     
 Say-on-Pay Votes |     | The Role of the 
 Independent     
 Compensation    
 Consultant      |     | Market     
 Assessment 
 and Peer   
 Practices  |     | Internal       
 Comparisons    
 and the Use of 
 Tally Sheets   |     | The Role of 
 Management  |

#### The Role of the Committee
The Committee reviews and approves all elements of Total Rewards for our executive officers, including the NEOs, including base salary levels and merit increases, annual short-term and equity-based long-term incentive plan design, performance measures and payouts, executive perquisites, stock ownership guidelines and other compensation-related governance policies. With respect to the CEO’s compensation, the Committee and the independent members of the Board evaluate the CEO’s performance against pre-established enterprise goals and her own personal goals, including leadership qualities. The Committee then determines the CEO’s pay. Compensation decisions for all NEOs are made as part of a unified process so that all components of pay are reviewed in concert with each other. This is intended to ensure that the Total Rewards package for the NEOs fits with our compensation philosophy and Company values and aligns with the interests of our shareholders.

#### Shareholder Outreach and Say-on-Pay Votes
As discussed on page 44, we regularly engage with our shareholders on a broad range of topics, including executive compensation. Additionally, the Committee reviews the results of our annual Say-on-Pay vote. These dialogues and Say-on-Pay votes provide valuable insight into understanding the interests and viewpoints of our shareholders, which are key considerations in the design and governance of our pay programs.

The Role of the Independent Compensation Consultant

The Committee has retained WTW since June