Company: ELV
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001156039-25-000046
Chunk: 58

Company: Elevance Health, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 58
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10b5-1 trading plans, including the timing of entry or modification of a plan, the price at which shares will be traded, a “cooling off” period after the plan is entered into during which no trades can take place, restrictions on the number of plans an individual can maintain and pre-approval of all such plans by the Corporate Secretary.

Stock Ownership Guidelines and Holding Requirements

We have stock ownership guidelines for all executive officers, including the NEOs, which are a multiple of the executive’s base salary. An executive officer has five years to meet the applicable guideline, and the sale of our common stock is restricted for executives who have not met their ownership requirement. All covered participants must hold 100% of their profit shares (after-tax gain) from stock units vesting until their ownership requirement is met.

| Level                     |     |     | Multiple of Salary |
| Chief Executive Officer   |     | 6.0 |                    |
| Executive Vice Presidents |     | 3.0 |                    |

For purposes of this program, all shares directly owned, shares in the 401(k) Plan and unvested RSUs are included in the calculation. Unexercised stock options and unvested PSUs are not included in the calculation. The Committee reviews the extent to which our executive officers have complied with the guidelines on an annual basis. As of the date this Proxy Statement is filed with the SEC, each of our NEOs owns sufficient shares to meet his or her ownership requirement under the guidelines.

See “ Corporate Governance — Board Practices, Processes and Policies — Board Equity Compensation and Stock Ownership Guidelines” for a discussion of our directors’ stock ownership requirements.

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#### Executive Compensation

#### Equity Grant Practices
Our annual equity grant is approved by the Committee and has been made on the first business day of March each yearsince 2006, unless otherwise specified by our Board or the Committee. The Committee has delegated authority to management to grant promotional, new hire and retention grants during the remainder of the year as follows:

• No grants may be made to the CEO or other executive officers without Committee approval;

• Grants are to be dated as of the first business day of the month concurrent with or following the promotion date, hire date or date that a retention grant was approved; and

• Management reports off-cycle delegated grant activity at each regularly scheduled Committee meeting.

Neither the Committee nor management grantsequity awards in anticipation of the release of material nonpublic information, or otherwise takes material nonpublic information into account when