Company: ELV
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001156039-25-000046
Chunk: 46

Company: Elevance Health, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 46
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 Mr. Kendrick's targets remained at 120%.

The total potential payment under the AIP ranges from 0% to 200% of target. Each performance measure has specific quantifiable objectives aligned to a threshold payout of 30%, a target payout of 100% and a maximum payout of 200%.

#### 2025 Proxy Statement49

#### Executive Compensation
Determination of AIP Awards
Enterprise Performance Dashboard

| Performance Measure |     | Weighting |     | Criteria and Strategic Importance |

#### Adjusted Net Income
Our primary profitability metric with focus on Company financial performance

• Adjusted Net Income is used by management to evaluate our core operating results and is reported to our shareholders on a quarterly basis so they can understand and analyze our core operating results and compare them across performance periods

• Adjusted Net Income incorporates certain non-operating revenue and expenses, including net income from investments, interest on debt, and state and federal taxes, while excluding the impact of share count, which the Committee believes provides a more accurate measure of Company earnings against which to measure our growth for incentive purposes

• Target based on 9.9% growth across our business compared to 2023

#### Operating Revenue
Our primary financial growth metric

• Operating Revenue is a key measure used by management to evaluate growth in each of our reporting segments and is reported to our shareholders on a quarterly basis so they can understand and analyze our core operating results and compare them across performance periods

• Maintaining top-line revenue is a key component of our long-term growth plan

• Target based on sustained performance across our business from 2023 to 2024

#### Improving the Health of Humanity
Strategic measure focused on health and inclusion issues important to fulfilling our purpose to improve the health of humanity

• Addresses how we fulfill our purpose to improve the health of humanity through better health outcomes, and our commitment to and accountability for addressing health, community engagement and provider collaboration, which we believe will drive better business and community results

• This measure consists of the following metrics:

• High-Performing Providers: Increase the percentage of members with affinity to a high-performing primary care provider to ensure strong cost and quality performance by providers — Target is a 1.5 percentage point improvement compared to 2023

• Community Engagement: Improve the percentage of our associates involved in giving time or money to support community health activities — Target is a 1.0 percentage point improvement compared to 2023

• Maternal and Child Health: Improve the disparity between black moms