Company: ELV
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001156039-25-000046
Chunk: 70

Company: Elevance Health, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 70
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 |                                                  |     | $ | 6,044,795 |     |   |      — |                                    |                                                     |     |   |      — |     |                              |     |   |     — |     | $ |  6,554,795 |                                                |
| Long-Term Disability                                                          |     |   |         — |                |     | $ |   510,000 |                                   |                                                  |     | $ | 6,044,795 |     |   |      — |                                    |                                                     |     |   |      — |     |                              |     |   |     — |     | $ |  6,554,795 |                                                |

(1) For all NEOs, all unvested equity awards vest immediately upon termination following a change-in-control as defined in the EAP or due to death or long-term disability, with payout amounts under the PSU awards at 100% of target in accordance with the terms of the applicable award agreement. Upon an eligible retirement, unvested equity awards generally continue to vest on the existing vesting schedule with the exception of PSU awards of which a pro rata portion will vest on the original vesting date based on actual performance. Upon a resignation, all unvested equity awards are forfeited unless the NEO is retirement eligible. Mr. Haytaian, Ms. Norwood and Mr. Kendrick are currently retirement eligible under the Long-Term Incentive Plan. Upon a Company-initiated termination without Cause or for Good Reason by the employee (as those terms are defined in our EAP), each NEO is eligible for pro rata vesting of his or her PSU awards based on actual performance over the period specified in the award agreement. The NEOs are also eligible for continued vesting of the unvested options and RSUs granted through the 24-month severance period described below, unless the NEO is retirement eligible, in which case they will be eligible for continued vesting of all unvested options and RSUs. The amounts in this column represent (1) for stock option awards, the amount that could be realized from the exercise of all unvested stock options held by the NEO that would immediately vest or continue to vest upon the indicated termination, which is calculated by subtracting the exercise price of the option from the market price of a share of our common stock on December 31, 2024 ($368.90) and multiplying the result by the total number of shares that could be acquired on exercise at that