Company: ELV
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0001156039-25-000136
Chunk: 42

Company: Elevance Health, Inc.
Filing Date: 2025-10-21
Form: 10-Q
Item: Item 8
Chunk 42
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 the nine months ended September 30, 2025 is as follows:RestrictedStock Sharesand UnitsWeighted-AverageGrant DateFair Valueper ShareNonvested at January 1, 20251.0 $478.70 Granted0.6 393.39 Vested(0.4)467.50 Forfeited(0.1)451.08 Nonvested at September 30, 20251.1 438.24 During the nine months ended September 30, 2025, we granted approximately 0.2 restricted stock units that are contingent upon us achieving earnings targets over the three-year period from 2025 to 2027. These grants have been included in the activity shown above but will be subject to adjustment at the end of 2027 based on results during the three-year period.Fair ValueWe use a binomial lattice valuation model to estimate the fair value of all stock options granted. For a more detailed discussion of our stock incentive plan fair value methodology, see Note 15, “Capital Stock,” to our audited consolidated financial statements as of and for the year ended December 31, 2024 included in Part II, Item 8 of our 2024 Annual Report on Form 10-K. The following weighted-average assumptions were used to estimate the fair values of options granted during the nine months ended September 30, 2025 and 2024:Nine Months Ended September 3020252024Risk-free interest rate4.29 %4.28 %Volatility factor30.00 %28.00 %Quarterly dividend yield0.432 %0.327 %Weighted-average expected life (years)4.454.40

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The following weighted-average fair values per option or share were determined for the nine months ended September 30, 2025 and 2024: Nine Months Ended September 3020252024Options granted during the period$106.92 $134.65 Restricted stock awards granted during the period393.39 502.01 Use of Capital – Dividends and Stock Repurchase ProgramWe regularly review the appropriate use of capital, including acquisitions, common stock and debt security repurchases and dividends to shareholders. The declaration and payment of any dividends or repurchases of our common stock or debt is at the discretion of our Board of Directors and depends upon our financial condition, results of operations, future liquidity needs, regulatory and