Company: ELV
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001156039-25-000010
Chunk: 220

Company: Elevance Health, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 220
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 in 2024 will vest in 2027, based on certain revenue and earnings targets over the three-year period of 2024 to 2026. Performance units issued in 2023 will vest in 2026, based on certain revenue and earnings targets over the three-year period of 2023 to 2025. Performance units issued in 2022 will vest in 2025, based on certain revenue and earnings targets over the three-year period of 2022 to 2024.For the years ended December 31, 2024, 2023 and 2022, we recognized share-based compensation expense of $191, $289 and $264, respectively, as well as related tax benefits of $47, $73 and $66, respectively. A summary of stock option activity for the year ended December 31, 2024 is as follows:Number ofSharesWeighted-AverageOption Price per ShareWeighted-AverageRemainingContractual Life(Years)AggregateIntrinsicValueOutstanding at January 1, 20243.0 $327.14 Granted0.5 499.52 Exercised(0.5)286.33 Forfeited or expired(0.1)459.14 Outstanding at December 31, 20242.9 361.36 5.58$166 Exercisable at December 31, 20241.9 300.24 4.41$166 

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Elevance Health, Inc.Notes to Consolidated Financial Statements (continued)

The intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022 amounted to $123, $69 and $120, respectively. We recognized tax benefits of $21, $18 and $31 during the years ended December 31, 2024, 2023 and 2022, respectively, from option exercises and disqualifying dispositions. During the years ended December 31, 2024, 2023 and 2022, we received cash of $154, $87 and $120, respectively, from exercises of stock options.The total fair value of restricted stock awards that vested during the years ended December 31, 2024, 2023 and 2022 was $298, $285 and $261, respectively.A summary of the status of nonvested restricted stock activity, including restricted stock units and performance units, for the year ended December