Form 4: Elanco EVP Acquires Deferred Stock Units

Elanco Animal Health Inc. Executive Vice President Rajeev A. Modi acquired 84.8602 deferred stock units, aligning executive incentives with company performance.

Summary

• Rajeev A. Modi, Executive Vice President U.S. Pet Health and Global Digital Transformation at Elanco Animal Health Inc. (ELAN), acquired 84.8602 deferred stock units (DSUs).
• The acquisition occurred on August 8, 2025, at a price of $16.67 per DSU.
• Following this transaction, Rajeev A. Modi directly beneficially owns 6,735.3051 deferred stock units.
• Each deferred stock unit represents the right to receive one share of Company common stock or its cash equivalent.
• The deferred stock units are set to settle in cash or shares of Company common stock following termination of employment or during a specified future year, in accordance with the Executive Deferral and Stock Match Plan.

Sentiment

Score: 7

Explanation: The acquisition of deferred stock units by an executive is generally viewed positively as it aligns management's interests with shareholders, though the amount is relatively small and part of a compensation plan.

Positives

• The acquisition of deferred stock units by an executive aligns management's financial interests with those of shareholders, potentially indicating confidence in the company's future performance.
• The transaction is part of a structured executive compensation plan, which can help retain key talent.

Future Outlook

Deferred stock units are designed to settle in cash or shares of common stock upon termination of employment or during a specified future year, indicating a long-term incentive structure for the executive.

Industry Context

This filing represents a routine insider transaction related to executive compensation within the animal health industry, reflecting standard practices for aligning executive incentives with company performance.

Stakeholder Impact

• Shareholders: The transaction aligns the executive's long-term interests with shareholder value through equity-based compensation.

Next Steps

• Deferred stock units will settle in cash or shares of Company common stock following termination of employment or during a specified future year.

Key Dates

Keywords

Elanco, ELAN, Insider Transaction, Form 4, Deferred Stock Units, Executive Compensation, Rajeev Modi, Animal Health