Form 4: Elanco EVP Modi Acquires Deferred Stock Units

Rajeev A. Modi, Elanco Animal Health's Executive Vice President, acquired 73.6781 deferred stock units, increasing his beneficial ownership to 6,964.7245 units.

Summary

• Rajeev A. Modi, Executive Vice President U.S. Pet Health and Global Digital Transformation at Elanco Animal Health Inc., reported an acquisition of deferred stock units.
• On September 19, 2025, Modi acquired 73.6781 Deferred Stock Units (DSUs).
• Each DSU represents the right to receive one share of Company common stock or its cash equivalent.
• The DSUs were acquired at a price of $19.2 per unit.
• Following this transaction, Modi beneficially owns 6,964.7245 derivative securities (DSUs).
• These DSUs settle in cash or shares of common stock upon termination of employment or during a specified future year, in accordance with the Executive Deferral and Stock Match Plan.

Sentiment

Score: 5

Explanation: The filing reports a routine acquisition of deferred stock units by an executive, which is a standard compensation event and does not inherently indicate a strong positive or negative sentiment regarding the company's performance or prospects.

Positives

• The acquisition of deferred stock units by a key executive aligns management's interests with those of shareholders.
• Increased beneficial ownership by a senior executive can signal confidence in the company's long-term prospects.

Negatives

• No direct negative implications are apparent from this routine insider transaction filing.

Risks

• Intentional misstatements or omissions of facts in the filing constitute Federal Criminal Violations under 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Future Outlook

This filing is a routine report of an insider transaction and does not contain forward-looking statements or guidance regarding the company's future performance or strategic outlook.

Industry Context

This Form 4 filing reports a routine executive compensation event and does not provide information that allows for a direct analysis of broader industry trends or competitive positioning within the animal health sector.

Stakeholder Impact

• Shareholders: The acquisition of deferred stock units by a key executive can be viewed positively as it increases management's alignment with shareholder interests.
• Employees: No direct impact on general employees is indicated by this filing.
• Management: The transaction represents a component of executive compensation, contributing to the executive's overall remuneration and long-term incentives.

Next Steps

• The deferred stock units will settle in cash or shares of Elanco Animal Health common stock following termination of employment or during a specified future year, in accordance with the Executive Deferral and Stock Match Plan.

Key Dates

Keywords

Elanco Animal Health, ELAN, Rajeev A. Modi, Form 4, Insider Transaction, Deferred Stock Units, DSU, Executive Compensation, Beneficial Ownership