Form 4: Elanco EVP Rajeev Modi Acquires Deferred Stock Units

Elanco Animal Health's Executive Vice President, Rajeev A. Modi, acquired 57.9762 deferred stock units, increasing his beneficial ownership to 7,538.3256 units.

Summary

• Rajeev A. Modi, Executive Vice President U.S. Pet Health and Global Digital Transformation at Elanco Animal Health Inc. (ELAN), acquired 57.9762 Deferred Stock Units (DSUs).
• The transaction date for this acquisition was January 23, 2026.
• Following this transaction, Mr. Modi beneficially owns a total of 7,538.3256 Deferred Stock Units.
• Each DSU represents the right to receive one share of Company common stock or its cash equivalent.
• DSUs settle in cash or shares of common stock upon termination of employment or during a specified future year, as per the Executive Deferral and Stock Match Plan.
• The underlying common stock was valued at $24.4 per share at the time of the transaction.

Sentiment

Score: 6

Explanation: The acquisition of deferred stock units by an executive is generally viewed as a neutral to slightly positive event, indicating continued alignment of interests with shareholders, but it is a routine compensation event rather than a significant strategic move.

Positives

• An executive acquiring additional equity-like instruments (DSUs) can signal confidence in the company's future performance.
• Increased executive ownership aligns management's interests with those of shareholders.

Future Outlook

Deferred Stock Units are scheduled 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.

Industry Context

This insider transaction is a routine disclosure of executive compensation and stock ownership, common across publicly traded companies. It does not provide broader industry trends or competitive insights.

Stakeholder Impact

• Shareholders: Potentially positive, as increased executive ownership aligns management's incentives with shareholder value creation.
• Employees: No direct impact mentioned.

Next Steps

• Settlement of the Deferred Stock Units will occur upon termination of employment or during a specified future year.

Key Dates

Keywords

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