Form 4: Elanco Executive Acquires Deferred Stock Units

Elanco Animal Health Executive Vice President Rajeev A. Modi acquired 62.5938 deferred stock units on December 26, 2025.

Summary

• Rajeev A. Modi, Executive Vice President U.S. Pet Health and Global Digital Transformation at Elanco Animal Health Inc., acquired deferred stock units.
• The transaction occurred on December 26, 2025.
• Modi acquired 62.5938 deferred stock units.
• Each deferred stock unit represents the right to receive one share of Company common stock or the cash equivalent.
• The deferred stock units 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.
• Following this transaction, Modi beneficially owns a total of 7,420.0759 deferred stock units.
• The price of the derivative security was reported as $22.6.

Sentiment

Score: 6

Explanation: The acquisition of deferred stock units by a key executive generally indicates alignment of interests with shareholders, though this is a compensation-related transaction rather than an open market purchase, making the positive sentiment mild.

Positives

• An executive acquired additional deferred stock units, which generally aligns their interests with those of shareholders.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The acquisition of deferred stock units by a key executive can be seen as a positive signal of management's commitment and alignment with long-term shareholder value.

Key Dates

Recommendation

This Form 4 reports a routine acquisition of deferred stock units as part of executive compensation. While it shows continued executive alignment, it does not provide new information that would fundamentally alter the investment thesis for Elanco Animal Health Inc., thus a 'hold' recommendation is maintained.

Keywords

Elanco, ELAN, Form 4, insider transaction, deferred stock units, executive compensation, Rajeev A. Modi