Form 4: Elevance Health Executive Reports Stock Withholding for Tax Liabilities, Corrects Previous Filing Error
SEC Form 4 Filing
Elevance Health's EVP, CLO & CAO, Blair Williams Todt, reports stock withholding for tax liabilities and corrects a previous filing error related to restricted stock vesting.
Summary
- Blair Williams Todt, an EVP, CLO & CAO at Elevance Health, Inc., filed a Form 4 detailing changes in beneficial ownership.
- The report indicates the withholding of 1,127 shares of common stock on December 1, 2023, at a price of $483.12 per share, to cover tax liabilities associated with the vesting of previously granted restricted stock.
- An additional 398 shares were withheld on January 3, 2025, at $371.56 per share for the same purpose.
- The filing also notes a correction of a previous administrative error, which led to an overstatement of the reporting person's ownership by 1,127 shares in prior Form 4 filings since December 1, 2023.
- Following these transactions, Todt directly owns 15,631 shares of Elevance Health common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing primarily reports routine transactions (stock withholding for tax purposes) and corrects a past administrative error. While the error is a negative, the correction is a positive, balancing the overall sentiment.
Negatives
- An administrative error led to an overstatement of the reporting person's ownership in previous filings.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track changes in ownership and potential alignment of interests.
Stakeholder Impact
- Shareholders are informed about changes in insider ownership, promoting transparency.
- The correction of the administrative error ensures accurate information is available to stakeholders.
Key Dates
| Date | Description |
|---|---|
| 12/01/2023 | Withholding of 1,127 shares for tax liability; date of administrative error leading to overstatement of ownership in previous filings. |
| 01/03/2025 | Withholding of 398 shares for tax liability. |
| 01/07/2025 | Date of signature on the Form 4 filing. |
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