Form 4: Lilly Endowment Sells LLY Shares

Lilly Endowment Inc., a 10% owner of Eli Lilly & Co., reported the sale of 240 shares of common stock for approximately $1,085 per share.

Summary

• Lilly Endowment Inc., a 10% owner and director of Eli Lilly & Co. (LLY), reported a transaction involving the company's common stock.
• On December 23, 2025, Lilly Endowment Inc. disposed of 240 shares of Eli Lilly & Co. common stock.
• The shares were sold at a weighted average price of $1,085.038 per share, with individual transaction prices ranging from $1,085.00 to $1,085.08.
• Following this transaction, Lilly Endowment Inc. directly beneficially owns 92,196,738 shares of Eli Lilly & Co. common stock.
• The transaction was executed pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 5

Explanation: Neutral. The transaction is a routine insider sale under a 10b5-1 plan, involving a very small number of shares relative to the reporting person's total holdings, indicating no significant change in sentiment or material new information.

Positives

• The transaction was executed under a Rule 10b5-1(c) plan, indicating a pre-arranged sale not based on new material non-public information.
• The sale represents a very small fraction of Lilly Endowment Inc.'s total holdings (240 shares out of over 92 million), suggesting no significant change in investment conviction.

Negatives

• A 10% owner and director sold shares, which could be interpreted as a slight negative signal, although the quantity is minimal.

Future Outlook

No forward-looking statements or guidance are provided in this Form 4 filing.

Industry Context

This Form 4 filing reports an insider transaction and does not provide information relevant to broader industry trends or competitors. The transaction itself is too small to have industry-wide implications.

Related Party Transactions

• The transaction involves Lilly Endowment Inc., a 10% owner and director of Eli Lilly & Co., selling shares of the company's common stock, which is considered a related party transaction.

Stakeholder Impact

• Shareholders: Minimal direct impact due to the small number of shares sold relative to total outstanding shares and the reporting person's holdings. The sale under a 10b5-1 plan suggests it is a planned liquidity event rather than a reaction to new information.

Key Dates

Recommendation

The filing reports a routine, pre-scheduled sale of a de minimis number of shares by a 10% owner under a Rule 10b5-1 plan. This transaction does not provide any new material information that would warrant a change in investment recommendation for Eli Lilly & Co. The fundamental investment thesis remains unchanged based on this filing.

Keywords

Eli Lilly, LLY, Lilly Endowment, Insider Trading, Form 4, Stock Sale, Beneficial Ownership, Pharmaceuticals, Biotechnology, Rule 10b5-1