Form 4: Lilly Endowment Sells LLY Shares in Pre-Planned Trade

Lilly Endowment Inc., a 10% owner of Eli Lilly & Co., reported the sale of 526 shares of common stock for approximately $910.72 per share.

Summary

• Lilly Endowment Inc., a 10% owner of Eli Lilly & Co. (LLY), reported the sale of 526 shares of common stock.
• The transaction occurred on November 4, 2025, at a weighted average price of $910.719 per share.
• The shares were sold in multiple transactions within a price range of $910.59 to $911.00.
• Following this transaction, Lilly Endowment Inc. directly beneficially owns 93,931,452 shares of Eli Lilly & Co. common stock.
• The transaction was made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 5

Explanation: A 10% owner sold a very small portion of their holdings via a pre-planned 10b5-1 plan. This is a neutral to slightly negative signal, but the transaction size is minor relative to total ownership and unlikely to indicate a significant shift in sentiment.

Positives

• The transaction was executed under a Rule 10b5-1(c) plan, indicating a pre-scheduled sale rather than a reaction to immediate market conditions or new information.
• The volume of shares sold (526) is very small relative to Lilly Endowment Inc.'s total beneficial ownership of 93,931,452 shares, suggesting it is not a significant divestment.

Negatives

• A 10% owner, Lilly Endowment Inc., disposed of shares of common stock, which can sometimes be perceived as a slight negative signal by investors, even if the amount is small.

Future Outlook

This Form 4 filing is a report of an insider transaction and does not contain forward-looking statements or guidance regarding Eli Lilly & Co.'s future performance.

Management Comments

• Diane M. Stenson, Vice President and Treasurer, signed the Form 4 on behalf of Lilly Endowment Inc.

Industry Context

Eli Lilly & Co. is a prominent pharmaceutical company. Insider transactions, even small ones, are routinely monitored by the market as they can sometimes offer insights into the perspectives of significant shareholders. This specific transaction by a major shareholder like Lilly Endowment Inc. is noted within the broader context of the pharmaceutical industry's performance and Eli Lilly's stock trajectory.

Related Party Transactions

• Lilly Endowment Inc., identified as a 10% owner of Eli Lilly & Co., sold 526 shares of the company's common stock. This transaction is considered a related party transaction due to Lilly Endowment Inc.'s significant ownership stake.

Stakeholder Impact

• Shareholders might observe this insider sale, but given the small volume relative to total holdings, the impact on investor confidence or perception is likely minimal.
• The transaction does not directly impact employees, customers, suppliers, or creditors.

Next Steps

• The reporting person undertakes to provide Eli Lilly & Company, any security holder, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the reported range.

Key Dates

Recommendation

The reported sale of 526 shares by Lilly Endowment Inc. is a minor transaction relative to their substantial holdings (over 93 million shares) and Eli Lilly & Co.'s market capitalization. While an insider sale can sometimes signal a lack of confidence, the small volume in this instance, especially under a 10b5-1 plan, does not provide sufficient grounds to alter a 'hold' recommendation based solely on this Form 4 filing.

Keywords

Eli Lilly, LLY, Lilly Endowment, Insider Sale, Form 4, Beneficial Ownership, Pharmaceuticals, 10b5-1 Plan