Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-17

Elevance Health (ELV)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$22,582,314
Gail Boudreaux total, FY2025
33rd
CEO pay percentile vs peers
286:1
CEO-to-median pay ratio
95.97%
Say-on-pay support, latest vote
Companies that benchmark against ELV
13 companies name ELV as a compensation peer

Each company listed discloses ELV in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named ELV in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Gail Boudreaux$1,600,000$0$13,440,277$4,199,765$2,768,000$0$574,272$22,582,314
President and Chief Executive Officer
Mark Kaye938,46204,560,5111,424,506974,123094,4757,992,077
Executive Vice President and Chief Financial Officer
Peter Haytaian950,00003,840,3061,199,710986,1000122,3727,098,488
Executive Vice President and President of Carelon and CarelonRx
Felicia Norwood950,00003,840,3061,199,710986,100097,8497,073,965
Executive Vice President and President of Government Health Benefits
C. Morgan Kendrick888,46203,600,2371,124,813922,22323,417102,7596,661,911
Executive Vice President and President of Commercial and Specialty Health Benefits

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Gail Boudreaux$22,582,314$20,471,976$21,889,039+2,110,338
Mark Kaye7,992,0776,873,14412,359,201+1,118,933
Peter Haytaian7,098,4886,345,1276,978,051+753,361
Felicia Norwood7,073,9656,288,9466,475,408+785,019
C. Morgan Kendrick6,661,911

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Antonio F. NeriDirector2026-05-13A563$0$0CommonForm 4 ↗
Lewis Hay IIIDirector2026-05-13A56300CommonForm 4 ↗
Bahija JallalDirector2026-05-13A56300CommonForm 4 ↗
Amy W. SchulmanDirector2026-05-13A56300CommonForm 4 ↗
Ryan M. SchneiderDirector2026-05-13A56300CommonForm 4 ↗
Ramiro G. PeruDirector2026-05-13A56300CommonForm 4 ↗
Robert L. Dixon JrDirector2026-05-13A56300CommonForm 4 ↗
Susan D. DeVoreDirector2026-05-13A56300CommonForm 4 ↗
Steven H. CollisDirector2026-05-13A56300CommonForm 4 ↗
Deanna D. Strable-SoethoutDirector2026-05-13A56300CommonForm 4 ↗
Ronald W. PenczekCAO & Controller2026-05-19A877311273,168CommonForm 4 ↗
Dividend-equivalent accruals2026-05-191,5311 insider, 2 accrual rows
Ronald W. PenczekCAO & Controller2026-05-19A654271177,411CommonForm 4 ↗
Ronald W. PenczekCAO & Controller2026-05-19D1,531403617,192CommonForm 4 ↗
Robert L. Dixon JrDirector2026-06-11D15140260,667CommonForm 4 ↗
Ronald W. PenczekCAO & Controller2026-06-12D369403148,766Common, open-market saleForm 4 ↗
Gail BoudreauxDirector2026-07-17A2,045368753,071CommonForm 4 ↗
Ramiro G. PeruDirector2026-07-17A1,000366366,050CommonForm 4 ↗
Gail BoudreauxDirector2026-07-17A680366249,159CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

View all 20 transactions
InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Antonio F. NeriDirector2026-05-13A563$0$0CommonForm 4 ↗
Lewis Hay IIIDirector2026-05-13A56300CommonForm 4 ↗
Bahija JallalDirector2026-05-13A56300CommonForm 4 ↗
Amy W. SchulmanDirector2026-05-13A56300CommonForm 4 ↗
Ryan M. SchneiderDirector2026-05-13A56300CommonForm 4 ↗
Ramiro G. PeruDirector2026-05-13A56300CommonForm 4 ↗
Robert L. Dixon JrDirector2026-05-13A56300CommonForm 4 ↗
Susan D. DeVoreDirector2026-05-13A56300CommonForm 4 ↗
Steven H. CollisDirector2026-05-13A56300CommonForm 4 ↗
Deanna D. Strable-SoethoutDirector2026-05-13A56300CommonForm 4 ↗
Ronald W. PenczekCAO & Controller2026-05-19A877311273,168CommonForm 4 ↗
Ronald W. PenczekCAO & Controller2026-05-19D65400Derivative, Class A CommonForm 4 ↗
Ronald W. PenczekCAO & Controller2026-05-19D87700Derivative, Class A CommonForm 4 ↗
Ronald W. PenczekCAO & Controller2026-05-19A654271177,411CommonForm 4 ↗
Ronald W. PenczekCAO & Controller2026-05-19D1,531403617,192CommonForm 4 ↗
Robert L. Dixon JrDirector2026-06-11D15140260,667CommonForm 4 ↗
Ronald W. PenczekCAO & Controller2026-06-12D369403148,766Common, open-market saleForm 4 ↗
Gail BoudreauxDirector2026-07-17A2,045368753,071CommonForm 4 ↗
Ramiro G. PeruDirector2026-07-17A1,000366366,050CommonForm 4 ↗
Gail BoudreauxDirector2026-07-17A680366249,159CommonForm 4 ↗
03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Peter HaytaianPSU2025-03-036,67513,350$2,639,963
Mark KayeOPTION2025-03-0313,7131,424,506
Peter HaytaianRSU2025-03-033,0351,200,343
C. Morgan KendrickRSU2025-03-032,8451,125,198
C. Morgan KendrickPSU2025-03-036,25812,5162,475,039
Felicia NorwoodPSU2025-03-032,639,963
Mark KayePSU2025-03-033,135,129
Mark KayeRSU2025-03-033,6041,425,382
C. Morgan KendrickOPTION2025-03-0310,8281,124,813
Peter HaytaianOPTION2025-03-0311,5491,199,710
Gail BoudreauxOPTION2025-03-0340,4294,199,765
Felicia NorwoodOPTION2025-03-0311,5491,199,710
Felicia NorwoodRSU2025-03-033,0351,200,343
Gail BoudreauxRSU2025-03-0310,6204,200,210
Gail BoudreauxPSU2025-03-039,240,067
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Peter Haytaian$1,200,343$2,639,963$1,199,71052.4%
Mark Kaye1,425,3823,135,1291,424,50652.4%
C. Morgan Kendrick1,125,1982,475,0391,124,81352.4%
Felicia Norwood1,200,3432,639,9631,199,71052.4%
Gail Boudreaux4,200,2109,240,0674,199,76552.4%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Felicia NorwoodRSU8,268$2,898,347
Felicia NorwoodPSU11,4834,025,366
Peter HaytaianRSU8,2682,898,347
Felicia NorwoodOption11,549395.5
Gail BoudreauxPSU40,19314,089,656
Mark KayeRSU14,8275,197,605
C. Morgan KendrickRSU7,4892,625,269
C. Morgan KendrickPSU10,5663,703,911
Peter HaytaianPSU11,4834,025,366
Gail BoudreauxRSU29,56510,364,011
C. Morgan KendrickOption5,542499.11
Gail BoudreauxOption40,429395.5
Gail BoudreauxOption10,794469.03
Gail BoudreauxOption21,654499.11
Mark KayeOption13,713395.5
Mark KayeOption7,089499.11
Peter HaytaianOption2,938469.03
Peter HaytaianOption6,187499.11
Peter HaytaianOption11,549395.5
Felicia NorwoodOption2,938469.03
Felicia NorwoodOption6,187499.11
C. Morgan KendrickOption2,596469.03
C. Morgan KendrickOption10,828395.5
Mark KayePSU13,4374,710,340
Mark KayeOption2,692440.19
05

Incentive-plan design — the Compensation Discussion & Analysis

Our executive compensation program, which we refer to as Total Rewards, is designed to: Attract, engage, motivate, retain and appropriately reward executives for their contributions to our business, our consumers, our associates and our shareholders. Closely align executive interests and rewards with the interests of our shareholders. Demonstrate the commitment of our Company and our Board to integrate the interests of our stakeholders (consumers, shareholders, providers and associates) with our practices and executive rewards. Drive the achievement of the Company's purpose, values and strategy. Deliver compensation that is commensurate with Company and individual performance within the context of the external market.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantWillis Towers Watson (WTW)
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-13172,363,6167,240,619199,53495.97%Passed
20252025-05-14173,964,58015,522,459238,31091.81%Passed
20242024-05-15179,754,21215,863,613656,97091.89%Passed
20232023-05-10187,532,30711,449,434665,50194.25%Passed
20222022-05-18187,509,04215,306,362744,90292.45%Passed
20212021-05-26190,414,08113,239,807296,89493.5%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1395.97%a
20252025-05-1491.81%b
20242024-05-1591.89%c

a. Approved under the standard stated in the filing — “Abstentions will have no effect on the outcome of any proposal.”.

b. Approved under the standard stated in the filing — “Abstentions will have no effect on the outcome of any proposal.”.

c. Approved under the standard stated in the filing — “Abstentions will have no effect on the outcome of any proposal.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)286 : 1
CEO total compensation$22,582,314
Median employee compensation$79,007
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Ramiro G. PeruIndependent · Board Chair · Compensation and Talent · Governance$299,750$224,948$0$28,621$553,319
Elizabeth E. TallettIndependent · Audit · Finance · Departed during FY144,846259,51500404,361
Ryan M. SchneiderIndependent · Audit (Chair) · Governance155,052224,948018,621398,621
Bahija JallalIndependent · Compensation and Talent · Governance (Chair)155,052224,948018,621398,621
Antonio F. NeriIndependent · Compensation and Talent (Chair) · Governance143,925224,948018,622387,495
Susan D. DeVoreIndependent · Compensation and Talent · Finance (Chair)143,925224,948010,001378,874
R. Kerry ClarkIndependent · Audit · Finance · Not standing for re-election136,178224,948010,000371,126
Robert L. Dixon JrIndependent · Compensation and Talent · Finance125,052224,948018,621368,621
Deanna D. StrableIndependent · Audit · Governance125,052224,948010,000360,000
Lewis Hay IIIIndependent · Audit · Finance125,052224,948010,000360,000
Steven H. CollisIndependent · Audit · Finance52,147175,508010,000237,655
Amy W. SchulmanIndependent · Audit · Finance · Newly elected00000
Gail K. BoudreauxEmployee director00000
09

Board fee structure and ownership guideline

Annual cash retainer$125,000
Annual equity retainer$225,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)30,000 / 30,000 / 30,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,606,031
Equity awards (grant-date value)$2,459,555
All other compensation$153,107
Total cost of the board$4,218,693

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Elevance Health names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Elevance Health.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1The Walt Disney Company2025Robert Iger$1,000,000$21,000,057$14,000,006$7,250,000$45,842,574
2JPMorgan Chase & Co.2025James Dimon1,500,00032,500,00040,632,724
3Morgan Stanley2025Edward Pick1,500,00024,476,4630037,187,657
4Comcast Corporation2025Brian Roberts2,600,96223,473,07608,583,17535,148,413
5Valero Energy Corporation2025R. Lane Riggs1,720,00015,760,53605,482,81034,228,523
6Johnson & Johnson2025Joaquin Duato1,600,00015,028,9485,927,9954,298,70032,758,111
7AT&T Inc.2025John Stankey2,400,00019,500,01206,272,00029,906,872
8Ford Motor Company2025James Farley Jr.1,700,00018,868,30905,746,00027,519,558
9Chevron Corporation2025Michael Wirth1,900,00013,524,9954,376,6403,562,50026,828,240
10Meta Platforms, Inc.2025Mark Zuckerberg100025,125,904
11McKesson Corporation2026Brian Tyler1,591,66717,201,20204,456,66824,213,044
12PepsiCo, Inc.2025Ramon Laguarta1,804,61511,550,00805,771,00023,903,545
13Phillips 662025Mark Lashier1,741,66716,185,20403,734,13423,113,403
14United Parcel Service, Inc.2025Carol Tomé1,509,71317,550,5461,358,7542,264,56922,878,788
15Elevance Health2025Gail Boudreaux1,600,00013,440,2774,199,7652,768,00022,582,314
16The Procter & Gamble Company2025Jon Moeller1,637,50011,519,6456,562,515021,909,816
17Target Corporation2025Brian Cornell1,400,00018,555,2800787,92021,830,088
18Lowe's Companies, Inc.2025Marvin Ellison1,544,23112,480,4674,262,8953,232,69321,581,889
19CVS Health Corporation2025J. David Joyner1,500,00014,499,93104,695,90021,214,084
20Marathon Petroleum Corporation2025Maryann Mannen1,400,00013,391,32203,303,30019,016,261
21Cardinal Health, Inc.2025Jason Hollar1,492,32913,431,44103,551,74218,976,195
22The Home Depot, Inc.2025Edward Decker1,400,0009,612,2512,369,9172,657,63116,191,127
23The Kroger Co.2025Ronald L. Sargent3,975,80610,000,07714,037,608
24Alphabet Inc.2025Sundar Pichai2,007,69200010,906,079
25Dell Technologies Inc.2026Michael Dell950,000002,394,0003,382,209
26Walgreens Boots Alliance, Inc.2024Ginger Graham00002,500,000
27Amazon.com, Inc.2025Andrew Jassy365,0000002,069,861
28Tesla, Inc.2024Elon Musk00000
Berkshire Hathaway Inc.not in coverage universe
Federal National Mortgage Associationnot in coverage universe
Federal Home Loan Mortgage Corporationnot in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Elevance Health86.5%PSU 52 · RSU 24 · Options 24NoWillis Towers Watson (WTW)
Alphabet Inc.not disclosednot disclosednot disclosedCompensia Inc. and Semler Brossy
Amazon.com, Inc.not disclosedRSU 100not disclosedNone (Committee may engage compensation consultants but did not do so in 2025)
AT&T Inc.112%PSU 75 · RSU 25Yes — Relative Total Stockholder Return (TSR) Payout ModifierFrederic W. Cook & Co., Inc. (FW Cook)
Berkshire Hathaway Inc.not disclosednot disclosednot disclosednot disclosed
Cardinal Health, Inc.136%PSU 60 · RSU 40Yes — Relative TSR modifierKorn Ferry
Chevron Corporation125%PSU 50 · RSU 25 · Options 25Yes — Relative Total Stockholder Return (TSR)Meridian Compensation Partners, LLC
Comcast Corporation110%PSU 100Yes — Relative TSR ModifierKorn Ferry
CVS Health Corporation156.5%PSU 60 · RSU 20 · Options 20Yes — rTSR ModifierKorn Ferry
Dell Technologies Inc.126%not disclosedYes — Relative Total Shareholder Return (rTSR)Pay Governance
Federal Home Loan Mortgage Corporationnot disclosednot disclosednot disclosednot disclosed
Federal National Mortgage Associationnot disclosednot disclosednot disclosednot disclosed
Ford Motor Company130%PSU 60 · RSU 40Yes — rTSR (relative Total Shareholder Return)Not explicitly named in CD&A
Johnson & Johnsonnot disclosednot disclosednot disclosedSemler Brossy Consulting Group
JPMorgan Chase & Co.not disclosedcash 40 · PSU 30 · RSU 30Nonot disclosed
Lowe's Companies, Inc.104.67%PSU 50 · Options 25 · RSU 25NoSemler Brossy Consulting Group, LLC
Marathon Petroleum Corporation143%not disclosedYes — Relative TSRFW Cook
McKesson Corporation140%PSU 60 · RSU 40Yes — Total Shareholder Return (TSR) relative to comparator groupKorn Ferry
Meta Platforms, Inc.115%RSU 100not disclosedCompensia, Inc.
Morgan Stanleynot disclosedPSU 100NoSemler Brossy
PepsiCo, Inc.not disclosednot disclosedYes — Relative TSR PerformanceFW Cook
Phillips 66134%PSU 70 · RSU 30Yes — Relative TSRMercer
Target Corporationnot disclosedPSU 60 · RSU 40NoSemler Brossy
Tesla, Inc.not disclosedOptions 80 · RSU 20NoCompensia, Inc.
The Home Depot, Inc.95%PSU 50 · RSU 30 · Options 20NoPay Governance
The Kroger Co.93.84%not disclosedYes — Value creation (iTSR)Korn Ferry; Meridian Compensation Partners, LLC
The Procter & Gamble Company57%PSU 50Yes — Relative TSR MultiplierMeridian Compensation Partners, LLC
The Walt Disney Company144.4%PSU 60 · Options 40Yes — TSR performance relative to the S&P 500 Media & Entertainment IndexPay Governance LLC
United Parcel Service, Inc.75%PSU 93 · Options 7Yes — Relative Total Shareowner Return (RTSR)FW Cook
Valero Energy Corporation199.23%PSU 50 · RSU 50Yes — Relative TSRExequity LLP
Walgreens Boots Alliance, Inc.not disclosedRSU 100not disclosedMercer

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Gail BoudreauxDEF 14A2026-03-270001156039-26-000031Section “Summary Compensation Table” · page 58. As printed: 22,582,314. Filing ↗machine: span 1161376–1161386
2Section 01, Mark KayeDEF 14A2026-03-270001156039-26-000031Section “Summary Compensation Table” · page 58. As printed: 7,992,077. Filing ↗machine: span 1176586–1176595
3Section 01, Peter HaytaianDEF 14A2026-03-270001156039-26-000031Section “Summary Compensation Table” · page 58. As printed: 7,098,488. Filing ↗machine: span 1191792–1191801
4Section 01, Felicia NorwoodDEF 14A2026-03-270001156039-26-000031Section “Summary Compensation Table” · page 58. As printed: 7,073,965. Filing ↗machine: span 1206997–1207006
5Section 01, C. Morgan KendrickDEF 14A2026-03-270001156039-26-000031Section “Summary Compensation Table” · page 58. As printed: 6,661,911. Filing ↗machine: span 1222257–1222266
6Section 03, Peter Haytaian PSUDEF 14A2026-03-270001156039-26-000031Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t168 · r12 · c8 · span 1320462–1320467
7Section 03, Mark Kaye OPTIONDEF 14A2026-03-270001156039-26-000031Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t168 · r10 · c10 · span 1315069–1315075
8Section 03, Peter Haytaian RSUDEF 14A2026-03-270001156039-26-000031Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t168 · r13 · c9 · span 1323053–1323058
9Section 03, C. Morgan Kendrick RSUDEF 14A2026-03-270001156039-26-000031Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t151 · r6 · c11 · span 1091270–1091279
10Section 03, C. Morgan Kendrick PSUDEF 14A2026-03-270001156039-26-000031Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t151 · r6 · c3 · span 1089546–1089555
11Section 03, Felicia Norwood PSUDEF 14A2026-03-270001156039-26-000031Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t151 · r5 · c3 · span 1086229–1086238
12Section 03, Mark Kaye PSUDEF 14A2026-03-270001156039-26-000031Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t151 · r3 · c3 · span 1079870–1079879
13Section 03, Mark Kaye RSUDEF 14A2026-03-270001156039-26-000031Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t168 · r9 · c9 · span 1312829–1312834
14Section 03, C. Morgan Kendrick OPTIONDEF 14A2026-03-270001156039-26-000031Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t168 · r22 · c10 · span 1346128–1346134
15Section 03, Peter Haytaian OPTIONDEF 14A2026-03-270001156039-26-000031Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t168 · r14 · c10 · span 1325293–1325299
16Section 03, Gail Boudreaux OPTIONDEF 14A2026-03-270001156039-26-000031Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t168 · r6 · c10 · span 1304850–1304856
17Section 03, Felicia Norwood OPTIONDEF 14A2026-03-270001156039-26-000031Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t168 · r18 · c10 · span 1335518–1335524
18Section 03, Felicia Norwood RSUDEF 14A2026-03-270001156039-26-000031Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t168 · r17 · c9 · span 1333278–1333283
19Section 03, Gail Boudreaux RSUDEF 14A2026-03-270001156039-26-000031Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t168 · r5 · c9 · span 1302609–1302615
20Section 03, Gail Boudreaux PSUDEF 14A2026-03-270001156039-26-000031Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t151 · r2 · c3 · span 1076721–1076730
21Section 07, pay ratioDEF 14A2026-03-270001156039-26-000031Section “CEO Pay Ratio”. As printed: 286 : 1. Filing ↗machine: span 70568–70571
22Section 08, Ramiro G. PeruDEF 14A2026-03-270001156039-26-000031Section “Director Compensation”. As printed: 553,319. Filing ↗machine: t105 · r9 · c17 · span 802198–802205
23Section 08, Elizabeth E. TallettDEF 14A2026-03-270001156039-26-000031Section “Director Compensation”. As printed: 404,361. Filing ↗machine: t105 · r12 · c17 · span 812530–812537
24Section 08, Ryan M. SchneiderDEF 14A2026-03-270001156039-26-000031Section “Director Compensation”. As printed: 398,621. Filing ↗machine: t105 · r10 · c17 · span 805512–805519
25Section 08, Bahija JallalDEF 14A2026-03-270001156039-26-000031Section “Director Compensation”. As printed: 398,621. Filing ↗machine: t105 · r7 · c17 · span 796027–796034
26Section 08, Antonio F. NeriDEF 14A2026-03-270001156039-26-000031Section “Director Compensation”. As printed: 387,495. Filing ↗machine: t105 · r8 · c17 · span 799113–799120
27Section 08, Susan D. DeVoreDEF 14A2026-03-270001156039-26-000031Section “Director Compensation”. As printed: 378,874. Filing ↗machine: t105 · r4 · c17 · span 786540–786547
28Section 08, R. Kerry ClarkDEF 14A2026-03-270001156039-26-000031Section “Director Compensation”. As printed: 371,126. Filing ↗machine: t105 · r2 · c17 · span 780359–780366
29Section 08, Robert L. Dixon JrDEF 14A2026-03-270001156039-26-000031Section “Director Compensation”. As printed: 368,621. Filing ↗machine: r5 · c17 · span 789631–789638
30Section 08, Deanna D. StrableDEF 14A2026-03-270001156039-26-000031Section “Director Compensation”. As printed: 360,000. Filing ↗machine: t105 · r11 · c17 · span 808600–808607
31Section 08, Lewis Hay IIIDEF 14A2026-03-270001156039-26-000031Section “Director Compensation”. As printed: 360,000. Filing ↗machine: r6 · c17 · span 792716–792723
32Section 08, Steven H. CollisDEF 14A2026-03-270001156039-26-000031Section “Director Compensation”. As printed: 237,655. Filing ↗machine: t105 · r3 · c17 · span 783454–783461
33Section 08, Amy W. SchulmanDEF 14A2026-03-270001156039-26-000031Section “Director Compensation”. As printed: 0. Filing ↗
34Section 08, Gail K. BoudreauxDEF 14A2026-03-270001156039-26-000031Section “Director Compensation”. As printed: 0. Filing ↗
35Section 02, Antonio F. Neri 2026-05-13Form 42026-05-150001648401-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Lewis Hay III 2026-05-13Form 42026-05-150001182705-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Bahija Jallal 2026-05-13Form 42026-05-150001730038-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Amy W. Schulman 2026-05-13Form 42026-05-150001438226-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Ryan M. Schneider 2026-05-13Form 42026-05-150001420501-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Ramiro G. Peru 2026-05-13Form 42026-05-150001192045-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Robert L. Dixon Jr 2026-05-13Form 42026-05-150001524849-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Susan D. DeVore 2026-05-13Form 42026-05-150001587697-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Steven H. Collis 2026-05-13Form 42026-05-150001191508-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Deanna D. Strable-Soethout 2026-05-13Form 42026-05-150001628280-26-035643Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Ronald W. Penczek 2026-05-19Form 42026-05-200001659075-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Ronald W. Penczek 2026-05-19Form 42026-05-200001659075-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Ronald W. Penczek 2026-05-19Form 42026-05-200001659075-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Ronald W. Penczek 2026-05-19Form 42026-05-200001659075-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, Ronald W. Penczek 2026-05-19Form 42026-05-200001659075-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, Robert L. Dixon Jr 2026-06-11Form 42026-06-120001524849-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, Ronald W. Penczek 2026-06-12Form 42026-06-150001659075-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, Gail Boudreaux 2026-07-17Form 42026-07-170001287920-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, Ramiro G. Peru 2026-07-17Form 42026-07-170001192045-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, Gail Boudreaux 2026-07-17Form 42026-07-170001287920-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
55Section 06, 2026 voteForm 8-K2026-05-130001156039-26-000046Item 5.07 · say-on-pay result. As reported: 95.97% (votes for as printed: 172,363,616). Filing ↗
56Section 06, 2025 voteForm 8-K2025-05-140001156039-25-000065Item 5.07 · say-on-pay result. As reported: 91.81% (votes for as printed: 173,964,580). Filing ↗
57Section 06, 2024 voteForm 8-K2024-05-150001156039-24-000069Item 5.07 · say-on-pay result. As reported: 91.89% (votes for as printed: 179,754,212). Filing ↗
58Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
59Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
60Section 09b board cost (computed)ComputedcomputedCash 1,606,031 + equity 2,459,555 + all other 153,107 = 4,218,693, summed across the director compensation table rows.machine: formula: Σ = 4,218,693
61The Walt Disney Company, Section 10b CEO totalDEF 14A2026-01-220001744489-26-000013CEO total compensation as printed in The Walt Disney Company's own proxy. As printed: 45,842,574. Filing ↗machine: r3 · c27 · span 1324221–1324231
62JPMorgan Chase & Co., Section 10b CEO totalDEF 14A2026-04-060000019617-26-000096CEO total compensation as printed in JPMorgan Chase & Co.'s own proxy. As printed: 40,632,724. Filing ↗machine: span 1754306–1754316
63Morgan Stanley, Section 10b CEO totalDEF 14A2026-04-020001140361-26-012975CEO total compensation as printed in Morgan Stanley's own proxy. As printed: 37,187,657. Filing ↗machine: t623 · r2 · c22 · span 1563319–1563329
64Comcast Corporation, Section 10b CEO totalDEF 14A2026-04-240001193125-26-177138CEO total compensation as printed in Comcast Corporation's own proxy. As printed: 35,148,413. Filing ↗machine: r4 · c25 · span 1522252–1522262
65Valero Energy Corporation, Section 10b CEO totalDEF 14ACEO total compensation as printed in Valero Energy Corporation's own proxy. As printed: 34,228,523.
66Johnson & Johnson, Section 10b CEO totalDEF 14A2026-03-110000200406-26-000063CEO total compensation as printed in Johnson & Johnson's own proxy. As printed: 32,758,111. Filing ↗machine: r3 · c27 · span 1621235–1621246
67AT&T Inc., Section 10b CEO totalDEF 14A2026-03-230001193125-26-119888CEO total compensation as printed in AT&T Inc.'s own proxy. As printed: 29,906,872. Filing ↗machine: t295 · r3 · c35 · span 1189292–1189302
68Ford Motor Company, Section 10b CEO totalDEF 14A2026-03-270001552781-26-000164CEO total compensation as printed in Ford Motor Company's own proxy. As printed: 27,519,558. Filing ↗machine: t347 · span 1299844–1299854
69Chevron Corporation, Section 10b CEO totalDEF 14A2026-04-070001193125-26-145617CEO total compensation as printed in Chevron Corporation's own proxy. As printed: 26,828,240. Filing ↗machine: span 1241206–1241216
70Meta Platforms, Inc., Section 10b CEO totalDEF 14A2026-04-160001628280-26-025532CEO total compensation as printed in Meta Platforms, Inc.'s own proxy. As printed: 25,125,904. Filing ↗machine: r2 · c36 · span 652962–652972
71McKesson Corporation, Section 10b CEO totalDEF 14A2026-06-120000927653-26-000169CEO total compensation as printed in McKesson Corporation's own proxy. As printed: 24,213,044. Filing ↗machine: r2 · c21 · span 1260172–1260182
72PepsiCo, Inc., Section 10b CEO totalDEF 14A2026-03-270001308179-26-000169CEO total compensation as printed in PepsiCo, Inc.'s own proxy. As printed: 23,903,545. Filing ↗machine: r2 · c20 · span 826280–826290
73Phillips 66, Section 10b CEO totalDEF 14A2026-04-020001534701-26-000010CEO total compensation as printed in Phillips 66's own proxy. As printed: 23,113,403. Filing ↗machine: t231 · r4 · c13 · span 1318456–1318466
74United Parcel Service, Inc., Section 10b CEO totalDEF 14A2026-03-190001628280-26-019856CEO total compensation as printed in United Parcel Service, Inc.'s own proxy. As printed: 22,878,788. Filing ↗machine: r2 · c27 · span 899122–899132
75Elevance Health (subject), Section 10b CEO totalDEF 14A2026-03-270001156039-26-000031CEO total compensation as printed in Elevance Health's own proxy. As printed: 22,582,314. Filing ↗machine: span 1161376–1161386
76The Procter & Gamble Company, Section 10b CEO totalDEF 14A2025-08-290001193125-25-191749CEO total compensation as printed in The Procter & Gamble Company's own proxy. As printed: 21,909,816. Filing ↗machine: t160 · r6 · c44 · span 892224–892234
77Target Corporation, Section 10b CEO totalDEF 14A2026-04-270001628280-26-027508CEO total compensation as printed in Target Corporation's own proxy. As printed: 21,830,088. Filing ↗machine: r2 · c8 · span 2775825–2775836
78Lowe's Companies, Inc., Section 10b CEO totalDEF 14A2026-04-160000060667-26-000056CEO total compensation as printed in Lowe's Companies, Inc.'s own proxy. As printed: 21,581,889. Filing ↗machine: r2 · c8 · span 2406556–2406566
79CVS Health Corporation, Section 10b CEO totalDEF 14A2026-04-030001308179-26-000201CEO total compensation as printed in CVS Health Corporation's own proxy. As printed: 21,214,084. Filing ↗machine: r1 · c18 · span 969864–969874
80Marathon Petroleum Corporation, Section 10b CEO totalDEF 14A2026-03-160001510295-26-000023CEO total compensation as printed in Marathon Petroleum Corporation's own proxy. As printed: 19,016,261. Filing ↗machine: t228 · r3 · c8 · span 2936922–2936932
81Cardinal Health, Inc., Section 10b CEO totalDEF 14A2025-09-160000721371-25-000114CEO total compensation as printed in Cardinal Health, Inc.'s own proxy. As printed: 18,976,195. Filing ↗machine: r2 · c24 · span 1215211–1215221
82The Home Depot, Inc., Section 10b CEO totalDEF 14A2026-04-070000354950-26-000090CEO total compensation as printed in The Home Depot, Inc.'s own proxy. As printed: 16,191,127. Filing ↗machine: t169 · r4 · c15 · span 1200990–1201000
83The Kroger Co., Section 10b CEO totalDEF 14A2026-05-130001104659-26-060250CEO total compensation as printed in The Kroger Co.'s own proxy. As printed: 14,037,608. Filing ↗machine: t229 · r1 · c9 · span 692555–692565
84Alphabet Inc., Section 10b CEO totalDEF 14A2026-04-240001308179-26-000342CEO total compensation as printed in Alphabet Inc.'s own proxy. As printed: 10,906,079. Filing ↗machine: span 994293–994303
85Dell Technologies Inc., Section 10b CEO totalDEF 14A2026-05-150001193125-26-226734CEO total compensation as printed in Dell Technologies Inc.'s own proxy. As printed: 3,382,209. Filing ↗machine: t353 · r3 · c27 · span 1739073–1739082
86Walgreens Boots Alliance, Inc., Section 10b CEO totalDEF 14A2024-12-130001558370-24-016214CEO total compensation as printed in Walgreens Boots Alliance, Inc.'s own proxy. As printed: 2,500,000. Filing ↗machine: t333 · r24 · c18 · span 2342384–2342393
87Amazon.com, Inc., Section 10b CEO totalDEF 14A2026-04-090001104659-26-041026CEO total compensation as printed in Amazon.com, Inc.'s own proxy. As printed: 2,069,861. Filing ↗machine: span 1010745–1010754
88Tesla, Inc., Section 10b CEO totalDEF 14A2025-09-170001104659-25-090866CEO total compensation as printed in Tesla, Inc.'s own proxy. As printed: 0. Filing ↗
89Section 10a, Valero Energy Corporation reciprocityDEF 14A0001628280-26-019806Valero Energy Corporation's most recent proxy was read; its disclosed peer group does not include Elevance Health. Filing ↗
90Section 10a, McKesson Corporation reciprocityDEF 14A0000927653-26-000169McKesson Corporation's most recent proxy was read; its disclosed peer group does not include Elevance Health. Filing ↗
91Section 10a, Chevron Corporation reciprocityDEF 14A0001193125-26-145617Chevron Corporation's most recent proxy was read; its disclosed peer group does not include Elevance Health. Filing ↗
92Section 10a, AT&T Inc. reciprocityDEF 14A0001193125-26-119888AT&T Inc.'s most recent proxy was read; its disclosed peer group does not include Elevance Health. Filing ↗
93Section 10a, The Home Depot, Inc. reciprocityDEF 14A0000354950-26-000090The Home Depot, Inc.'s most recent proxy was read; its disclosed peer group does not include Elevance Health. Filing ↗
94Section 10a, Lowe's Companies, Inc. reciprocityDEF 14A0000060667-26-000056Lowe's Companies, Inc.'s most recent proxy was read; its disclosed peer group does not include Elevance Health. Filing ↗
95Section 10a, Johnson & Johnson reciprocityDEF 14A0000200406-26-000063Johnson & Johnson's most recent proxy was read; its disclosed peer group does not include Elevance Health. Filing ↗
96Section 10a, The Procter & Gamble Company reciprocityDEF 14A0001193125-25-191749The Procter & Gamble Company's most recent proxy was read; its disclosed peer group does not include Elevance Health. Filing ↗
97Section 10a, Marathon Petroleum Corporation reciprocityDEF 14A0001510295-26-000023Marathon Petroleum Corporation's most recent proxy was read; its disclosed peer group does not include Elevance Health. Filing ↗
98Section 10a, Phillips 66 reciprocityDEF 14A0001534701-26-000010Phillips 66's most recent proxy was read; its disclosed peer group does not include Elevance Health. Filing ↗
99Section 10a, Amazon.com, Inc. reciprocityDEF 14A0001104659-26-041026Amazon.com, Inc.'s most recent proxy was read; its disclosed peer group does not include Elevance Health. Filing ↗
100Section 10a, Comcast Corporation reciprocityDEF 14A0001193125-26-177138Comcast Corporation's most recent proxy was read; its disclosed peer group does not include Elevance Health. Filing ↗
101Section 10a, Alphabet Inc. reciprocityDEF 14A0001308179-26-000342Alphabet Inc.'s most recent proxy was read; its disclosed peer group does not include Elevance Health. Filing ↗
102Section 10a, Morgan Stanley reciprocityDEF 14A0001140361-26-012975Morgan Stanley's most recent proxy was read; its disclosed peer group does not include Elevance Health. Filing ↗
103Section 10a, Ford Motor Company reciprocityDEF 14A0001552781-26-000164Ford Motor Company's most recent proxy was read; its disclosed peer group does not include Elevance Health. Filing ↗
104Section 10a, JPMorgan Chase & Co. reciprocityDEF 14A0000019617-26-000096JPMorgan Chase & Co.'s most recent proxy was read; its disclosed peer group does not include Elevance Health. Filing ↗
105Section 10a, Meta Platforms, Inc. reciprocityDEF 14A0001628280-26-025532Meta Platforms, Inc.'s most recent proxy was read; its disclosed peer group does not include Elevance Health. Filing ↗
106Section 10a, United Parcel Service, Inc. reciprocityDEF 14A0001628280-26-019856United Parcel Service, Inc.'s most recent proxy was read; its disclosed peer group does not include Elevance Health. Filing ↗
107Section 10a, The Walt Disney Company reciprocityDEF 14A0001744489-26-000013The Walt Disney Company's most recent proxy was read; its disclosed peer group does not include Elevance Health. Filing ↗
108Section 10a, Cardinal Health, Inc. reciprocityDEF 14A0000721371-25-000114Cardinal Health, Inc. names Elevance Health in its own disclosed peer group (read from its most recent proxy). Filing ↗
109Section 10a, Target Corporation reciprocityDEF 14A0001628280-26-027508Target Corporation names Elevance Health in its own disclosed peer group (read from its most recent proxy). Filing ↗