Alvarez Ralph 4

What Happened
Ralph Alvarez, a member of Eli Lilly & Co.'s board of directors, was granted 13.498 shares (transaction code A) on 2026-04-20 at an effective price of $919.90 per share, a total value of approximately $12,417. This was an award of company stock units as director compensation, not an open-market purchase or sale.

Key Details

• Transaction date and terms: 2026-04-20; 13.498 shares at $919.90 per share (total ≈ $12,417).
• Filing date: Form 4 filed 2026-04-21 (reported one day after the transaction — timely).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnote F1: Alvarez elected to defer the shares in lieu of cash under the Lilly Directors' Deferral Plan; units will be settled in common stock upon his separation from service.
• Footnote F2: Alvarez disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.

Context
This was a routine director compensation award (deferred stock units), which differs from a purchase or sale and should be interpreted as compensation, not a direct trading signal. The deferral means Alvarez will receive actual shares later (upon separation), and the filing includes the standard disclaimer about beneficial ownership.