Alvarez Ralph 4

What Happened
Ralph Alvarez, a director of Eli Lilly & Co. (LLY), was granted 11.924 shares (deferred stock units) on January 20, 2026 at a reported per-share value of $1,041.29, for a total value of approximately $12,416. This filing reports an award/acquisition (code A), not an open-market purchase or sale.

Key Details

• Transaction date and price: 2026-01-20; 11.924 shares at $1,041.29 each (total ≈ $12,416).
• Shares owned after transaction: Not disclosed in this Form 4.
• Footnotes: (1) The shares were elected to be deferred under the Lilly Directors' Deferral Plan and will be settled in common stock following the reporting person's separation from service. (2) The reporting person disclaims beneficial ownership except to the extent of pecuniary interest.
• Filing timeliness: Reported on 2026-01-21 for a 2026-01-20 transaction — within normal Form 4 reporting windows (not flagged as late).

Context
This was an awarded/deferred equity grant (deferred stock units), not an immediate cash purchase or sale. Deferred awards under director plans are common compensation mechanisms and do not necessarily signal near-term buying or selling intent.