Alvarez Ralph 4

What Happened
Ralph Alvarez, a director of Eli Lilly & Co. (LLY), was credited with an award/ acquisition of 12.553 shares on 2026-03-16 at a reported price of $989.12 per share, valued at approximately $12,416. This transaction is coded as an award (A) and the shares were deferred in lieu of cash compensation as stock units under the Lilly Directors' Deferral Plan; they will be settled in shares following the reporting person's separation from service.

Key Details

• Transaction date: 2026-03-16; Form 4 filed: 2026-03-17 (filed timely, next-business-day).
• Price per share: $989.12; total reported value: $12,416.
• Transaction type/code: Award/Acquisition (A) — deferred stock units, not an open-market purchase or sale.
• Shares owned after transaction: not specified in this filing.
• Footnotes: F1 — shares were deferred as stock units under the Lilly Directors' Deferral Plan and will be settled in shares after separation from service. F2 — reporting person disclaims beneficial ownership except to the extent of his pecuniary interest.

Context
This is a routine director compensation deferral rather than a market purchase or sale. Deferred stock units are common for directors and will convert to actual shares only upon the trigger described (separation from service); such awards are administrative/compensation events and do not by themselves indicate a change in the director’s market view.