Modi Rajeev A. 4

What Happened

• Rajeev A. Modi, Executive Vice President, U.S. Pet Health and Global Digital Transformation at Elanco, was granted 57.976 deferred stock units (DSUs) on January 23, 2026. The award is reported at an underlying value of $24.40 per share, totaling roughly $1,415. This is an award/compensation grant (transaction code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-01-23; Filing date: 2026-01-27 (timely Form 4 filing).
• Award: 57.976 deferred stock units valued at $24.40 each; total ≈ $1,415.
• Transaction type: A = Award/Grant of derivative securities (deferred stock units).
• Shares owned after the transaction: Not specified in the disclosed excerpt.
• Footnotes: Each DSU represents the right to receive one share of common stock or the cash equivalent; DSUs settle in cash or shares following termination of employment or in a specified future year under the Executive Deferral and Stock Match Plan.
• No indication of a 10b5-1 plan, immediate sale, or tax-withholding shares in this filing.

Context

• Deferred stock units are a form of compensation that convert to stock or cash at a later date (often after leaving the company or in a designated year). They do not represent an immediate buy or sell in the open market and therefore are less of a direct sentiment signal than a purchase by an insider. This filing documents a routine compensation award rather than a trade.