Market for the Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities
−Removed: Information relating to the principal market for our common stock, dividends, and related stockholder matters is described in Item 7, "Management's Discussion and Analysis of Results of Operations and Financial Condition" and Item 12, "Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters." This information is incorporated herein by reference.
−Removed: As of February 14, 2025, there were approximately 17,903 holders of record of our common stock based on information provided by EQ Shareowner Services, our transfer agent.
Our common stock is listed under the ticker symbol LLY on the New York Stock Exchange (NYSE).
+Added: As of February 9, 2026 , there were approximately 16,886 holders of record of our common stock based on information provided by EQ Shareowner Services, our transfer agent.
+Added: Information relating to our dividends and related stockholder matters is described in Item 7, "Management's Discussion and Analysis of Results of Operations and Financial Condition" and Item 12, "Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters." This information is incorporated herein by reference.
The following table summarizes the activity related to repurchases of our equity securities during the three months ended December 31, 2025:
15 unchanged sentences
Total 1,479 1,001.60 1,479
−Removed: During the three months ended December 31, 2024, we repurchased the remaining $1.98 billion of shares under our $5.00 billion share repurchase program that our board authorized in May 2021.
−Removed: Our board authorized a $15.00 billion share repurchase program in December 2024.
−Removed: No shares were repurchased under this new program as of December 31, 2024.
+Added: During the three months ended December 31, 2025, we repurchased $1.5 billion of shares under our $15.0 billion share repurchase program that our board authorized in December 2024.
PERFORMANCE GRAPH
−Removed: The following graph compares the return on Lilly stock with that of the Standard & Poor's (S&P) 500 Stock Index and our peer group for the years 2020 through 2024.
−Removed: The graph assumes that, on the last business day of 2019, a person invested $100 each in Lilly stock, the S&P 500 Stock Index, and the peer group's collective common stock.
+Added: The following graph compares the return on Lilly stock with that of the Standard & Poor's (S&P) 500 Stock Index and our peer groups for the years 2021 through 2025.
+Added: The graph assumes that, on the last business day of 2020, a person invested $100 each in Lilly stock, the S&P 500 Stock Index, and each of the peer groups' collective common stock.
The graph measures total shareholder return, which takes into account both stock price and dividends.
It assumes that dividends paid by a company are immediately reinvested in that company's stock.
−Removed: Value of $100 Invested on Last Business Day of 2019 Comparison of Five-Year Cumulative Total Shareholder Return Among Lilly, S&P 500 Stock Index, and Peer Group (1)
−Removed: Lilly Peer Group S&P 500
−Removed: Dec-19 $ 100.00 $ 100.00 $ 100.00
−Removed: Dec-20 131.06 102.07 118.40
−Removed: Dec-21 217.66 121.90 152.39
−Removed: Dec-22 292.18 133.61 124.79
−Removed: Dec-23 470.13 132.57 157.59
−Removed: Dec-24 626.69 132.19 197.02
−Removed: (1) We constructed the peer group as the industry index for this graph.
−Removed: It is comprised of the following companies in the pharmaceutical and biotechnology industries:
+Added: Comparison of Five-Year Cumulative Total Shareholder Return
+Added: 2020 2021 2022 2023 2024 2025
+Added: Lilly $ 100.00 $ 166.08 $ 222.94 $ 358.72 $ 478.17 $ 670.56
+Added: Current Peer Group (1)
+Added: 100.00 116.73 124.87 118.45 123.43 154.11
+Added: Prior Peer Group (2)
+Added: 100.00 120.85 134.50 132.73 134.53 157.61
+Added: S&P 500 100.00 128.71 105.40 133.10 166.40 196.16
+Added: (1) In 2025, we revised the peer group used as the industry index for this graph to align with the peer group used for executive compensation purposes for 2025.
+Added: The 2025 peer group is comprised of the following companies in the pharmaceutical and biotechnology industries:
AstraZeneca PLC;
3 unchanged sentences
Johnson & Johnson;
+Added: Medtronic plc;
Merck & Co., Inc.;
+Added: Roche Holding AG;
+Added: and Stryker Corporation.
+Added: (2) Prior to 2025, the peer group we used as the industry index for this graph was comprised of the following companies in the pharmaceutical and biotechnology industries:
+Added: AstraZeneca PLC;
+Added: Bristol-Myers Squibb Company;
+Added: Gilead Sciences Inc.;
+Added: GlaxoSmithKline plc;
+Added: Johnson & Johnson;
+Added: Merck & Co., Inc.;
Novo Nordisk A/S;
1 unchanged sentence
and Takeda Pharmaceutical Company Limited.
−Removed: The peer group used for performance benchmarking aligns with the peer group used for executive compensation purposes for 2024.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.