TY 2019 ReductionExplanationStatement
Name:
LILLY ENDOWMENT INC
Explanation:
MAXIMUM BLOCKAGE ALLOWANCE WAS TAKEN ON ALL SHARES OF ELI LILLY AND COMPANY COMMON STOCK HELD BY LILLY ENDOWMENT, INC. THESE SHARES REPRESENT APPROXIMATELY 11.93% OF THE OUTSTANDING SHARES OF ELI LILLY AND COMPANY COMMON STOCK AS OF OCTOBER 21, 2019. A BLOCKAGE LETTER FROM MORGAN STANLEY DATED JANUARY 31, 2020, SUBSTANTIATES THE 10% BLOCKAGE ALLOWANCE; THIS LETTER IS ALSO ATTACHED. 13,755,788,528 - AVERAGE FAIR MARKET VALUE OF 117,825,304 SHARES OF ELI LILLY AND COMPANY STOCK AS OF JANUARY 31, 2019, AND ENDING (AFTER VARIOUS SALES FROM FEBRUARY THROUGH DECEMBER) WITH 114,560,599 SHARES AS OF DECEMBER 31, 2019 X .10 - MAXIMUM ALLOWABLE BLOCKAGE RATE ________________ 1,375,578,853 - BLOCKAGE DEDUCTION (LINE 1(E))