TY 2020 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 11.62% OF THE OUTSTANDING SHARES OF ELI LILLY AND COMPANY COMMON STOCK AS OF OCTOBER 26,2020. A BLOCKAGE LETTER FROM MORGAN STANLEY DATED FEBRUARY 4, 2021, SUBSTANTIATES THE 10% BLOCKAGE ALLOWANCE; THIS LETTER IS ALSO ATTACHED. 16,485,768,042 - AVERAGE FAIR MARKET VALUE OF 113,720,304 SHARES OF ELI LILLY AND COMPANY STOCK AS OF JANUARY 31, 2020, AND ENDING (AFTER VARIOUS SALES FROM JANUARY THROUGH JULY) WITH 111,132,343 SHARES AS OF DECEMBER 31, 2020 X .10 - MAXIMUM ALLOWABLE BLOCKAGE RATE ________________ 1,648,576,804 - BLOCKAGE DEDUCTION (LINE 1(E))