Scott K. Milsten - 10 Sep 2025 Form 4 Insider Report for e.l.f. Beauty, Inc. (ELF)

Signature
/s/ Scott K. Milsten
Issuer symbol
ELF
Transactions as of
10 Sep 2025
Net transactions value
-$6,291,467
Form type
4
Filing time
12 Sep 2025, 16:15:44 UTC
Previous filing
09 Jun 2025
Next filing
12 Sep 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Milsten Scott Senior Vice President, General Counsel, Corporate Secretary & Chief People Officer C/O E.L.F. BEAUTY, INC., 570 10TH STREET, OAKLAND /s/ Scott K. Milsten 12 Sep 2025 0001448992

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ELF Common Stock, $0.01 par value Options Exercise $293,777 +17,281 +15% $17.00 134,687 10 Sep 2025 Direct F1, F3
transaction ELF Common Stock, $0.01 par value Options Exercise $893,772 +33,300 +25% $26.84 167,987 10 Sep 2025 Direct F1, F3
transaction ELF Common Stock, $0.01 par value Sale $725,793 -5,476 -3.3% $132.54 162,511 10 Sep 2025 Direct F1, F2, F3
transaction ELF Common Stock, $0.01 par value Sale $1,191,539 -8,927 -5.5% $133.48 153,584 10 Sep 2025 Direct F1, F3, F4
transaction ELF Common Stock, $0.01 par value Sale $4,066,621 -30,218 -20% $134.58 123,366 10 Sep 2025 Direct F1, F3, F5
transaction ELF Common Stock, $0.01 par value Sale $914,063 -6,753 -5.5% $135.36 116,613 10 Sep 2025 Direct F1, F3, F6
transaction ELF Common Stock, $0.01 par value Sale $150,309 -1,101 -0.95% $136.52 115,112 10 Sep 2025 Direct F1, F3, F7
transaction ELF Common Stock, $0.01 par value Sale $138,788 -1,006 -0.87% $137.96 114,506 10 Sep 2025 Direct F1, F3, F8
transaction ELF Common Stock, $0.01 par value Sale $291,902 -2,100 -1.8% $139.00 112,406 10 Sep 2025 Direct F1, F3, F9
holding ELF Common Stock, $0.01 par value 22,761 10 Sep 2025 By Milsten/Conner Trust dated October 17, 2008

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ELF Stock Option (Right to Buy) (Common Stock) Options Exercise $0 -17,281 -100% $0.000000 0 10 Sep 2025 Common Stock 17,281 $17.00 Direct F1
transaction ELF Stock Option (Right to Buy) Options Exercise $0 -33,300 -69% $0.000000 15,000 10 Sep 2025 Common Stock 33,300 $26.84 Direct F1, F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 11, 2025.
F2 The transaction was executed in multiple trades in prices ranging from $131.99 to $132.92, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The reporting person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
F3 Includes 46,855 restricted stock units.
F4 The transaction was executed in multiple trades in prices ranging from $133.00 to $133.99, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The reporting person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
F5 The transaction was executed in multiple trades in prices ranging from $134.04 to $135.03, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The reporting person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
F6 The transaction was executed in multiple trades in prices ranging from $135.04 to $136.02, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The reporting person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
F7 The transaction was executed in multiple trades in prices ranging from $136.10 to $136.86, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The reporting person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
F8 The transaction was executed in multiple trades in prices ranging from $137.40 to $138.34, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The reporting person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
F9 The transaction was executed in multiple trades in prices ranging from $138.51 to $139.10, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The reporting person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
F10 The option shall vest and become exercisable in three equal tranches on the the thirtieth consecutive trading day that the per share closing trading price of the Issuer's common stock equals or exceeds certain successively higher share price targets, subject to the Reporting Person continuing to provide services to the Issuer as an employee, consultant, director or officer of the Company through the applicable vesting date.

Remarks:

Senior Vice President, General Counsel, Corporate Secretary & Chief People Officer