=== SEC Form 4 — Statement of Changes in Beneficial Ownership ===
Document Type: 4
Period of Report: 2026-04-01
10b5-1 Pre-arranged Plan: Yes
--- Issuer ---
Name: e.l.f. Beauty, Inc. (ELF)
CIK: 0001600033
--- Reporting Owner ---
Name: AMIN TARANG
CIK: 0001513988
Role: Director, Officer (Chief Executive Officer)
--- Non-Derivative Transactions ---
[Transaction #1]
Security: Common Stock, $0.01 par value
Date: 2026-04-01 | Code: M (Exercise of derivative)
Shares: +71,000 | Price: $26.84
Total Value: $1,905,640.00
Shares Owned After: 151,296 | Ownership: D (Direct)
Footnotes:
[F1] Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 13, 2025. The sales reported herein were made solely to cover tax liabilities in connection with the exercise of stock options. The Reporting Person otherwise retained the remaining shares from the exercise.
[F2] Includes 80,255 restricted stock units.
[Transaction #2]
Security: Common Stock, $0.01 par value
Date: 2026-04-01 | Code: S (Open market sale)
Shares: -31,630 | Price: $62.44
Total Value: $1,974,945.57
Shares Owned After: 119,666 | Ownership: D (Direct)
Footnotes:
[F1] Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 13, 2025. The sales reported herein were made solely to cover tax liabilities in connection with the exercise of stock options. The Reporting Person otherwise retained the remaining shares from the exercise.
[F3] The transaction was executed in multiple trades in prices ranging from $61.75 to $62.74, 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.
[F2] Includes 80,255 restricted stock units.
[Transaction #3]
Security: Common Stock, $0.01 par value
Date: 2026-04-01 | Code: S (Open market sale)
Shares: -21,250 | Price: $62.93
Total Value: $1,337,239.12
Shares Owned After: 98,416 | Ownership: D (Direct)
Footnotes:
[F1] Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 13, 2025. The sales reported herein were made solely to cover tax liabilities in connection with the exercise of stock options. The Reporting Person otherwise retained the remaining shares from the exercise.
[F4] The transaction was executed in multiple trades in prices ranging from $62.75 to $63.53, 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.
[F2] Includes 80,255 restricted stock units.
--- Derivative Transactions ---
[Transaction #1]
Security: Stock Option (Right to Buy)
Date: 2026-04-01 | Code: M (Exercise of derivative)
Shares: -71,000 | Price: $0.00
Exercisable: N/A | Expires: 2027-02-14
Shares Owned After: 142,000 | Ownership: D (Direct)
Footnotes:
[F1] Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 13, 2025. The sales reported herein were made solely to cover tax liabilities in connection with the exercise of stock options. The Reporting Person otherwise retained the remaining shares from the exercise.
[F5] Fully vested and exercisable.
--- Holdings ---
[Holding #1]
Security: Common Stock, $0.01 par value
Ownership: I (Indirect)
[Holding #2]
Security: Common Stock, $0.01 par value
Ownership: I (Indirect)
[Holding #3]
Security: Common Stock, $0.01 par value
Ownership: I (Indirect)
[Holding #4]
Security: Common Stock, $0.01 par value
Ownership: I (Indirect)
[Holding #5]
Security: Common Stock, $0.01 par value
Ownership: I (Indirect)
[Holding #6]
Security: Common Stock, $0.01 par value
Ownership: I (Indirect)
[Holding #7]
Security: Common Stock, $0.01 par value
Ownership: I (Indirect)
--- Footnotes (Complete Index) ---
F1: Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 13, 2025. The sales reported herein were made solely to cover tax liabilities in connection with the exercise of stock options. The Reporting Person otherwise retained the remaining shares from the exercise.
F2: Includes 80,255 restricted stock units.
F3: The transaction was executed in multiple trades in prices ranging from $61.75 to $62.74, 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.
F4: The transaction was executed in multiple trades in prices ranging from $62.75 to $63.53, 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: Fully vested and exercisable.
--- Signature ---
/s/ /s/ Scott K. Milsten, Attorney-in-Fact for Tarang Amin (2026-04-02)
