=== SEC Form 4 — Statement of Changes in Beneficial Ownership ===
Document Type: 4
Period of Report: 2026-07-01
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: 2026-07-01 | Code: M (Exercise of derivative)
Shares: +50,164 | Price: $26.84
Total Value: $1,346,401.76
Shares Owned After: 160,660 | Ownership: D (Direct)
Footnotes:
[F1] Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 13, 2025.
[F2] Includes 110,496 restricted stock units.
[Transaction #2]
Security: Common Stock, $0.01 par value
Date: 2026-07-01 | Code: S (Open market sale)
Shares: -3,300 | Price: $73.59
Total Value: $242,854.92
Shares Owned After: 157,360 | Ownership: D (Direct)
Footnotes:
[F1] Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 13, 2025.
[F3] The transaction was executed in multiple trades in prices ranging from $72.90 to $73.89, 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 110,496 restricted stock units.
[Transaction #3]
Security: Common Stock, $0.01 par value
Date: 2026-07-01 | Code: S (Open market sale)
Shares: -800 | Price: $74.26
Total Value: $59,407.52
Shares Owned After: 156,560 | Ownership: D (Direct)
Footnotes:
[F1] Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 13, 2025.
[F4] The transaction was executed in multiple trades in prices ranging from $74.00 to $74.56, 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 110,496 restricted stock units.
[Transaction #4]
Security: Common Stock, $0.01 par value
Date: 2026-07-01 | Code: S (Open market sale)
Shares: -600 | Price: $75.61
Total Value: $45,363.00
Shares Owned After: 155,960 | Ownership: D (Direct)
Footnotes:
[F1] Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 13, 2025.
[F5] The transaction was executed in multiple trades in prices ranging from $75.11 to $76.06, 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 110,496 restricted stock units.
[Transaction #5]
Security: Common Stock, $0.01 par value
Date: 2026-07-01 | Code: S (Open market sale)
Shares: -1,100 | Price: $76.76
Total Value: $84,431.05
Shares Owned After: 154,860 | Ownership: D (Direct)
Footnotes:
[F1] Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 13, 2025.
[F6] The transaction was executed in multiple trades in prices ranging from $76.43 to $77.41, 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 110,496 restricted stock units.
[Transaction #6]
Security: Common Stock, $0.01 par value
Date: 2026-07-01 | Code: S (Open market sale)
Shares: -16,100 | Price: $78.22
Total Value: $1,259,351.66
Shares Owned After: 138,760 | Ownership: D (Direct)
Footnotes:
[F1] Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 13, 2025.
[F7] The transaction was executed in multiple trades in prices ranging from $77.54 to $78.53, 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 110,496 restricted stock units.
[Transaction #7]
Security: Common Stock, $0.01 par value
Date: 2026-07-01 | Code: S (Open market sale)
Shares: -25,964 | Price: $78.96
Total Value: $2,050,039.55
Shares Owned After: 112,796 | Ownership: D (Direct)
Footnotes:
[F1] Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 13, 2025.
[F8] The transaction was executed in multiple trades in prices ranging from $78.54 to $79.51, 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 110,496 restricted stock units.
[Transaction #8]
Security: Common Stock, $0.01 par value
Date: 2026-07-01 | Code: S (Open market sale)
Shares: -2,300 | Price: $79.74
Total Value: $183,404.76
Shares Owned After: 110,496 | Ownership: D (Direct)
Footnotes:
[F1] Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 13, 2025.
[F9] The transaction was executed in multiple trades in prices ranging from $79.54 to $80.36, 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 110,496 restricted stock units.
--- Derivative Transactions ---
[Transaction #1]
Security: Stock Option (Right to Buy)
Date: 2026-07-01 | Code: M (Exercise of derivative)
Shares: -50,164 | Price: $0.00
Exercisable: N/A | Expires: 2027-02-14
Shares Owned After: 91,836 | Ownership: D (Direct)
Footnotes:
[F1] Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 13, 2025.
[F10] Fully vested.
--- 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.
F10: Fully vested.
F2: Includes 110,496 restricted stock units.
F3: The transaction was executed in multiple trades in prices ranging from $72.90 to $73.89, 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 $74.00 to $74.56, 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 $75.11 to $76.06, 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 $76.43 to $77.41, 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 $77.54 to $78.53, 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.
F8: The transaction was executed in multiple trades in prices ranging from $78.54 to $79.51, 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 $79.54 to $80.36, 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.
--- Signature ---
/s/ /s/ Scott K. Milsten, Attorney-in-Fact for Tarang Amin (2026-07-02)
