=== SEC Form 4 — Statement of Changes in Beneficial Ownership ===
Document Type: 4
Period of Report: 2026-09-08
10b5-1 Pre-arranged Plan: Yes
--- Issuer ---
Name: e.l.f. Beauty, Inc. (ELF)
CIK: 0001600033
--- Reporting Owner ---
Name: FIELDS MANDY J
CIK: 0001773316
Role: Officer (See Remarks)
--- Non-Derivative Transactions ---
[Transaction #1]
Security: Common Stock, $0.01 par value
Date: 2026-09-08 | Code: S (Open market sale)
Shares: -7,965 | Price: $103.83
Total Value: $827,018.69
Shares Owned After: 98,996 | Ownership: D (Direct)
Footnotes:
[F1] Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 9, 2026.
[F2] The transaction was executed in multiple trades in prices ranging from $103.18 to $104.16, 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 66,981 restricted stock units.
[Transaction #2]
Security: Common Stock, $0.01 par value
Date: 2026-09-08 | Code: S (Open market sale)
Shares: -4,650 | Price: $104.73
Total Value: $486,984.73
Shares Owned After: 94,346 | Ownership: D (Direct)
Footnotes:
[F1] Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 9, 2026.
[F4] The transaction was executed in multiple trades in prices ranging from $104.20 to $105.19, 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 66,981 restricted stock units.
[Transaction #3]
Security: Common Stock, $0.01 par value
Date: 2026-09-08 | Code: S (Open market sale)
Shares: -2,850 | Price: $105.65
Total Value: $301,091.96
Shares Owned After: 91,496 | Ownership: D (Direct)
Footnotes:
[F1] Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 9, 2026.
[F5] The transaction was executed in multiple trades in prices ranging from $105.20 to $106.19, 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 66,981 restricted stock units.
[Transaction #4]
Security: Common Stock, $0.01 par value
Date: 2026-09-08 | Code: S (Open market sale)
Shares: -600 | Price: $106.61
Total Value: $63,967.38
Shares Owned After: 90,896 | Ownership: D (Direct)
Footnotes:
[F1] Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 9, 2026.
[F6] The transaction was executed in multiple trades in prices ranging from $106.28 to $106.87, 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 66,981 restricted stock units.
--- Footnotes (Complete Index) ---
F1: Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 9, 2026.
F2: The transaction was executed in multiple trades in prices ranging from $103.18 to $104.16, 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 66,981 restricted stock units.
F4: The transaction was executed in multiple trades in prices ranging from $104.20 to $105.19, 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 $105.20 to $106.19, 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 $106.28 to $106.87, 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 Milsten, Attorney-in-Fact for Mandy J. Fields (2026-09-10)
