ELF CEO reports zero-price stock transfers for estate planning

Rhea-AI Filing Summary

e.l.f. Beauty, Inc. Chief Executive Officer and director Tarang Amin reported multiple internal transfers of company common stock on November 24, 2025. Each reported transaction involved 20,326 shares of common stock at a price of $0 and is coded as a "G" transaction, which the footnotes describe as a transfer for estate planning purposes.

The filing shows shares moved among Amin’s direct holdings, his spouse, and various 2025 grantor retained annuity trusts and family entities, changing how the holdings are structured but not indicating a market sale. One reported direct holding line includes 81,818 restricted stock units as part of his beneficial ownership.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

AMIN TARANG

(Last) (First) (Middle)

C/O E.L.F. BEAUTY, INC.

601 12TH STREET, SUITE 1400

(Street)

OAKLAND CA 94607

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
e.l.f. Beauty, Inc. [ ELF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/24/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $0.01 par value	11/24/2025		G(1)		20,326	D	$0	102,144(2)	D
Common Stock, $0.01 par value	11/24/2025		G		20,326	A	$0	20,326	I	The Tarang Amin 2025 GRAT
Common Stock, $0.01 par value	11/24/2025		G(1)		20,326	D	$0	81,818(2)	D
Common Stock, $0.01 par value	11/24/2025		G		20,326	A	$0	20,326	I	Spouse
Common Stock, $0.01 par value	11/24/2025		G(1)		20,326	D	$0	0	I	Spouse
Common Stock, $0.01 par value	11/24/2025		G		20,326	A	$0	20,326	I	The Hirni Amin 2025 GRAT
Common Stock, $0.01 par value								246,822	I	By Family Trust
Common Stock, $0.01 par value								246,822	I	By Family Trust
Common Stock, $0.01 par value								468,532	I	By Amin Family General Partnership
Common Stock, $0.01 par value								40,295	I	By 2025 Family Trust I
Common Stock, $0.01 par value								40,295	I	By 2025 Family Trust II

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents a transfer for estate planning purposes.

2. Includes 81,818 restricted stock units.

	/s/ Scott K. Milsten, Attorney-in-Fact for Tarang Amin	11/26/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did e.l.f. Beauty (ELF) disclose in this Form 4 filing?

The filing reports that Tarang Amin, Chief Executive Officer and director of e.l.f. Beauty, Inc., executed multiple internal stock transfers on November 24, 2025. Each transaction involved 20,326 shares of common stock at $0 per share, coded as gifts or similar transfers.

How many e.l.f. Beauty (ELF) shares were moved in each reported transaction?

Each reported transaction in the table shows 20,326 shares of e.l.f. Beauty common stock being transferred at a price of $0 per share on November 24, 2025.

What is the reason given for Tarang Amin’s share transfers in ELF?

The explanatory footnote states that the reported movements of common stock "represent a transfer for estate planning purposes", indicating a reorganization of holdings among personal, spousal, GRAT, and family entities.

Did Tarang Amin sell e.l.f. Beauty (ELF) shares for cash in this Form 4?

No cash sales are reported. Each transaction lists a price of $0 and is coded as a "G" transaction, which in this case is described as a transfer for estate planning purposes rather than an open-market sale.

What role do family trusts and GRATs play in this ELF Form 4?

The table shows Amin’s e.l.f. Beauty common stock being held not only directly but also indirectly through entities such as The Tarang Amin 2025 GRAT, The Hirni Amin 2025 GRAT, a Family Trust, and other family-related vehicles, reflecting an estate planning structure.

How many restricted stock units are included in Tarang Amin’s ELF holdings?

A footnote states that one line of Amin’s beneficial ownership figure includes 81,818 restricted stock units, which are part of his direct interest in e.l.f. Beauty common stock.