e.l.f. Beauty Insider Sale: Milsten Disposes 15,000 Shares Under 10b5-1 Plan
Rhea-AI Filing Summary
Scott Milsten, a senior executive of e.l.f. Beauty, Inc. (ELF), reported the sale of 15,000 shares of the company’s common stock under a pre-established 10b5-1 trading plan adopted June 11, 2025. The shares were sold on 09/17/2025 in multiple trades at prices ranging from $150.00 to $150.77, with a weighted average sale price of $150.2285. After the sale the reporting person beneficially owned 97,406 shares directly, plus an additional 22,761 shares held indirectly by the Milsten/Conner Trust dated October 17, 2008, which includes 46,855 restricted stock units.
The Form 4 identifies Milsten’s roles as Senior Vice President, General Counsel, Corporate Secretary & Chief People Officer and confirms the transaction was executed pursuant to the specified 10b5-1 plan. No derivative securities were reported.
Positive
- None.
Negative
- None.
Insights
TL;DR: Officer sold 15,000 shares under a documented 10b5-1 plan; holding remains substantial and includes RSUs.
The sale of 15,000 shares at a weighted average price of $150.2285 was executed under a 10b5-1 trading plan, which reduces the likelihood that the disposal was based on nonpublic information. The reporting person retains direct beneficial ownership of 97,406 shares and indirect ownership of 22,761 shares via a trust, and the indirect holdings include 46,855 restricted stock units. For investors, this disclosure documents routine liquidity by an insider while showing continued significant alignment with equity through remaining direct and indirect holdings.
TL;DR: Transaction appears procedural and compliant; officer retains meaningful equity exposure including RSUs.
The Form 4 discloses a sale pursuant to an established 10b5-1 plan adopted June 11, 2025, and explicitly provides a price range and weighted average. The filing also clarifies the reporting person’s corporate roles and the existence of indirect holdings via a trust. From a governance perspective, the presence of a documented trading plan and continued significant ownership (direct plus indirect) are indicators of procedural compliance and ongoing executive stake in the company.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock, $0.01 par value | 15,000 | $150.2285 | $2.25M |
| holding | Common Stock, $0.01 par value | -- | -- | -- |
Footnotes (1)
- Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on June 11, 2025. The transaction was executed in multiple trades in prices ranging from $150.00 to $150.77, 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. Includes 46,855 restricted stock units.
