[Form 4] e.l.f. Beauty, Inc. Insider Trading Activity

Rhea-AI Filing Summary

e.l.f. Beauty, Inc. insider report: Director Lauren Cooks Levitan was granted 1,203 restricted stock units (RSUs) on 08/21/2025. Each RSU converts to one share of common stock upon vesting, and the grant is reported at no cash price. After the grant, the reporting person’s total beneficial ownership is reported as 12,710 shares, which the filing notes includes the 1,203 RSUs. The transaction is recorded as an acquisition of equity compensation rather than an open-market purchase or sale.

Positive

• Director received 1,203 RSUs, which align her economic interests with shareholders upon vesting
• Post-grant beneficial ownership of 12,710 shares increases reported insider stake and transparency

Negative

• None.

Insights

Financial Analyst

TL;DR: A routine director equity grant that modestly increases insider ownership; no immediate cash flow or open-market trade.

The 1,203 RSU award is standard compensation for a director and will convert to common shares upon vesting, creating potential future dilution when shares are issued but aligning the director's incentives with shareholders. The reported post-grant beneficial ownership of 12,710 shares provides a simple snapshot of current insider exposure. This disclosure is routine and not material to company valuation on its own.

Corporate Governance Expert

TL;DR: Governance-normal equity grant to a director; supports pay-for-performance alignment without signaling transactional concern.

Granting RSUs to a director is a common governance practice to align long-term interests. The Form 4 correctly discloses the RSU award and resulting beneficial ownership. There is no indication of an accelerated or atypical arrangement in the data provided; therefore, the filing appears to reflect routine director compensation.

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

OMB APPROVAL

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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^*

Levitan Lauren Cooks

(Last) (First) (Middle)

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

570 10TH STREET

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/21/2025

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	08/21/2025		A		1,203(1)	A	$0	12,710(2)	D

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. Grant of Restricted Stock Units ("RSUs"). The reporting person is entitled to receive one (1) share of common stock for each one (1) RSU upon the vesting thereof.

2. Includes 1,203 RSUs.

	/s/ Scott K. Milsten, Attorney-in-Fact for Lauren Cooks Levitan	08/25/2025
	** 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 transaction did Lauren Cooks Levitan report for ELF?

She reported a grant of 1,203 RSUs on 08/21/2025, each convertible to one share upon vesting.

How many shares does the reporting person beneficially own after the reported transaction?

12,710 shares are reported as beneficially owned following the RSU grant, which includes the 1,203 RSUs.

Did the Form 4 report a cash purchase or sale of ELF shares?

No. The filing reports an equity compensation grant (RSUs) with a reported price of $0, not an open-market trade.

What is the nature of the securities granted in this filing?

Restricted Stock Units (RSUs); each RSU entitles the holder to one share upon vesting.

What is the reporting person’s relationship to ELF?

Director (the filing indicates the reporting person is a company director).