e.l.f. Beauty, Inc. — Director's Dealing 2021

May 5, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: e.l.f. Beauty, Inc. (ELF)
CIK: 0001600033
Period of Report: 2021-05-03

Reporting Person: AMIN TARANG (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-03	Common Stock, $0.01 par value	S	56248	$29.7991	Disposed	1954596	Indirect
2021-05-03	Common Stock, $0.01 par value	S	84	$30.53	Disposed	1954512	Indirect
2021-05-03	Common Stock, $0.01 par value	S	5409	$29.7990	Disposed	379015	Indirect
2021-05-03	Common Stock, $0.01 par value	S	8	$30.53	Disposed	379007	Indirect
2021-05-03	Common Stock, $0.01 par value	S	5409	$29.7990	Disposed	379015	Indirect
2021-05-03	Common Stock, $0.01 par value	S	8	$30.53	Disposed	379007	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	511749	Direct

Footnotes

F1: Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person.

F2: The transaction was executed in multiple trades in prices ranging from $29.47 to $30.42, 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: Reflects the transfer of 33,400 shares previously held indirectly by the Reporting Person into family trusts.

F4: Reflects the transfer of 16,700 shares previously held indirectly by the Reporting Person into a family trust.