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

Apr 16, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: e.l.f. Beauty, Inc. (ELF)
CIK: 0001600033
Period of Report: 2021-04-14

Reporting Person: Milsten Scott (See remarks)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-04-14	Common Stock, $0.01 par value	A	20520	—	Acquired	176993	Direct
2021-04-16	Common Stock, $0.01 par value	M	18431	$1.84	Acquired	195424	Direct
2021-04-16	Common Stock, $0.01 par value	S	18431	$29.9128	Disposed	176993	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-04-16	Stock Option (Right to Buy)	$1.84	M	18431	Disposed	2025-08-12	Common Stock (18431)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	52363	Indirect

Footnotes

F1: Represents restricted stock awards ("PSAs") initially granted on June 1, 2020 that were subject a performance-based vesting condition. The vesting condition was determined to be satisfied on April 14, 2021. The PSAs will vest fully on June 1, 2022, subject to the Reporting Person's continued service to the Issuer on such vesting date.

F2: Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person.

F3: The transaction was executed in multiple trades in prices ranging from $29.90 to $29.98, 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.

F4: Fully vested.