Ulta Beauty, Inc. — Director's Dealing 2021

Mar 30, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Ulta Beauty, Inc. (ULTA)
CIK: 0001403568
Period of Report: 2021-03-25

Reporting Person: Settersten Scott M (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-25	Common Stock	A	813	—	Acquired	12567	Direct
2021-03-25	Common Stock	A	1086	—	Acquired	13653	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-25	Stock Option (right to buy)	$306.59	A	4686	Acquired	2031-03-25	Common Stock (4686)	Direct

Footnotes

F1: Represents 813 performance-based restricted share units, which were awarded on March 29, 2019 under the Amended and Restated Ulta Beauty, Inc. 2011 Incentive Award Plan. Each performance-based restricted share unit represents the right to one share of common stock, which vested based on satisfaction of certain performance goals and a time-based service vesting restriction which lapses on March 15, 2022, subject to continued employment. The Company's compensation committee certified on March 25, 2021 that the performance vesting goals were satisfied.

F2: Represents grant of 1,086 shares of restricted stock, vesting 100% on March 15, 2024.

F3: The options, representing an initial right to purchase a total of 4,686 shares, vesting in 25% annual increments beginning March 15, 2022 and each anniversary thereafter through March 15, 2025.