Form 4: e.l.f. Beauty Director Exercises Options, Sells Shares
Insider Trading Report
e.l.f. Beauty Director Lauren Cooks Levitan exercised stock options and subsequently sold a portion of her shares under a Rule 10b5-1 plan.
Summary
- Lauren Cooks Levitan, a Director at e.l.f. Beauty, Inc. (ELF), reported transactions involving the company's common stock.
- On November 24, 2025, Levitan exercised 2,600 stock options at an exercise price of $8.23 per share.
- Concurrently, Levitan sold 2,600 shares of common stock at a weighted average price of $71.7074 per share, with sales occurring in a price range of $71.68 to $71.76.
- Additionally, Levitan sold another 1,160 shares of common stock at a price of $71.6312 per share.
- All reported transactions were made pursuant to a Rule 10b5-1(c) plan.
- Following these transactions, Levitan beneficially owns 11,550 shares of common stock, which includes 1,203 restricted stock units.
- The number of derivative securities (stock options) beneficially owned after the transactions is 7,714.
Sentiment
Score: 5
Explanation: The filing reports routine insider transactions under a Rule 10b5-1 plan, which is generally neutral in sentiment. The director's profitable sale reflects positively on the stock's performance but is a personal financial event.
Positives
- The director realized a significant gain by exercising options at $8.23 and selling shares at over $71, indicating strong stock performance.
- The transactions were conducted under a Rule 10b5-1 plan, which suggests pre-planned, non-discretionary sales, reducing concerns about opportunistic insider trading.
Negatives
- Insider selling, even under a 10b5-1 plan, can sometimes be perceived as a lack of confidence, though in this case, it appears to be a routine exercise-and-sell transaction.
Future Outlook
This filing does not contain forward-looking statements or guidance regarding the company's future outlook.
Industry Context
This is a routine insider transaction filing (Form 4) for a director of a publicly traded company. Such filings are common and provide transparency into executive stock ownership changes, often executed under pre-arranged plans.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Insider Trading Policy Adherence | The reported transactions were 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). | 11/24/2025 | This indicates adherence to established insider trading policies and pre-planning of stock transactions, which enhances transparency and mitigates concerns about opportunistic trading. |
Related Party Transactions
- Lauren Cooks Levitan, a Director of e.l.f. Beauty, Inc., engaged in transactions involving the company's common stock, which are considered related party transactions due to her insider status.
Stakeholder Impact
- Shareholders: The transactions are routine insider sales under a pre-arranged plan, which typically has minimal direct impact on other shareholders. The director's profitable sale highlights the stock's appreciation.
Key Dates
| Date | Description |
|---|---|
| 06/23/2021 | Date stock option became exercisable |
| 11/24/2025 | Date of stock option exercise and subsequent sales |
| 11/26/2025 | Signature date of the filing |
| 08/09/2026 | Expiration date of stock option |
Keywords
e.l.f. Beauty, ELF, insider trading, Form 4, stock options, beneficial ownership, Rule 10b5-1, director, common stock, equity
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