Form 4: E.L.F. Beauty Executive Sells Shares for Tax Obligations

Scott Milsten, an executive at e.l.f. Beauty, sold 906 shares of common stock to cover tax withholding obligations related to RSU vesting.

Summary

• Scott Milsten, Senior Vice President, General Counsel, Corporate Secretary & Chief People Officer of e.l.f. Beauty, Inc. (ELF), reported a transaction.
• On December 4, 2025, Milsten disposed of 906 shares of e.l.f. Beauty common stock at a price of $79.83 per share.
• The sale was solely to satisfy tax or other government withholding obligations in connection with the vesting of Restricted Stock Units (RSUs).
• Following the transaction, Milsten directly beneficially owns 96,500 shares of common stock, which includes 45,925 RSUs.
• Additionally, Milsten indirectly beneficially owns 22,761 shares through the Milsten/Conner Trust dated October 17, 2008.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction for tax withholding purposes, which is a neutral event and does not indicate positive or negative sentiment regarding the company's performance or prospects.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This is a routine insider transaction, common across all industries, where executives sell a portion of vested equity awards to cover tax liabilities. It does not reflect a change in strategic direction or operational performance of e.l.f. Beauty, Inc. or the broader beauty industry.

Stakeholder Impact

• Shareholders: Minimal impact as this is a routine, pre-planned sale for tax purposes and not a discretionary sale indicating a change in confidence.

Key Dates

Keywords

e.l.f. Beauty, ELF, Insider Transaction, Form 4, Stock Sale, RSU Vesting, Tax Withholding, Scott Milsten