Form 4: e.l.f. Beauty Senior VP Sells Shares to Cover Tax Obligations from RSU Vesting

Scott Milsten, Senior Vice President, General Counsel, Corporate Secretary & Chief People Officer at e.l.f. Beauty, Inc., sold 1,442 shares of common stock for $114.78 per share to satisfy tax withholding obligations related to the vesting of Restricted Stock Units (RSUs).

Summary

• Scott Milsten, a Senior Vice President and General Counsel at e.l.f. Beauty, Inc. (ELF), reported a transaction on June 5, 2025.
• The transaction involved the sale of 1,442 shares of e.l.f. Beauty common stock.
• The shares were sold at a price of $114.78 per share.
• The purpose of the sale was solely to satisfy tax or other government withholding obligations in connection with the vesting of Restricted Stock Units (RSUs).
• Following this transaction, Scott Milsten directly beneficially owns 117,394 shares of common stock, which includes 46,855 RSUs.
• Additionally, 22,761 shares are indirectly beneficially owned through the Milsten/Conner Trust dated October 17, 2008.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While it's a sale of shares, it's explicitly for tax purposes related to RSU vesting, which is a routine and expected part of executive compensation, not a discretionary sale indicating a lack of confidence.

Positives

• The sale was not a discretionary sale but rather a mandatory transaction to cover tax liabilities arising from the vesting of Restricted Stock Units (RSUs), indicating a routine compensation event for the executive.

Negatives

• The transaction resulted in a reduction of direct insider ownership by 1,442 shares, although this is a common occurrence for tax purposes related to RSU vesting.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Management Comments

• The shares were sold solely to satisfy tax or other government withholding obligations in connection with the vesting of shares subject to Restricted Stock Units ('RSUs') of the Issuer.

Industry Context

This filing is a routine insider transaction report and does not provide information relevant to broader industry trends or competitive dynamics within the beauty or consumer goods sector.

Stakeholder Impact

• Shareholders: The transaction represents a minor reduction in direct insider ownership, but it is a common and expected event related to executive compensation and tax obligations, unlikely to significantly impact shareholder perception or value.
• Employees: The vesting of RSUs and subsequent tax-related sales are standard components of executive compensation, reflecting the company's established incentive structures.

Key Dates

Keywords

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