FIELDS MANDY J 4

What Happened
Mandy J. Fields, Senior Vice President and Chief Financial Officer of e.l.f. Beauty, sold 4,327 shares in an open-market/private sale on June 9, 2026, at $51.53 per share, generating proceeds of $222,970. The filing identifies this disposition was made solely to satisfy tax or other government withholding obligations related to the vesting of restricted stock units (RSUs).

Key Details

• Transaction date and price: 2026-06-09 — 4,327 shares sold at $51.53 each; total $222,970.
• Reason: Sale to cover tax withholding on vested RSUs (footnote F1).
• Holdings note: Filing states holdings "include 66,981 RSUs" (footnote F2); the filing does not list a complete total of shares owned after the sale.
• Filing: Form 4 filed on 2026-06-11 (appears timely).
• Role: Mandy J. Fields — Senior VP & Chief Financial Officer.
• Codes: S = sale; this transaction is a routine tax-withholding disposition, not a reported purchase.

Context
Sales to cover tax withholding on vested RSUs are common and typically do not by themselves indicate a change in an insider’s view of the company. Purchases by insiders can be more informative about confidence in future performance; this transaction reflects vesting-related tax obligations rather than an opportunistic sale.