AMIN TARANG 4

What Happened

• Amin Tarang, CEO of e.l.f. Beauty (ELF), exercised 50,164 derivative shares (reported as "M") at a strike of $26.84 on July 1, 2026, paying $1,346,402. The same 50,164 shares were sold in multiple open-market trades the same day (reported as "S") for aggregate gross proceeds of approximately $3,924,854.
• The pattern — exercise followed by sales of the identical number of shares — is consistent with a cashless exercise/settlement where exercised shares were sold rather than retained. The filing also records a derivative conversion/disposition of 50,164 shares at $0.00 (reported as "Derivative"); the filing does not provide further detail on that $0.00 line.

Key Details

• Transaction date: 2026-07-01; Form 4 filed 2026-07-02 (timely).
• Exercise: 50,164 shares @ $26.84, total cost $1,346,402.
• Sales: 50,164 shares sold in multiple trades at prices ranging roughly from $72.90 to $80.36 (weighted averages reported per trade); total gross proceeds ≈ $3,924,854.
• Shares owned after transaction: not explicitly stated in the filing; footnote indicates holdings include 110,496 restricted stock units (RSUs).
• Notable footnotes: sales executed under a 10b5-1 trading plan adopted June 13, 2025 (F1); holdings shown include 110,496 RSUs (F2); sales executed in multiple trades with price ranges documented in F3–F9; options/awards were fully vested (F10).
• Transaction codes: M = exercise/conversion of derivative; S = sale. Filing does not show late filing.

Context

• This was primarily a routine option exercise with simultaneous sale of the exercised shares (cashless-style) and executed under a pre-established 10b5-1 plan. Such transactions commonly cover the option strike and tax withholding and do not, by themselves, signal management intent beyond that routine settlement.