# EDGAR Filing Document

**Accession Number:** 0001600033
**File Stem:** 0001600033-26-000023
**Filing Date:** 2026-5
**Character Count:** 31548
**Document Hash:** 52afa6fb6ab61db76e83f52459ff5f43
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001600033-26-000023.hdr.sgml**: 20260622

**ACCESSION NUMBER**: 0001600033-26-000023

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 14

**FILED AS OF DATE**: 20260521

**DATE AS OF CHANGE**: 20260521

**EFFECTIVENESS DATE**: 20260521

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** e.l.f. Beauty, Inc.
- **CENTRAL INDEX KEY:** 0001600033
- **STANDARD INDUSTRIAL CLASSIFICATION:** PERFUMES, COSMETICS & OTHER TOILET PREPARATIONS [2844]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 464464131
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-296114
- **FILM NUMBER:** 261008513

**BUSINESS ADDRESS:**
- **STREET 1:** 601 12TH STREET
- **STREET 2:** SUITE 1400
- **CITY:** OAKLAND
- **STATE:** CA
- **BUSINESS PHONE:** (510) 778-7787

**MAIL ADDRESS:**
- **STREET 1:** 601 12TH STREET
- **STREET 2:** SUITE 1400
- **CITY:** OAKLAND
- **STATE:** CA

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** J.A. Cosmetics Holdings, Inc.
- **DATE OF NAME CHANGE:** 20140212

**As filed with the Securities and Exchange Commission on May 21, 2026**

**Registration No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549** 

**_____________________________**

**FORM S-8**

**REGISTRATION STATEMENT**

**UNDER**

**THE SECURITIES ACT OF 1933**

**_____________________________**

**e.l.f. Beauty, Inc.**

(Exact name of Registrant as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **46-4464131** |
| (State or other jurisdiction of <br>incorporation or organization) | (I.R.S. Employer <br>Identification No.) |

---

**601 12**<sup>th</sup> **Street, 14**<sup>th</sup> **Floor**

**Oakland, CA 94607**

**(510) 778-7787**

(Address of Principal Executive Offices) (Zip Code)

**_____________________________**

**2016 Equity Incentive Award Plan**

**2016 Employee Stock Purchase Plan**

(Full Title of the Plan)

**_____________________________**

**Tarang P. Amin**

**Chairman and Chief Executive Officer**

**e.l.f. Beauty, Inc.**

**601 12**<sup>th</sup> **Street, 14**<sup>th</sup> **Floor**

**Oakland, CA 94607**

(Name and address of agent for service)

**(510) 778-7787**

(Telephone number, including area code, of agent for service)

**_____________________________**

**Copies to:**

**Tad J. Freese**

**Kathleen M. Wells**

**Richard Kim**

**Latham & Watkins LLP**

**140 Scott Drive**

**Menlo Park, CA 94025**

**Telephone: (650) 328-4600**

**_____________________________**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ⌧ | Accelerated filer | ◻ |
| Non-accelerated filer | ◻ | Smaller reporting company | ◻ |
| | | Emerging growth company | ◻ |
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. | ◻ |

---

------

**EXPLANATORY NOTE** 

e.l.f. Beauty, Inc. (the "Registrant") is filing this Registration Statement for the purpose of registering:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an additional 1,181,044 shares of the Registrant's Common Stock ("Common Stock") to be issued pursuant to the Registrant's 2016 Equity Incentive Award Plan, as amended (the "2016 Plan") (resulting from an automatic annual increase as of January 1, 2026 pursuant to the "evergreen" provision of the 2016 Plan); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an additional 590,522 shares of Common Stock to be issued pursuant to the Registrant's 2016 Employee Stock Purchase Plan ("ESPP") (resulting from an automatic annual increase as of January 1, 2026 pursuant to the "evergreen" provision of the ESPP).

The shares being registered pursuant to this Registration Statement are the same class as other securities for which earlier registration statements relating to the 2016 Plan and the ESPP were filed with the Securities and Exchange Commission (the "SEC") (collectively, the "Prior Registration Statements") on:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>[September 27, 2016 (File No. 333-213818)](https://www.sec.gov/Archives/edgar/data/1600033/000119312516721535/d263915ds8.htm)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>[March 15, 2017 (File No. 333-216718)](https://www.sec.gov/Archives/edgar/data/1600033/000119312517083795/d353497ds8.htm)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>[March 1](https://www.sec.gov/Archives/edgar/data/1600033/000160003318000015/s-82018evergreen.htm)[, 2018 (File No. 333-223383)](https://www.sec.gov/Archives/edgar/data/1600033/000160003318000015/s-82018evergreen.htm)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>[March 1, 2019 (File No. 333-230027)](https://www.sec.gov/Archives/edgar/data/1600033/000160003319000013/elf_s8x201903.htm)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>[June 3, 2020 (File No. 333-238909)](https://www.sec.gov/Archives/edgar/data/0001600033/000160003320000038/elf_s8x2020.htm)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>[May 28, 2021 (File No. 333-256631)](https://www.sec.gov/Archives/edgar/data/1600033/000160003321000033/elf_s8x2021.htm)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>[May 27, 2022 (File No. 333-265225)](https://www.sec.gov/Archives/edgar/data/1600033/000119312522161764/d337085ds8.htm)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>[May 26, 2023 (File No. 333-272234)](https://www.sec.gov/Archives/edgar/data/1600033/000160003323000019/elf_s8x2023.htm)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>[May 24, 2024 (File No. 333-279713)](https://www.sec.gov/Archives/edgar/data/1600033/000160003324000022/elf_s8x2024.htm)</u>; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>[May 2](https://www.sec.gov/Archives/edgar/data/1600033/000160003325000021/elf_s8x2025.htm)[9](https://www.sec.gov/Archives/edgar/data/1600033/000160003325000021/elf_s8x2025.htm)[, 202](https://www.sec.gov/Archives/edgar/data/1600033/000160003325000021/elf_s8x2025.htm)[5](https://www.sec.gov/Archives/edgar/data/1600033/000160003325000021/elf_s8x2025.htm)[(File No. 333-](https://www.sec.gov/Archives/edgar/data/1600033/000160003325000021/elf_s8x2025.htm)[287639](https://www.sec.gov/Archives/edgar/data/1600033/000160003325000021/elf_s8x2025.htm)[)](https://www.sec.gov/Archives/edgar/data/1600033/000160003325000021/elf_s8x2025.htm)</u>.

In accordance with General Instruction E of Form S-8, the contents of the Prior Registration Statements are incorporated herein by reference and made part of this Registration Statement, except as amended hereby.

**PART I**

**INFORMATION REQUIRED IN THE PROSPECTUS**

The information specified in Item 1 and Item 2 of Part I of Form S-8 is omitted from this Registration Statement in accordance with the provisions of Rule 428 under the Securities Act of 1933, as amended (the "Securities Act") and the introductory note to Part I of Form S-8. The documents containing the information specified in Part I of Form S-8 will be delivered to the participants in the equity benefit plans covered by this Registration Statement as specified by Rule 428(b)(1) under the Securities Act.

**PART II**

**Information Required in the Registration Statement**

---

| | |
|:---|:---|
| **Item 3.** | **Incorporation of Documents by Reference.** |

---

------

The following documents filed by the Registrant with the SEC are incorporated herein by reference:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)the Registrant's Annual Report on <u>[Form 10-K](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001600033/000160003326000020/elf-20260331.htm)</u> for the fiscal year ended March 31, 2026, filed with the SEC on May 20, 2026 (the "2026 Annual Report");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)the information specifically incorporated by reference into the Registrant's Annual Report on <u>[Form 10-K](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001600033/000160003325000016/elf-20250331.htm)</u> for the fiscal year ended March 31, 2025 from the Registrant's Definitive Proxy Statement on <u>[Schedule 14A](https://www.sec.gov/ix?doc=/Archives/edgar/data/1600033/000160003325000027/elf-20250709.htm)</u>, filed with the SEC on July 9, 2025; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)the description of the Registrant's Common Stock contained in the Registrant's Registration Statement on <u>[Form 8-A](https://www.sec.gov/Archives/edgar/data/1600033/000119312516707435/d256918d8a12b.htm)</u> filed on September 12, 2016 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including any amendment or report filed for the purpose of updating such description.

All documents filed by the Registrant pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the filing of this Registration Statement and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date of filing such documents, except as to specific sections of such documents as set forth therein. Unless expressly incorporated into this Registration Statement, a report furnished on Form 8-K prior or subsequent to the filing of this Registration Statement shall not be deemed incorporated by reference into this Registration Statement. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained in any subsequently filed document that also is deemed to be incorporated by reference herein modifies or supersedes such statement.

------

---

| | |
|:---|:---|
| **Item 8.** | **Exhibits.** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Exhibit**<br>**Number** | | **Filed<br>Herewith** | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** |
| **Exhibit**<br>**Number** |<br>**Exhibit Description** | **Filed<br>Herewith** | **Form** | **Date** | **Exhibit<br>Number** | **File Number** |
| 4.1 | <u>[Amended and Restated Certificate of Incorporation](https://www.sec.gov/Archives/edgar/data/1600033/000119312516721531/d253323dex31.htm)</u> |  | 8-K | 9/27/2016 | 3.1 | 001-37873 |
| 4.2 | <u>[Amendment to Amended and Restated Certificate of Incorporation](https://www.sec.gov/Archives/edgar/data/1600033/000119312524207812/d889091dex31.htm)</u> |  | 8-K | 8/27/2024 | 3.1 | 001-37873 |
| 4.3 | <u>[Amended and Restated Bylaws](https://www.sec.gov/Archives/edgar/data/1600033/000119312516721531/d253323dex32.htm)</u> |  | 8-K | 9/27/2016 | 3.2 | 001-37873 |
| 4.4 | <u>[Form of Common Stock Certificate](https://www.sec.gov/Archives/edgar/data/1600033/000119312516706859/d179389dex44.htm)</u> |  | S-1/A | 9/12/2016 | 4.4 | 333-213333 |
| 5.1 | <u>[Opinion of Legal Counsel](exhibit512026s-8.htm)</u> | X |  |  |  |  |
| 23.1 | <u>[Consent of Independent Registered Public Accounting Firm](exhibit2312026s-8.htm)</u> | X |  |  |  |  |
| 23.2 | <u>[Consent of Legal Counsel (included in Exhibit 5.1)](exhibit512026s-8.htm)</u> | X |  |  |  |  |
| 24.1 | <u>[Power of Attorney (included after the signature page of this Registration Statement)](#ibb815de4f70e422d8448940f081a1316_13)</u> | X |  |  |  |  |
| 99.1(a)# | <u>[e.l.f. Beauty, Inc. 2016 Equity Incentive Award Plan](https://www.sec.gov/Archives/edgar/data/1600033/000119312516706859/d179389dex1016.htm)</u> |  | S-1/A | 9/12/2016 | 10.16 | 333-213333 |
| 99.1(b)# | <u>[Amendment to the e.l.f. Beauty, Inc. 2016 Equity Incentive Award Plan, effective July 2, 2020](https://www.sec.gov/Archives/edgar/data/1600033/000160003320000047/exhibit102elf8k_20200702.htm)</u> |  | 8-K | 7/2/2020 | 10.2 | 001-37873 |
| 99.2# | <u>[e.l.f. Beauty, Inc. 2016 Employee Stock Purchase Plan](https://www.sec.gov/Archives/edgar/data/1600033/000119312516706859/d179389dex1018.htm)</u> |  | S-1/A | 9/12/2016 | 10.18 | 333-213333 |
| 107.1 | <u>[Filing Fee Table](exfilingfees521.htm)</u> | X |  |  |  |  |
| # &nbsp;&nbsp;&nbsp;&nbsp;Indicates management contract or compensatory plan. | # &nbsp;&nbsp;&nbsp;&nbsp;Indicates management contract or compensatory plan. | # &nbsp;&nbsp;&nbsp;&nbsp;Indicates management contract or compensatory plan. | # &nbsp;&nbsp;&nbsp;&nbsp;Indicates management contract or compensatory plan. | # &nbsp;&nbsp;&nbsp;&nbsp;Indicates management contract or compensatory plan. | # &nbsp;&nbsp;&nbsp;&nbsp;Indicates management contract or compensatory plan. | # &nbsp;&nbsp;&nbsp;&nbsp;Indicates management contract or compensatory plan. |

---

------

**SIGNATURES** 

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Oakland, State of California, on May 21, 2026.

---

| | |
|:---|:---|
| **e.l.f. Beauty, Inc.** | **e.l.f. Beauty, Inc.** |
| By: | /s/ Tarang P. Amin |
| Name: | Tarang P. Amin |
| Title: | Chairman and Chief Executive Officer |

---

------

**POWER OF ATTORNEY** 

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Tarang P. Amin, Mandy Fields, and Scott K. Milsten, and each of them acting individually, as his or her true and lawful attorneys-in-fact and agents, each with full power of substitution, for him or her in any and all capacities, to sign any and all amendments to this Registration Statement, including post-effective amendments or any abbreviated registration statement and any amendments thereto filed pursuant to Rule 462(b) increasing the number of securities for which registration is sought, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, with full power of each to act alone, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully for all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or his, her, or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement or amendment thereto has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Tarang P. Amin | Chief Executive Officer, Chairman, and Director<br>(Principal Executive Officer) | May 21, 2026 |
| Tarang P. Amin | Chief Executive Officer, Chairman, and Director<br>(Principal Executive Officer) | May 21, 2026 |
| /s/ Mandy Fields | Senior Vice President and Chief Financial Officer<br>(Principal Financial and Accounting Officer) | May 21, 2026 |
| Mandy Fields | Senior Vice President and Chief Financial Officer<br>(Principal Financial and Accounting Officer) | May 21, 2026 |
| /s/ Charles Bergh | Director | May 21, 2026 |
| Charles Bergh | Director | May 21, 2026 |
| /s/ Tiffany Daniele | Director | May 21, 2026 |
| Tiffany Daniele | Director | May 21, 2026 |
| /s/ Matthew Farrell | Director | May 21, 2026 |
| Matthew Farrell | Director | May 21, 2026 |
| /s/ Maria Ferreras | Director | May 21, 2026 |
| Maria Ferreras | Director | May 21, 2026 |
| /s/ Lori Keith | Director | May 21, 2026 |
| Lori Keith | Director | May 21, 2026 |
| /s/ Lauren Cooks Levitan | Director | May 21, 2026 |
| Lauren Cooks Levitan | Director | May 21, 2026 |
| /s/ Kenny Mitchell | Director | May 21, 2026 |
| Kenny Mitchell | Director | May 21, 2026 |
| /s/ Gayle Tait | Director | May 21, 2026 |
| Gayle Tait | Director | May 21, 2026 |
| /s/ Maureen Watson | Director | May 21, 2026 |
| Maureen Watson | Director | May 21, 2026 |

---

## Exhibit 5.1

**Exhibit 5.1**

---

| | | |
|:---|:---|:---|
| | 140 Scott Drive | 140 Scott Drive |
| | Menlo Park, California 94025 | Menlo Park, California 94025 |
| | Tel: +1.650.328.4600 Fax: +1.650.463.2600 | Tel: +1.650.328.4600 Fax: +1.650.463.2600 |
| | www.lw.com | |
| ![picture1a.jpg](picture1a.jpg) | FIRM / AFFILIATE OFFICES | FIRM / AFFILIATE OFFICES |
| ![picture1a.jpg](picture1a.jpg) | Austin | Milan |
|  | Beijing | Munich |
|  | Boston | New York |
|  | Brussels | Orange County |
| May 21, 2026 | Chicago | Paris |
| May 21, 2026 | Dubai | Riyadh |
|  | Düsseldorf | San Diego |
| e.l.f. Beauty, Inc.<br>601 12th Street, 14th Floor<br>Oakland, CA 94607 | Frankfurt | San Francisco |
| e.l.f. Beauty, Inc.<br>601 12th Street, 14th Floor<br>Oakland, CA 94607 | Hamburg | Seoul |
| e.l.f. Beauty, Inc.<br>601 12th Street, 14th Floor<br>Oakland, CA 94607 | Hong Kong | Silicon Valley |
| e.l.f. Beauty, Inc.<br>601 12th Street, 14th Floor<br>Oakland, CA 94607 | Houston | Singapore |
|  | London | Tel Aviv |
|  | Los Angeles | Tokyo |
|  | Madrid | Washington, D.C. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Re: Registration Statement on Form S-8; 1,771,566 shares of common stock of e.l.f Beauty, Inc., par value $0.01 per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Re: Registration Statement on Form S-8; 1,771,566 shares of common stock of e.l.f Beauty, Inc., par value $0.01 per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Re: Registration Statement on Form S-8; 1,771,566 shares of common stock of e.l.f Beauty, Inc., par value $0.01 per share |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Re: Registration Statement on Form S-8; 1,771,566 shares of common stock of e.l.f Beauty, Inc., par value $0.01 per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Re: Registration Statement on Form S-8; 1,771,566 shares of common stock of e.l.f Beauty, Inc., par value $0.01 per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Re: Registration Statement on Form S-8; 1,771,566 shares of common stock of e.l.f Beauty, Inc., par value $0.01 per share |

---

To the addressee set forth above:

We have acted as special counsel to e.l.f. Beauty, Inc., a Delaware corporation (the "***Company***"), in connection with the registration by the Company of an aggregate of 1,771,566 shares of common stock of the Company, par value $0.01 per share (the "***Common Stock***"), consisting of 1,181,044 shares of Common Stock (the "***2016 Plan Shares***") issuable under the Company's 2016 Equity Incentive Award Plan, as amended (the "***2016 Plan***"), and 590,522 shares of Common Stock (together with the 2016 Plan Shares, the "***Shares***") issuable under the Company's 2016 Employee Stock Purchase Plan (together with the 2016 Plan, the "***Plans***"). The Shares are included in a registration statement on Form S-8 under the Securities Act of 1933, as amended (the "***Act***"), filed with the Securities and Exchange Commission (the "***Commission***") on May 21, 2026 (the "***Registration Statement***"). This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or the related prospectuses, other than as expressly stated herein with respect to the issuance of the Shares.

As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter. With your consent, we have relied upon certificates and other assurances of officers of the Company and others as to factual matters without having independently verified such factual matters. We are opining herein as to the General Corporation Law of the State of Delaware (the "DGCL"), and we express no opinion with respect to any other laws.

Subject to the foregoing and the other matters set forth herein, it is our opinion that, as of the date hereof, when the Shares shall have been duly registered on the books of the transfer agent and registrar therefor in the name or on behalf of the purchasers and have been issued by the

------

**May 21, 2026**

**Page 2**

![picture1a.jpg](picture1a.jpg)

Company against payment therefor (not less than par value) in the circumstances contemplated by the Plans, assuming in each case that the individual issuances, grants or awards under the Plans are duly authorized by all necessary corporate action and duly issued, granted or awarded and exercised in accordance with the requirements of law and the Plans (and the agreements and awards duly adopted thereunder and in accordance therewith), the issuance and sale of the Shares will have been duly authorized by all necessary corporate action of the Company, and the Shares will be validly issued, fully paid and nonassessable. In rendering the foregoing opinion, we have assumed that the Company will comply with all applicable notice requirements regarding uncertificated shares provided in the DGCL.

This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act. We consent to your filing this opinion as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder.

Sincerely,

/s/ Latham & Watkins LLP

## Exhibit 23.1

**Exhibit 23.1**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We consent to the incorporation by reference in this Registration Statement on Form S-8 of our reports dated May 20, 2026 relating to the financial statements of e.l.f. Beauty, Inc. and the effectiveness of e.l.f. Beauty, Inc.'s internal control over financial reporting, appearing in the Annual Report on Form 10-K of e.l.f. Beauty, Inc. for the fiscal year ended March 31, 2026.

/s/ DELOITTE & TOUCHE LLP

San Francisco, CA

May 21, 2026

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

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| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **S-8**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **e.l.f. Beauty, Inc.**  |

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| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Class Title**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Calculation Rule**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount Registered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Proposed Maximum Offering Price Per Unit**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maximum Aggregate Offering Price**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Rate**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Registration Fee**  |
| 1 | Equity | Common stock, $0.01 par value per share | Other | 1181044 | $54.95 | $64898367.80 | 0.0001381 | $8962.46 |
| 2 | Equity | Common stock, $0.01 par value per share | Other | 590522 | $46.71 | $27583282.62 | 0.0001381 | $3809.25 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $92481650.42  |  | $12771.71  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $12771.71  |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offering Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> Pursuant to Rule 416 of the Securities Act of 1933, as amended (the Securities Act), this Registration Statement shall also cover any additional shares of the Registrants Common Stock (Common Stock) that become issuable under the Registrants 2016 Equity Incentive Award Plan, as amended (the 2016 Plan), by reason of any stock dividend, stock split or similar transaction effected without the receipt of consideration that results in an increase in the number of the outstanding shares of Common Stock. Note 1a: The Amount Registered represents shares of Common Stock that were automatically added to the shares authorized for issuance under the 2016 Plan on January 1, 2026 pursuant to an evergreen provision contained in the 2016 Plan. Pursuant to such provision, the number of shares of Common Stock reserved for issuance pursuant to awards under the 2016 Plan shall be increased on the first day of each calendar year ending in 2026, equal to the lesser of (i) 2% of the shares of Common Stock outstanding on the last day of the immediately preceding calendar year and (ii) such smaller number of shares of Common Stock as determined by the Registrants Board of Directors; provided, that no more than 22,627,878 shares of Common Stock may be issued upon the exercise of incentive stock options under the 2016 Plan. Note 1b: The Proposed Maximum Offering Price Per Unit was estimated in accordance with Rules 457(c) and 457(h) under the Securities Act solely for the purpose of calculating the registration fee on the basis of $54.95 per share, which is the average of the high and low prices of Common Stock on May 14, 2026, as reported on the New York Stock Exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>2</sup> Pursuant to Rule 416 of the Securities Act, this Registration Statement shall also cover any additional shares of Common Stock that become issuable under the Registrants 2016 Employee Stock Purchase Plan (ESPP) by reason of any stock dividend, stock split or similar transaction effected without the receipt of consideration that results in an increase in the number of the outstanding shares of Common Stock. Note 2a: The Amount Registered represents shares of Common Stock that were automatically added to the shares authorized for issuance under the ESPP on January 1, 2026 pursuant to an evergreen provision contained in the ESPP. Pursuant to such provision, the number of shares of Common Stock reserved for issuance under the ESPP shall be increased on the first day of each calendar year ending in 2026, equal to the lesser of (i) 1% of the shares of Common Stock outstanding on the last day of the immediately preceding calendar year and (ii) such smaller number of shares of Common Stock as determined by the Registrants Board of Directors; provided, that no more than 6,788,363 shares of Common Stock may be issued under the ESPP, subject to certain adjustments. Note 2b: The Proposed Maximum Offering Price Per Unit was estimated in accordance with Rules 457(c) and 457(h) under the Securities Act solely for the purpose of calculating the registration fee on the basis of $54.95 per share, which is the average of the high and low prices of Common Stock on May 14, 2026, as reported on the New York Stock Exchange, multiplied by 85%. Pursuant to the ESPP, the purchase price of the shares of Common Stock reserved for issuance thereunder will be at least 85% of the lower of the fair market value of a share of Common Stock on the applicable Enrollment Date or Purchase Date (as defined in the ESPP).

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| **Rule 457(p)** |
| Fee Offset Claims |
| Fee Offset Sources |

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