# EDGAR Filing Document

**Accession Number:** 0001415726
**File Stem:** 0001213900-26-050530
**Filing Date:** 2026-5
**Character Count:** 10283
**Document Hash:** 45dcf8878349352de0f771603defb7ea
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-050530.hdr.sgml**: 20260501

**ACCESSION NUMBER**: 0001213900-26-050530

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260501

**DATE AS OF CHANGE**: 20260430

**EFFECTIVENESS DATE**: 20260501

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Innovator ETFs Trust
- **CENTRAL INDEX KEY:** 0001415726

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-146827
- **FILM NUMBER:** 26928195

**BUSINESS ADDRESS:**
- **STREET 1:** 200 W. FRONT STREET
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187
- **BUSINESS PHONE:** 800-621-1675

**MAIL ADDRESS:**
- **STREET 1:** 200 W. FRONT STREET
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INNOVATOR ETFS TRUST
- **DATE OF NAME CHANGE:** 20170825

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Academy Funds Trust
- **DATE OF NAME CHANGE:** 20071019

## Series and Classes Contracts Data

### Innovator U.S. Equity Ultra Buffer ETF - May (Series ID: S000068502)

---

|  |  |
|:---|:---|
| Class Name                                   | Class ID   |
| Innovator U.S. Equity Ultra Buffer ETF - May | C000219060 |

---

### Innovator U.S. Equity Power Buffer ETF - May (Series ID: S000068503)

---

|  |  |
|:---|:---|
| Class Name                                   | Class ID   |
| Innovator U.S. Equity Power Buffer ETF - May | C000219061 |

---

### Innovator U.S. Equity Buffer ETF - May (Series ID: S000068504)

---

|  |  |
|:---|:---|
| Class Name                             | Class ID   |
| Innovator U.S. Equity Buffer ETF - May | C000219062 |

---

### Innovator International Developed Power Buffer ETF - May (Series ID: S000081715)

---

|  |  |
|:---|:---|
| Class Name                                               | Class ID   |
| Innovator International Developed Power Buffer ETF - May | C000244693 |

---

### Innovator Growth-100 Power Buffer ETF - May (Series ID: S000085964)

---

|  |  |
|:---|:---|
| Class Name                                  | Class ID   |
| Innovator Growth-100 Power Buffer ETF - May | C000251364 |

---

### Innovator U.S. Small Cap Power Buffer ETF - May (Series ID: S000085984)

---

|  |  |
|:---|:---|
| Class Name                                      | Class ID   |
| Innovator U.S. Small Cap Power Buffer ETF - May | C000251384 |

---

### Innovator Equity Defined Protection ETF - 1 Yr May (Series ID: S000088160)

---

|  |  |
|:---|:---|
| Class Name                                         | Class ID   |
| Innovator Equity Defined Protection ETF - 1 Yr May | C000254214 |

---

## Series and Classes Contracts Data

### Innovator U.S. Equity Ultra Buffer ETF - May (Series ID: S000068502)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000219060 | Innovator U.S. Equity Ultra Buffer ETF - May |  |

### Innovator U.S. Equity Power Buffer ETF - May (Series ID: S000068503)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000219061 | Innovator U.S. Equity Power Buffer ETF - May |  |

### Innovator U.S. Equity Buffer ETF - May (Series ID: S000068504)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000219062 | Innovator U.S. Equity Buffer ETF - May |  |

### Innovator International Developed Power Buffer ETF - May (Series ID: S000081715)

| Class ID   | Class Name                                               | Ticker Symbol   |
|:---|:---|:---|
| C000244693 | Innovator International Developed Power Buffer ETF - May |  |

### Innovator Growth-100 Power Buffer ETF - May (Series ID: S000085964)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000251364 | Innovator Growth-100 Power Buffer ETF - May |  |

### Innovator U.S. Small Cap Power Buffer ETF - May (Series ID: S000085984)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000251384 | Innovator U.S. Small Cap Power Buffer ETF - May |  |

### Innovator Equity Defined Protection ETF - 1 Yr May (Series ID: S000088160)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000254214 | Innovator Equity Defined Protection ETF - 1 Yr May |  |

Rule 497(e)

File No. 333-146827

Innovator ETFs<sup>®</sup> Trust

(the "*Trust*")

Innovator Equity Defined Protection ETF<sup>®</sup> – 1 Yr May

Innovator Growth-100 Power Buffer ETFÔ – May

Innovator International Developed Power Buffer ETFÔ – May

Innovator U.S. Equity Buffer ETFÔ – May

Innovator U.S. Equity Power Buffer ETFÔ – May

Innovator U.S. Equity Ultra Buffer ETFÔ – May

Innovator U.S. Small Cap Power Buffer ETFÔ – May

(each, a *"Fund"* and together, the *"Funds"*)

Supplement to Each Fund's Prospectus

Dated February 27, 2026<br>

May 1, 2026

As described in detail in each Fund's prospectus, an investment in shares of each Fund is subject to an upside return cap (the *"Cap"*) that represents the maximum percentage return an investor can achieve from an investment in such Fund for the Outcome Period of approximately one year. The prior Outcome Period ended on April 30, 2026. Each Fund has commenced a new Outcome Period that began on May 1, 2026 and will end on April 30, 2027. An investment in each Fund over the course of the Outcome Period will be subject to such Fund's Cap as set forth in the table below.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Fund** | &nbsp;&nbsp;**Ticker** | &nbsp;&nbsp;**Cap** | &nbsp;&nbsp;**Investment Objective** |
| &nbsp;&nbsp; Innovator Equity Defined Protection ETF<sup>®</sup> – 1 Yr May<br>| &nbsp;&nbsp;ZMAY | &nbsp;&nbsp;Gross: 7.31%<br> Net: 6.52%\* | &nbsp;&nbsp;The Fund seeks to provide investors with returns that match the return of the Underlying ETF, up to the upside cap of 7.31% (prior to taking into account management fees and other fees) while providing a buffer against 100% of Underlying ETF losses (prior to taking into account management fees and other fees), over the period from May 1, 2026 to April 30, 2027. |
| &nbsp;&nbsp;Innovator Growth-100 Power Buffer ETFÔ – May | &nbsp;&nbsp;NMAY | &nbsp;&nbsp;Gross: 16.22%<br> Net: 15.43%\* | &nbsp;&nbsp;The Fund seeks to provide investors with returns that match the return of the Underlying ETF, up to the upside cap of 16.22% (prior to taking into account management fees and other fees) while providing a buffer against the first 15% (prior to taking into account management fees and other fees) of Underlying ETF losses, over the period from May 1, 2026 to April 30, 2027. |
| &nbsp;&nbsp;Innovator International Developed Power Buffer ETFÔ – May | &nbsp;&nbsp;IMAY | &nbsp;&nbsp;Gross: 15.94%<br> Net: 15.09%\* | &nbsp;&nbsp;The Fund seeks to provide investors with returns that match the return of the Underlying ETF, up to the upside cap of 15.94% (prior to taking into account management fees and other fees) while providing a buffer against the first 15% (prior to taking into account management fees and other fees) of Underlying ETF losses, over the period from May 1, 2026 to April 30, 2027. |
| &nbsp;&nbsp;Innovator U.S. Equity Buffer ETF™ – May | &nbsp;&nbsp;BMAY | &nbsp;&nbsp;Gross: 16.93%<br> Net: 16.14%\* | &nbsp;&nbsp;The Fund seeks to provide investors with returns that match the return of the Underlying ETF, up to the upside cap of 16.93% (prior to taking into account management fees and other fees) while providing a buffer against the first 9% (prior to taking into account management fees and other fees) of Underlying ETF losses, over the period from May 1, 2026 to April 30, 2027. |
| &nbsp;&nbsp;Innovator U.S. Equity Power Buffer ETF™ – May | &nbsp;&nbsp;PMAY | &nbsp;&nbsp;Gross: 13.00%<br> Net: 12.21%\* | &nbsp;&nbsp;The Fund seeks to provide investors with returns that match the return of the Underlying ETF, up to the upside cap of 13.00% (prior to taking into account management fees and other fees) while providing a buffer against the first 15% (prior to taking into account management fees and other fees) of Underlying ETF losses, over the period from May 1, 2026 to April 30, 2027. |
| &nbsp;&nbsp;Innovator U.S. Equity Ultra Buffer ETF™ – May | &nbsp;&nbsp;UMAY | &nbsp;&nbsp;Gross: 12.54%<br> Net: 11.75%\* | &nbsp;&nbsp;The Fund seeks to provide investors with returns that match the return of the Underlying ETF, up to the upside cap of 12.54% (prior to taking into account management fees and other fees) while providing a buffer against Underlying ETF losses of between 5% and 35% (prior to taking into account management fees and other fees), over the period from May 1, 2026 to April 30, 2027. |
| &nbsp;&nbsp;Innovator U.S. Small Cap Power Buffer ETFÔ – May | &nbsp;&nbsp;KMAY | &nbsp;&nbsp;Gross: 18.45%<br> Net: 17.66%\* | &nbsp;&nbsp;The Fund seeks to provide investors with returns that match the return of the Underlying ETF, up to the upside cap of 18.45% (prior to taking into account management fees and other fees) while providing a buffer against the first 15% (prior to taking into account management fees and other fees) of Underlying ETF losses, over the period from May 1, 2026 to April 30, 2027. |

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\* Takes into account the Fund's unitary management fee.

In connection with onset of the new Outcome Period, each Fund's prospectus is amended as set forth below:

&nbsp;&nbsp;&nbsp;&nbsp;1. Each Fund's investment objective is deleted in its entirety and replaced with the corresponding
investment objective set forth in the table above.

&nbsp;&nbsp;&nbsp;&nbsp;2. All references to the dates associated with the prior outcome period are deleted in their entirety and
replaced with references to new Outcome Period: May 1, 2026 through April 30, 2027.

&nbsp;&nbsp;&nbsp;&nbsp;3. All references to the Cap for the prior Outcome Period are deleted in their entirety and replaced with
the corresponding Cap set forth in the table above.

Please Keep This Supplement With Your Prospectus For Future Reference