FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Settersten Scott M 		2. Issuer Name and Ticker or Trading Symbol

Ulta Beauty, Inc. [ ULTA ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Chief Financial Officer
(Last)          (First)          (Middle)

1000 REMINGTON BLVD, SUITE 120 		3. Date of Earliest Transaction (MM/DD/YYYY)

3/19/2019
(Street)

BOLINGBROOK, IL 60440
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   3/19/2019     M    2760   A $24.53   7737   D    
Common Stock   3/19/2019     M    5000   A $69.96   12737   D    
Common Stock   3/19/2019     M    1348   A $86.06   14085   D    
Common Stock   3/19/2019     M    1939   A $97.89   16024   D    
Common Stock   3/19/2019     M    3612   A $151.20   19636   D    
Common Stock   3/19/2019     M    7037   A $191.76   26673   D    
Common Stock   3/19/2019     M    4385   A $281.53   31058   D    
Common Stock   3/19/2019     M    3448   A $204.27   34506   D    
Common Stock   3/19/2019     S    29529   D $338.6444   (1) 4977   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy)   $24.53   3/19/2019     M         2760      (2) 6/14/2020   Common Stock   2760   $0   0   D    
Stock Option (right to buy)   $69.96   3/19/2019     M         5000      (3) 9/13/2021   Common Stock   5000   $0   0   D    
Stock Option (right to buy)   $86.06   3/19/2019     M         1348      (4) 5/10/2022   Common Stock   1348   $0   0   D    
Stock Option (right to buy)   $97.89   3/19/2019     M         1939      (5) 3/28/2024   Common Stock   1939   $0   0   D    
Stock Option (right to buy)   $151.20   3/19/2019     M         3612      (6) 3/27/2025   Common Stock   3612   $0   0   D    
Stock Option (right to buy)   $191.76   3/19/2019     M         7037      (7) 3/25/2026   Common Stock   7037   $0   2346   D    
Stock Option (right to buy)   $281.53   3/19/2019     M         4385      (8) 3/24/2027   Common Stock   4385   $0   4386   D    
Stock Option (right to buy)   $204.27   3/19/2019     M         3448      (9) 3/29/2028   Common Stock   3448   $0   10344   D    

Explanation of Responses:
(1)  The price reported in Column 4 is a weighted average price. The prices actually received ranged from $336.04 to $343.425. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing a weighted average price.
(2)  The options, representing a right to purchase a total of 25,000 shares, vest 25% on each anniversary date of the 6/14/2010 grant date.
(3)  The options, representing a right to purchase a total of 5,000 shares, vest 25% on each anniversary date of the 9/13/2011 grant date.
(4)  The options, representing a right to purchase a total of 1,348 shares, vest in 25% increments beginning on 3/23/2013 and on each anniversary date thereafter.
(5)  The options, representing a right to purchase a total of 7,753 shares, vest in 25% increments beginning on 3/16/2015 and on each anniversary date thereafter.
(6)  The options, representing a right to purchase a total of 3,612 shares, vest in 25% increments beginning on 3/15/2016 and on each anniversary date thereafter.
(7)  The options, representing a right to purchase a total of 9,383 shares, vest in 25% increments beginning on 3/15/2017 and on each anniversary date thereafter.
(8)  The options, representing a right to purchase a total of 8,771 shares, vest in 25% increments beginning on 3/15/2018 and on each anniversary date thereafter.
(9)  The options, representing a right to purchase a total of 13,792 shares, vest in 25% increments beginning on 3/15/2019 and on each anniversary date thereafter.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Settersten Scott M
1000 REMINGTON BLVD
SUITE 120
BOLINGBROOK, IL 60440

Chief Financial Officer

Signatures
/s/ Jodi J. Caro, as attorney-in-fact for Scott M. Settersten 3/21/2019
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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