FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Oyibo Paula M
2. Date of Event Requiring Statement (Month/Day/Year)
04/01/2024		 3. Issuer Name and Ticker or Trading Symbol
Ulta Beauty, Inc. [ULTA]
(Last)
(First)
(Middle)
1000 REMINGTON BLVD, SUITE 120		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Financial Officer
5. If Amendment, Date Original Filed (Month/Day/Year)
(Street)

BOLINGBROOK, IL 60440		 6. Individual or Joint/Group Filing (Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4) 		2. Amount of Securities Beneficially Owned
(Instr. 4) 		3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5) 		4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 3,367 (1)
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4) 		2. Date Exercisable and Expiration Date
(Month/Day/Year) 		3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4) 		4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5) 		6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy)   (2) 03/27/2030 Common Stock 1,058 $ 174.45 D  
Stock Option (right to buy)   (3) 03/25/2031 Common Stock 222 $ 306.59 D  
Stock Option (right to buy)   (4) 03/24/2032 Common Stock 327 $ 395.84 D  
Stock Option (right to buy)   (5) 03/31/2033 Common Stock 434 $ 545.67 D  
Stock Option (right to buy)   (6) 03/29/2034 Common Stock 2,760 $ 522.88 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Oyibo Paula M
1000 REMINGTON BLVD
SUITE 120
BOLINGBROOK, IL 60440		       Chief Financial Officer  

Signatures

/s/ Jodi J. Caro, as attorney-in-fact for Paula M. Oyibo 04/02/2024
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(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).
(1) Includes shares of restricted stock that vest from 2025 to 2027.
(2) The options, representing an initial right to purchase a total of 1,058 shares, vesting in 25% annual increments beginning March 15, 2021 and each anniversary thereafter through March 15, 2024.
(3) The options, representing an initial right to purchase a total of 222 shares, vesting in 25% annual increments beginning March 15, 2022 and each anniversary thereafter through March 15, 2025.
(4) The options, representing an initial right to purchase a total of 327 shares, vesting in 25% annual increments beginning March 15, 2023 and each anniversary thereafter through March 15, 2026.
(5) The options, representing an initial right to purchase a total of 434 shares, vesting in 25% annual increments beginning March 15, 2024 and each anniversary thereafter through March 15, 2027.
(6) The options, representing an initial right to purchase a total of 2,760 shares, vesting in 25% annual increments beginning March 15, 2025 and each anniversary thereafter through March 15, 2028.

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