<SEC-DOCUMENT>0001022408-25-000060.txt : 20250701
<SEC-HEADER>0001022408-25-000060.hdr.sgml : 20250701
<ACCEPTANCE-DATETIME>20250701171907
ACCESSION NUMBER:		0001022408-25-000060
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250630
FILED AS OF DATE:		20250701
DATE AS OF CHANGE:		20250701

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			RAIGUEL DARREN S
		CENTRAL INDEX KEY:			0001736723
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34167
		FILM NUMBER:		251097456

	MAIL ADDRESS:	
		STREET 1:		25850 YELLOW BIRCH COURT
		CITY:			ALDIE
		STATE:			VA
		ZIP:			20105

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EPLUS INC
		CENTRAL INDEX KEY:			0001022408
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-COMPUTER & PERIPHERAL EQUIPMENT & SOFTWARE [5045]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				541817218
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	BUSINESS ADDRESS:	
		STREET 1:		13595 DULLES TECHNOLOGY DRIVE
		CITY:			HERNDON
		STATE:			VA
		ZIP:			20171-3413
		BUSINESS PHONE:		7039848400

	MAIL ADDRESS:	
		STREET 1:		13595 DULLES TECHNOLOGY DRIVE
		CITY:			HERNDON
		STATE:			VA
		ZIP:			20171-3413

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MLC HOLDINGS INC
		DATE OF NAME CHANGE:	19960906
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-06-30</periodOfReport>

    <issuer>
        <issuerCik>0001022408</issuerCik>
        <issuerName>EPLUS INC</issuerName>
        <issuerTradingSymbol>PLUS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001736723</rptOwnerCik>
            <rptOwnerName>RAIGUEL DARREN S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>13595 DULLES TECHNOLOGY DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HERNDON</rptOwnerCity>
            <rptOwnerState>VA</rptOwnerState>
            <rptOwnerZipCode>20171-3413</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOfficer>true</isOfficer>
            <officerTitle>Chief Operating Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-06-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>14179</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>39368</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
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            <transactionDate>
                <value>2025-06-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>14179</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>57748</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Darren S. Raiguel Trust</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
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            <transactionDate>
                <value>2025-06-30</value>
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            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>81</value>
                    <footnoteId id="F3"/>
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                <transactionPricePerShare>
                    <value>61.285</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>39449</value>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">On June 30, 2025, the reporting person transferred 14,179 shares of ePlus inc. common stock from an account owned by the reporting person to the Darren S. Raiguel Trust for no consideration. The reporting person remains the beneficial owner of the securities held by the trust.</footnote>
        <footnote id="F2">The shares are held in a revocable trust, of which the reporting person and his spouse are the sole trustees and beneficiaries.</footnote>
        <footnote id="F3">This voluntary Form 4 is being filed to reflect shares acquired through the reporting person's participation in ePlus inc.'s Employee Stock Purchase Plan.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Erica S. Stoecker, attorney-in-fact</signatureName>
        <signatureDate>2025-07-01</signatureDate>
    </ownerSignature>
</ownershipDocument>
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<TYPE>EX-24
<SEQUENCE>2
<FILENAME>poa_draiguel.htm
<DESCRIPTION>POWER OF ATTORNEY
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  <div style="text-align: right;">&#160;<font style="font-weight: bold;">EXHIBIT 24.1</font><br>
  </div>
  <div> <br>
  </div>
  <div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">LIMITED POWER OF ATTORNEY</div>
  <div><br>
  </div>
  <div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Know all by these presents, that the undersigned hereby constitutes and appoints Erica S. Stoecker and Elaine D. Marion, and with full power of
    substitution, the undersigned's true and lawful attorney&#8209;in&#8209;fact to:</div>
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            <div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt">1.</div>
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            <div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Prepare, execute in the undersigned's name and on the undersigned's behalf, and submit to the U.S. Securities and Exchange Commission (the "SEC")
              electronic filings with the SEC of reports required by Section 16(a) of the Securities Exchange Act of 1934 (the "Exchange Act");</div>
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            <div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney&#8209;in&#8209;fact, may be of benefit to, in the
              best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney&#8209;in&#8209;fact on behalf of the undersigned pursuant to this Limited Power of Attorney shall be in such form and shall
              contain such terms and conditions as such attorney&#8209;in&#8209;fact may approve in such attorney&#8209;in&#8209;fact's discretion.</div>
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  <div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The undersigned hereby grants to each such attorney&#8209;in&#8209;fact full power and authority to do and perform any and every act and thing whatsoever
    requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation,
    hereby ratifying and confirming all that such attorney&#8209;in&#8209;fact, or such attorney&#8209;in&#8209;fact's substitute or substitutes, shall lawfully do or cause to be done by virtue of this Limited Power of Attorney and the rights and powers herein granted.&#160; The
    undersigned acknowledges that the foregoing attorney&#8209;in&#8209;fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the ePlus inc. assuming, any of the undersigned's responsibilities to comply with Section&#160;16 of the
    Exchange Act.</div>
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  <div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">IN WITNESS WHEREOF, the undersigned has caused this Limited Power of Attorney to be executed as of this 7th day of May, 2018.</div>
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            <div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">/s/ Darren S. Raiguel</div>
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            <div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">/s/ Steve Fahle</div>
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          <td style="WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
          <td style="WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
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          <td style="WIDTH: 50%; VERTICAL-ALIGN: top; BORDER-BOTTOM: black 2px solid">
            <div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">/s/ Steve Fahle</div>
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          <td style="WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
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          <td style="WIDTH: 50%; VERTICAL-ALIGN: top">
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