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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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
                      

1. Name and Address of Reporting Person *

Schultz Frank

2. Date of Event Requiring Statement (MM/DD/YYYY)
4/14/2011 

3. Issuer Name and Ticker or Trading Symbol

ELLIE MAE INC [ELLI]

(Last)        (First)        (Middle)

C/O ELLIE MAE, INC., 4155 HOPYARD ROAD, SUITE 200

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                            _____ 10% Owner
_____ Officer (give title below)          _____ Other (specify below)

(Street)

PLEASANTON, CA 94588       

(City)              (State)              (Zip)
5. 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 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, $0.0001 par value   2225   (1) I   By Revocable Trust   (2)
Common Stock, $0.0001 par value   19596   (1) I   By IRA   (3)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(MM/DD/YYYY)
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
Series B Preferred Stock     (4)   (5) Common Stock   66666   (1) (6) $0.00   I   See Footnote   (2)
Series D Preferred Stock     (4)   (5) Common Stock   13661   (1) (6) $0.00   I   See Footnote   (3)
Series E Preferred Stock     (4)   (5) Common Stock   21192   (1) (6) $0.00   I   See Footnote   (3)
Series F Preferred Stock     (4)   (5) Common Stock   8513   (1) (6) $0.00   I   See Footnote   (3)
Warrant to Purchase Common Stock     (7) 7/13/2011   Common Stock   887   (1) $3   (1) I   See Footnote   (3)
Warrant to Purchase Common Stock     (7) 8/9/2011   Common Stock   887   (1) $3   (1) I   See Footnote   (3)
Warrant to Purchase Common Stock     (7) 10/1/2011   Common Stock   2393   (1) $3   (1) I   See Footnote   (3)
Stock Option (right to buy)     (8) 12/20/2015   Common Stock   10666   (1) $1.38   (1) D    
Stock Option (right to buy)     (8) 12/18/2018   Common Stock   5000   (1) $1.38   (1) D    
Stock Option (right to buy)     (9) 4/23/2019   Common Stock   16000   (1) $1.38   (1) D    
Stock Option (right to buy)     (8) 4/17/2011   Common Stock   4000   (1) $13.83   (1) D    
Stock Option (right to buy)     (10) 8/26/2020   Common Stock   21666   (1) $8.85   (1) D    
Stock Option (right to buy)     (8) 4/27/2014   Common Stock   3333   (1) $1.38   (1) D    
Stock Option (right to buy)     (8) 12/18/2011   Common Stock   2000   (1) $3.75   (1) D    

Explanation of Responses:
( 1)  Reflects a 1-for-3 reverse stock split of the Issuer's outstanding securities effected immediately prior to the effectiveness of the Issuer's S-1 Registration Statement (Commission File No. 333-166438).
( 2)  These securities are held by the Frank J. and Paula C. Schultz 1989 Revocable Trust dated May 12, 1989.
( 3)  These shares are held by Charles Schwab & Co. Inc. Custodian FBO Frank J. Schultz Roth Contributory IRA.
( 4)  The shares are immediately convertible.
( 5)  The shares do not have an expiration date.
( 6)  Each share of Series B, Series D, Series E and Series F Preferred Stock will automatically convert on a 1-for-1 basis into common stock upon the closing of the Issuer's initial public offering.
( 7)  This warrant is immediately exercisable.
( 8)  100% of the shares subject to the option are fully vested and exercisable.
( 9)  Option vests with respect to 1/24th of the shares subject thereto monthly commencing on April 23, 2009, such that the option will be fully vested and exercisable on April 23, 2011.
( 10)  Option vests with respect to 1/36th of the shares subject thereto monthly commencing on August 26, 2010, such that the option will be fully vested and exercisable on August 26, 2013.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Schultz Frank
C/O ELLIE MAE, INC.
4155 HOPYARD ROAD, SUITE 200
PLEASANTON, CA 94588
X



Signatures
/s/ LeeAnn Linck, Attorney-in-Fact for Frank J. Schultz 4/14/2011
** 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 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).
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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