It’s the most commonly used version of pure vitamin E in cosmetics. You can read all about the pure form here. This one is the so-called esterified version.
According to famous dermatologist, Leslie Baumann while tocopheryl acetate is more stable and has a longer shelf life, it’s also more poorly absorbed by the skin and may not have the same awesome photoprotective effects as pure Vit E.
- Leslie Baumann, MD, Cosmetic Dermatology, 2nd edition, Vitamin E - pages 293-294