[Form 3] ESTEE LAUDER COMPANIES INC Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Estee Lauder Companies Inc. (EL) received an initial beneficial ownership statement (Form 3) tied to dual-class equity. The reporting person disclosed Class B Common Stock that is convertible into 5,670,000 shares of Class A Common Stock.

The filing states no exercise or conversion price; Class B may be converted immediately on a one-for-one basis and is automatically converted upon transfer to a non‑“Permitted Transferee” or soon after a record date if Class B outstanding falls below 10% of total common shares. The shares are owned by The LAL 2015 ELF Trust, with Roaring Fork Trust Company, Inc. as trustee, which disclaims pecuniary interest. The reporting person indicates status as Director and 10% Owner. The event date is 11/03/2025.

Insights

Governance & Equity Structure Analyst

Routine Form 3 establishing baseline dual-class holdings.

This filing lists initial beneficial ownership in Class B Common Stock that is convertible into 5,670,000 shares of Class A Common Stock. The conversion is immediate on a one-for-one basis and carries no exercise price, clarifying mechanics of Estee Lauder’s dual-class structure.

The ownership is attributed to The LAL 2015 ELF Trust, with the trustee disclaiming pecuniary interest, which is common for trust-held insider stakes. Status boxes indicate Director and 10% Owner, signaling significant insider alignment but without transactional proceeds or price terms.

There is no sale or issuance here; it documents existing rights and conversion triggers, including automatic conversion upon transfer to a non‑Permitted Transferee or after a record date if Class B falls below 10%. Actual impact depends on future holder actions and any subsequent conversions disclosed in later filings.

SEC Form 3

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
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

LAL 2015 ELF Trust

(Last) (First) (Middle)

C/O ROARING FORK TRUST COMPANY, INC.

212 S. MAIN AVENUE, SUITE #147

(Street)

SIOUX FALLS SD 57104

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
11/03/2025

3. Issuer Name and Ticker or Trading Symbol
ESTEE LAUDER COMPANIES INC [ EL ]

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

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

5. If Amendment, Date of Original Filed (Month/Day/Year)

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

	Form filed by One Reporting Person
X	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)

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: 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
Class B Common Stock	(1)	(1)	Class A Common Stock	5,670,000	(1)	D(2)

1. Name and Address of Reporting Person^*

LAL 2015 ELF Trust

(Last) (First) (Middle)

C/O ROARING FORK TRUST COMPANY, INC.

212 S. MAIN AVENUE, SUITE #147

(Street)

SIOUX FALLS SD 57104

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Roaring Fork Trust Company, Inc.

(Last) (First) (Middle)

212 S. MAIN AVENUE, SUITE #147

(Street)

SIOUX FALLS SD 57104

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. There is no exercise or conversion price for the Class B Common Stock. Shares of Class B Common Stock may be converted immediately on a one-for-one basis by the holder and are automatically converted into Class A Common Stock on a one-for-one basis upon transfer to a person or entity that is not a "Permitted Transferee" (as defined in the Issuer's Restated Certificate of Incorporation) or soon after a record date for a meeting of stockholders where the outstanding Class B Common Stock constitutes less than 10% of the outstanding shares of Common Stock of the Issuer.

2. Owned by The LAL 2015 ELF Trust (the "ELF Trust"). Roaring Fork Trust Company, Inc. serves as trustee of the ELF Trust and disclaims a pecuniary interest in such shares.

Remarks:

Exhibit 99.1 (Signatures and Joint Filer Information) is incorporated herein by reference.

	See Exhibit 99.1 for Signatures	11/06/2025
	** 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 Number.

FAQ

What did Estee Lauder (EL) disclose in this Form 3?

Initial beneficial ownership of Class B Common Stock convertible into 5,670,000 shares of Class A Common Stock.

What are the conversion terms for EL’s Class B shares?

Class B converts to Class A on a one-for-one basis with no exercise price.

When do Class B shares convert automatically at EL?

Upon transfer to a non‑Permitted Transferee or soon after a record date if Class B outstanding falls below 10% of total common stock.

Who holds the disclosed EL shares?

The shares are owned by The LAL 2015 ELF Trust; the trustee disclaims pecuniary interest.

What is the reporting person’s relationship to EL?

The filing marks the reporting person as a Director and 10% Owner.

What is the event date for this EL ownership report?

The event date is 11/03/2025.