Estee Lauder (EL) director adds stock units via dividend equivalents

Rhea-AI Filing Summary

ESTEE LAUDER COMPANIES INC director Richard F. Zannino acquired additional stock units as part of his board compensation. On March 16, 2026, he received 11.6800 stock units with a share payout in his direct account and 41.7100 stock units through an LLC owned by family trusts. Footnotes state these amounts represent reinvestment of dividend equivalents on outstanding stock units, rather than open-market purchases. The stock units are tied to Class A Common Stock and will be paid out in shares on the first business day of the calendar year following his last day of service as a director.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider ZANNINO RICHARD F

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Units (Share Payout)	11.68	$88.76	$1K
Grant/Award	Stock Units (Share Payout)	41.71	$88.76	$4K

Holdings After Transaction: Stock Units (Share Payout) — 2,983.51 shares (Direct); Stock Units (Share Payout) — 10,656.19 shares (Indirect, by LLC)

Footnotes (1)

1. Not applicable. Represents reinvestment of dividend equivalents on outstanding stock units. The stock units will be paid out the first business day of the calendar year following the last date of the Reporting Person's service as a director of the Company. Limited Liability Company ("LLC") owned by trusts for the benefit of members of the Reporting Person's family. The Reporting Person has investment power over the securities of the Issuer held by the LLC.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ZANNINO RICHARD F

(Last) (First) (Middle)

C/O CCMP CAPITAL PARTNERS

277 PARK AVENUE

(Street)

NEW YORK NY 10172

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

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

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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Units (Share Payout)	(1)	03/16/2026		A(2)		11.68		(3)	(3)	Class A Common Stock	11.68	$88.76	2,983.51	D
Stock Units (Share Payout)	(1)	03/16/2026		A(2)		41.71		(3)	(3)	Class A Common Stock	41.71	$88.76	10,656.19	I	by LLC(4)

Explanation of Responses:

1. Not applicable.

2. Represents reinvestment of dividend equivalents on outstanding stock units.

3. The stock units will be paid out the first business day of the calendar year following the last date of the Reporting Person's service as a director of the Company.

4. Limited Liability Company ("LLC") owned by trusts for the benefit of members of the Reporting Person's family. The Reporting Person has investment power over the securities of the Issuer held by the LLC.

Remarks:

	Richard F. Zannino, by Robin Cohen, Attorney-in-fact	03/17/2026
	** 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 4 (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) director Richard F. Zannino report in this Form 4?

Richard F. Zannino reported acquiring additional stock units as part of director compensation. These units came from dividend equivalent reinvestment on existing stock units, not open-market trades, and are tied to future payout in Class A Common Stock after his board service ends.

How many stock units did Richard F. Zannino receive in the latest Estee Lauder (EL) filing?

He received 11.6800 stock units directly and 41.7100 stock units indirectly via an LLC. Both positions reflect reinvested dividend equivalents on outstanding stock units, increasing his deferred equity-linked compensation rather than representing cash purchases or market sales of Estee Lauder shares.

Are Richard F. Zannino’s new Estee Lauder (EL) stock units open-market purchases?

No, the filing states the stock units represent reinvestment of dividend equivalents on outstanding stock units. This mechanism automatically converts dividends into additional stock units, functioning as deferred equity compensation rather than discretionary open-market buying of Estee Lauder Class A Common Stock.

When will Richard F. Zannino’s Estee Lauder (EL) stock units be paid out?

The stock units will be paid out in shares on the first business day of the calendar year after his last date of service as a director. This creates a deferred payout schedule, tying value realization to the end of his board tenure at Estee Lauder Companies Inc.

How are indirect Estee Lauder (EL) holdings described for Richard F. Zannino?

The filing notes 41.7100 stock units are held through a limited liability company owned by trusts for his family members. Footnotes explain the LLC is owned by these trusts and that Richard F. Zannino has investment power over the issuer securities held by the LLC.

What role do dividend equivalents play in Estee Lauder (EL) director compensation here?

Dividend equivalents on outstanding stock units are reinvested into additional stock units, as stated in the footnotes. This means cash dividends are converted into more units tied to Class A Common Stock, increasing deferred equity-based compensation without immediate cash transactions in the open market.