Jennifer Hyman Adds 3,577.8 EL Stock Units via Dividend Reinvestment

Rhea-AI Filing Summary

Jennifer Hyman, a director of Estee Lauder Companies Inc. (EL), reported a non-derivative acquisition on 09/16/2025 consisting of 3,577.8 stock units (Class A Common Stock equivalent) at a reported unit price of $88.52. The filing states these units represent the reinvestment of dividend equivalents on outstanding stock units. The stock units are payable the first business day of the calendar year following the Reporting Person's last date of service as a director. The Form 4 was signed by an attorney-in-fact on 09/17/2025.

Insights

Financial Analyst

TL;DR: Routine dividend-equivalent reinvestment increases director's beneficial holdings; immaterial to company valuation but indicates alignment.

The reported transaction is a non-derivative acquisition of 3,577.8 stock units at a unit value of $88.52 arising from reinvested dividend equivalents. This is a common form of director compensation or dividend reinvestment and does not reflect an active open-market purchase. It increases the director's economic exposure to EL but, given the size and nature, is unlikely to be material to the company’s capitalization or share count.

Corporate Governance Expert

TL;DR: Filing documents routine compensation settlement terms; payout deferred until after director service ends.

The disclosure clarifies that stock units stem from dividend-equivalent reinvestment and that payout is deferred to the first business day of the year following the director's final service date. That structure is consistent with typical director equity arrangements and provides retention and alignment incentives without immediate issuance of public shares. No governance red flags or unusual vesting conditions are disclosed in this filing.

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
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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^*

Hyman Jennifer

(Last) (First) (Middle)

C/O RENT THE RUNWAY, INC.

10 JAY STREET

(Street)

BROOKLYN NY 11201

(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)
09/16/2025

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)	09/16/2025		A(2)		14.09		(3)	(3)	Class A Common Stock	14.09	$88.52	3,577.8	D

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.

Remarks:

	Jennifer Hyman, by Spencer G. Smul, Attorney-in-fact	09/17/2025
	** 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 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 Jennifer Hyman report on Form 4 for EL?

The filing reports a non-derivative acquisition of 3,577.8 stock units on 09/16/2025 representing reinvested dividend equivalents.

How much was the reported unit price in the Form 4?

The Form 4 lists a unit price of $88.52 for the reported stock units.

When will the stock units be paid out to the reporting person?

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

Was this transaction an open-market purchase or a reinvestment?

The filing states the units represent reinvestment of dividend equivalents, not an open-market purchase.

Who signed the Form 4 and when?

The Form 4 was signed by Jennifer Hyman, by Spencer G. Smul, Attorney-in-fact on 09/17/2025.