Estee Lauder director awarded cash-settled stock units

FRIBOURG PAUL J reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

FRIBOURG PAUL J reported acquisition or exercise transactions in this Form 4 filing.

Estee Lauder Companies Inc. director Paul J. Fribourg reported receiving a grant of 308.3 Stock Units (cash payout) on February 27, 2026. Each unit is tied 1:1 to the value of one share of Class A common stock and is awarded in lieu of cash retainers for board and committee service. These stock units will be paid in cash on the first business day of the calendar year after his board service ends, and his direct holdings in these units total 40,907.34 following the grant.

Insider Trade Summary

Grant/Award: 308.3 shares

Grant/Award 1 txn

Insider FRIBOURG PAUL J

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Units (Cash Payout)	308.3	$109.47	$34K

Holdings After Transaction: Stock Units (Cash Payout) — 40,907.34 contracts (Direct)

Footnotes (3)

1. F1. Each stock unit (cash payout) is convertible into cash equal to the value of one share of Class A Common Stock (i.e. 1:1).
2. F2. Represents grant of Stock Units in lieu of cash for quarterly board, committee chair, and committee member retainers.
3. F3. The Stock Units (cash payout) 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Estee Lauder (EL) director Paul J. Fribourg report?

Paul J. Fribourg reported receiving a grant of 308.3 Stock Units (cash payout). The units were awarded as compensation for board and committee retainers, increasing his directly held stock unit balance to 40,907.34 after the transaction.

How are the Estee Lauder (EL) Stock Units reported by Paul J. Fribourg settled?

The Stock Units are cash-settled rather than paid in shares. Each unit converts into cash equal to the value of one share of Estee Lauder Class A common stock, based on a 1:1 value relationship at payout time.

When will Paul J. Fribourg receive the cash payout for the Estee Lauder (EL) Stock Units?

The Stock Units will be paid in cash on the first business day of the calendar year following the last date of his service as a director. This means payout timing depends on when his board service ultimately ends.

Why did Estee Lauder (EL) grant Stock Units instead of cash to Paul J. Fribourg?

The grant represents Stock Units issued in lieu of cash for quarterly board, committee chair, and committee member retainers. This structure effectively ties a portion of director compensation to Estee Lauder’s Class A common stock value over time.

What is the reference value per unit in Paul J. Fribourg’s Estee Lauder (EL) grant?

The reported reference price for the 308.3 Stock Units is $109.47 per unit. Each unit reflects the value of one share of Class A common stock, providing a basis for the cash payout calculation at settlement.

How many Estee Lauder (EL) Stock Units does Paul J. Fribourg hold after this Form 4 transaction?

After the grant of 308.3 Stock Units, Paul J. Fribourg directly holds a total of 40,907.34 Stock Units. These units are all designated as cash payout instruments linked to Estee Lauder’s Class A common stock value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/02/2026 - 01:33 PM Learn about SEC filing dates

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^*

FRIBOURG PAUL J

(Last) (First) (Middle)

C/O CONTIGROUP COMPANIES, INC.

767 FIFTH AVENUE

(Street)

NEW YORK NY 10153

(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)
02/27/2026

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 (Cash Payout)	(1)	02/27/2026		A(2)		308.3		(3)	(3)	Class A Common Stock	308.3	$109.47	40,907.34	D

Explanation of Responses:

1. Each stock unit (cash payout) is convertible into cash equal to the value of one share of Class A Common Stock (i.e. 1:1).

2. Represents grant of Stock Units in lieu of cash for quarterly board, committee chair, and committee member retainers.

3. The Stock Units (cash payout) 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:

	Paul J. Fribourg, by Robin Cohen, Attorney-in-fact	03/02/2026
	** 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.