EL Form 4: Jennifer Tejada Records Dividend Equivalent Reinvestment

Rhea-AI Filing Summary

Jennifer Tejada, a director of Estee Lauder Companies Inc. (EL), recorded a non‑derivative acquisition on 09/16/2025 representing the reinvestment of dividend equivalents into 3,577.8 stock units. The report shows a per‑unit value of $88.52 and states these stock units will be paid out the first business day of the calendar year following the last date of Ms. Tejada's service as a director. The Form 4 was signed by an attorney‑in‑fact on 09/17/2025.

Positive

• 3,577.8 Class A stock units were acquired via reinvestment of dividend equivalents as disclosed
• The report clarifies that the stock units will be paid out after the last date of the director's service, indicating deferred compensation alignment

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine director compensation reinvestment; no change in governance or control.

This Form 4 documents a routine reinvestment of dividend equivalents into stock units for a director. The transaction is non‑derivative and does not indicate any purchase or sale of shares that would alter voting control. The units are payable only after the director ceases service, which is a standard deferred compensation feature aligning long‑term incentives with continued board service.

Securities Analyst

TL;DR: Non‑material share unit accrual recorded; no immediate dilution or cash transaction disclosed.

The Form 4 reports 3,577.8 Class A stock units valued at $88.52 each as a result of dividend equivalent reinvestment. Because these are stock units payable upon termination of service, there is no current transfer of voting shares or cash impact disclosed. This is a routine disclosure consistent with director compensation plans.

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^*

Tejada Jennifer

(Last) (First) (Middle)

C/O PAGERDUTY, INC.

600 TOWNSEND STREET

(Street)

SAN FRANCISCO CA 94103

(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 Tejada, 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 the Form 4 filed for EL report on 09/16/2025?

The Form 4 reports the reinvestment of dividend equivalents into 3,577.8 Class A stock units at a reported value of $88.52 per unit.

Who is the reporting person on this Form 4 for EL?

The reporting person is Jennifer Tejada, identified as a director of Estee Lauder Companies Inc.

When will the reported stock units be paid out?

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.

Was this Form 4 signed directly by the reporting person?

The Form 4 was executed by Spencer G. Smul, Attorney‑in‑fact for Jennifer Tejada and dated 09/17/2025.

Does the filing indicate an immediate change in share ownership or control for EL?

No. The filing describes a reinvestment into stock units that are deferred and does not show an immediate transfer of voting shares that would change control.