STERNLICHT BARRY S 4

What Happened Barry S. Sternlicht, a director of Estee Lauder Companies Inc. (EL), was granted 246.64 stock units on 2026-02-27 valued at $109.47 per share, for a total award value of $27,000. The Form 4 reports this as an award/other acquisition (code A); these are stock units (a derivative) granted in lieu of cash board and committee retainers, not an open-market purchase.

Key Details

• Transaction date and terms: 2026-02-27 — 246.64 stock units at $109.47 each, total $27,000 (derivative award).
• Filing: Report filed 2026-03-02 (filed within the SEC two-business-day window for a 2026-02-27 transaction).
• Shares owned after transaction: Not disclosed in the report.
• Transaction code/type: A (award/grant/other acquisition).
• Footnotes: F1–F3 explain units are cash-settled 1:1 to the value of one share, granted in lieu of cash retainers, and will be paid the first business day of the calendar year following the last date of the director’s service.

Context These stock units are a form of deferred cash compensation (derivative units convertible to cash), not an immediate purchase of shares; payment is deferred until after the director’s service ends. Such awards are routine board compensation and do not, by themselves, indicate a buy or sell signal.