ZANNINO RICHARD F 4

What Happened
Richard F. Zannino, a director of Estee Lauder Companies Inc. (EL), received two award/ grant transactions on 2026-03-16 totaling 53.39 derivative stock units (11.68 and 41.71 units). Each unit was valued at $88.76, producing reported values of $1,037 and $3,702 respectively (combined ≈ $4,739). These were recorded as awards (transaction code A) of stock units — not open-market share purchases.

Key Details

• Transaction date: 2026-03-16; Form filed: 2026-03-17 (timely filing).
• Prices and values: 11.68 units × $88.76 = $1,037; 41.71 units × $88.76 = $3,702; total ≈ $4,739.
• Type: Award/Grant of derivative stock units (not immediate common shares).
• Payout timing: Footnote indicates 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.
• Dividend treatment: Footnote notes these represent reinvestment of dividend equivalents on outstanding stock units.
• Ownership note: A footnote states an LLC owned by family trusts holds securities and the reporting person has investment power over those securities.
• Shares owned after transaction: Not specified in the provided filing.

Context
These entries are awards of stock units (derivative compensation) rather than open-market buys or sales; such grants are typically part of director compensation or dividend-equivalent reinvestment and do not necessarily signal a personal market bet. The units are payable only after the director’s service ends per the filing.