ZANNINO RICHARD F 4

What Happened
Richard F. Zannino, a director of Estee Lauder Companies Inc. (EL), was credited with two derivative stock-unit awards on June 15, 2026. The filing shows acquisitions of 11.60 units at $90.00 ($1,044) and 41.44 units at $90.00 ($3,730), for a combined value of approximately $4,774. These are recorded as awards/grants (derivative stock units), not open-market purchases or option exercises.

Key Details

• Transaction date: 2026-06-15; filing date: 2026-06-16 (filed next business day).
• Items acquired: 11.60 units @ $90.00 = $1,044 and 41.44 units @ $90.00 = $3,730 (total ≈ $4,774). Transaction code: A (award/grant).
• Nature: Derivative stock units (not common shares); footnote indicates reinvestment of dividend equivalents on outstanding stock units (F2).
• Payout timing: Units will be paid out the first business day of the year following the last date of the reporting person's service as a director (F3).
• Ownership after transaction: Not specified in the filing.
• Additional note: The filing references an LLC owned by family trusts for which the reporting person has investment power (F4).
• Timeliness: Filing appears timely (filed the business day after the transaction).

Context
These entries represent crediting of stock units (including reinvested dividend equivalents) that will convert to shares after Zannino's service ends — a common form of director compensation. Because these are awards/units and small in dollar value, they do not reflect an open-market purchase or sale and should be viewed as routine director compensation rather than an explicit bullish or bearish market signal.