Zinterhofer Eric Louis 4

What Happened

• Eric Louis Zinterhofer, a director of Estee Lauder Companies Inc. (EL), received a grant of 246.64 stock units on February 27, 2026. The units are cash‑settled (derivative) and were valued at $109.47 per unit, for a total grant value of $27,000. This was an award (code A) — not an open‑market purchase or sale.

Key Details

• Transaction date and terms: 2026-02-27 — 246.64 stock units @ $109.47 each; total value $27,000 (derivative award).
• Nature of award: Stock Units are cash‑settled and convertible 1:1 into cash equal to the value of one share of Class A common stock (Footnote F1).
• Reason for grant: Units represent payment in lieu of cash for quarterly board and committee retainers (Footnote F2).
• Payout timing: The stock units will be paid out the first business day of the calendar year following the reporting person’s last date of service as a director (deferred until departure) (Footnote F3).
• Shares owned after transaction: Not specified in the provided filing.
• Filing timeliness: Report filed 2026-03-02 for a 2026-02-27 grant — appears timely (Form 4 must be filed within two business days).

Context

• This is a routine, non‑cash director compensation award (deferred cash equivalent), not an immediate purchase of shares. Because the units are cash‑settled and paid after the director’s service ends, they do not represent current share ownership or an immediate market buy/sell signal. Such awards are common for board retainers and should be viewed as compensation rather than a direct expression of trading intent.