LAUDER AERIN 4

What Happened
Aerin Lauder (reported as a 10% owner) was the recipient of a gift of 4,768,846 shares on April 8, 2026. The transaction is coded G (gift) on the Form 4; no purchase price or cash consideration was exchanged. The shares are Class B Common Stock, which have no exercise/conversion price and may be converted one-for-one into Class A Common Stock (see footnote F1). Footnote F2 states the shares were transferred from Ronald S. Lauder for no consideration.

Key Details

• Transaction date: 2026-04-08. Form filed: 2026-04-10 (appears timely under the 2-business-day Form 4 rule).
• Transaction type/code: Gift (G) — 4,768,846 shares acquired. Price: N/A.
• Security: Class B Common Stock (convertible one-for-one to Class A; automatic conversion rules noted in F1).
• Source: Transferred from Ronald S. Lauder for no consideration (F2).
• Ownership/structure notes: footnotes indicate trust ownership and trustee roles (e.g., RSL Shares Trust — F4) and include standard disclaimers about pecuniary interest (F7).
• Shares owned after transaction: not specified in the provided excerpt of the filing.

Context
Gifts are transfers of ownership and do not reflect an open-market buying or selling decision by the recipient; they are not direct indicators of bullish or bearish sentiment. As a reported 10% owner and given the Class B shares’ conversion features, this is primarily a family/ownership-structure transfer rather than a routine trading activity. The filing appears timely.