Michael Bowes, Executive Vice President and Chief People Officer of Estee Lauder Companies Inc., filed a Form 4 on November 3, 2026, disclosing RSU vesting transactions in Class A Common Stock dated November 2, 2026.

Key Highlights

  • RSU payout: Michael Bowes acquired 2,967.9 shares of Class A Common Stock on November 2, 2026, through the vesting of RSU portions at a price of $0, representing payouts from grants dated August 28, 2023; August 27, 2024; and August 28, 2025.
  • Tax withholding: 1,276.9 shares were disposed of on November 2, 2026, at $108.3 per share to cover statutory tax obligations.
  • Resulting ownership: Following both transactions, Bowes directly held 3,443.219 shares of Class A Common Stock.
  • Remaining RSU balance: After the reported transactions, Bowes retained 871 RSUs from the August 27, 2024 grant and 3,217 RSUs from the August 28, 2025 grant as derivative securities beneficially owned.
  • Future vesting schedule: According to the filing, 871 RSUs from the 2024 grant are set to vest November 1, 2027; 1,608 RSUs from the 2025 grant are set to vest November 1, 2027; and 1,609 RSUs from the 2025 grant are set to vest November 1, 2028, assuming continued employment.

RSU Vesting and Share Withholding Details for Bowes at Estee Lauder

According to the Form 4 filed with the SEC on November 3, 2026, Michael Bowes, who serves as Executive Vice President and Chief People Officer (Exec VP & CPO) at Estee Lauder Companies Inc. (NYSE:EL), reported two non-derivative transactions in Class A Common Stock on November 2, 2026. The first was an acquisition of 2,967.9 shares (transaction code M) at $0, reflecting the payout of shares upon vesting of portions of RSUs granted on August 28, 2023; August 27, 2024; and August 28, 2025. The second was a disposition of 1,276.9 shares (transaction code F) at $108.3 per share, representing shares withheld for tax purposes.

The filing also reports activity across three RSU tranches in Table II. A tranche of 457 RSUs from the August 28, 2023 grant vested and was fully paid out on November 2, 2026, leaving zero RSUs remaining from that grant. A tranche of 871 RSUs from the August 27, 2024 grant was converted on November 2, 2026, with 871 RSUs remaining, set to vest November 1, 2027, assuming continued employment. A tranche of 1,608 RSUs from the August 28, 2025 grant was also reported, with 3,217 RSUs remaining; according to the filing, 1,608 are scheduled for November 1, 2027, and 1,609 for November 1, 2028, assuming continued employment.

The filing notes that RSUs granted prior to Bowes becoming an Executive Officer carry dividend equivalent rights payable in shares at the time of payout, while RSUs from the August 28, 2025 grant carry dividend equivalent rights payable in cash. All RSU payouts are on a one-to-one basis with Class A Common Stock. The form was signed by Annalisa Loeffler as attorney-in-fact for Michael Bowes on November 3, 2026.

What Was Disclosed

Michael Bowes disclosed the vesting of RSU portions across three annual grants, resulting in the acquisition of 2,967.9 Class A shares and the withholding of 1,276.9 shares for taxes, leaving a direct beneficial ownership of 3,443.219 shares as of November 2, 2026.