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Estee Lauder | SC 13G/A: Statement of acquisition of beneficial ownership by individuals (Amendment)-LAL Family Corporation(25.7%)

SEC announcement ·  Feb 13 06:06
Summary by Futu AI
On December 31, 2023, LAL Family Corporation filed an amendment to their Schedule 13G with the SEC, indicating a significant ownership stake in The Estée Lauder Companies Inc. The filing, which is the 18th amendment, shows that LAL Family Corporation beneficially owns 80,437,628 shares of Estée Lauder's Class A Common Stock, representing approximately 25.7% of the class. These shares are held indirectly through LAL Family Partners L.P., where LAL Family Corporation acts as the sole general partner. The shares in question consist of Class B Common Stock, which is convertible into Class A shares and carries ten times the voting power per share compared to Class A. Without conversion, the ownership represents about 54.0% of the aggregate voting power of the company. The...Show More
On December 31, 2023, LAL Family Corporation filed an amendment to their Schedule 13G with the SEC, indicating a significant ownership stake in The Estée Lauder Companies Inc. The filing, which is the 18th amendment, shows that LAL Family Corporation beneficially owns 80,437,628 shares of Estée Lauder's Class A Common Stock, representing approximately 25.7% of the class. These shares are held indirectly through LAL Family Partners L.P., where LAL Family Corporation acts as the sole general partner. The shares in question consist of Class B Common Stock, which is convertible into Class A shares and carries ten times the voting power per share compared to Class A. Without conversion, the ownership represents about 54.0% of the aggregate voting power of the company. The filing also details a Stockholders' Agreement that governs certain aspects of share ownership and voting among the Lauder family members and related entities. The agreement includes provisions for the election of directors and restrictions on share transfers. The aggregate voting power under the Stockholders' Agreement is approximately 84% as of the reporting date.

This announcement is a separate document:

Doc 1

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