Paul J. Fribourg, a director at Estee Lauder Companies Inc, filed a Form 4 on September 15, 2026, disclosing the sale of 103,000 shares of Class A Common Stock between September 11 and September 14, 2026, with all shares held indirectly through Continental Grain Company.

Key Highlights

  • Reporting person: Paul J. Fribourg, identified as a Director of Estee Lauder Companies Inc (NYSE:EL).
  • Total shares sold: 103,000 shares of Class A Common Stock disposed of across four transactions on September 11 and September 14, 2026.
  • Weighted average prices: $96.78, $97.17, $98.35, and $98.79 per share for the four respective transactions, each representing aggregated open-market sales.
  • Remaining indirect holdings: 417,300 shares of Class A Common Stock beneficially owned indirectly following all reported transactions, held by Continental Grain Company.
  • Indirect ownership structure: Shares are held by Continental Grain Company; Fribourg is Executive Chairman and co-trustee of various family trusts that collectively control a majority interest in Continental Grain Company.
  • Disclaimer of beneficial ownership: According to the filing, Fribourg "disclaims beneficial ownership of any shares in which he does not have a pecuniary interest."

Fribourg's Four-Transaction Sale of Estee Lauder Class A Shares

According to the filing, Paul J. Fribourg, a director of Estee Lauder Companies Inc (NYSE:EL) whose address is listed as c/o ContiGroup Companies, Inc., 767 Fifth Avenue, New York, New York 10153, reported four separate dispositions of Class A Common Stock, all coded "S" for open-market sales. The earliest transaction date is September 11, 2026, with three additional transactions occurring on September 14, 2026.

The filing states that each reported price is a weighted average, as each transaction aggregates multiple open-market sales across a price range. On September 11, 2026, 45,000 shares were sold at a weighted average of $96.78, with individual sale prices ranging from $96.41 to $97.19 per share. On September 14, 2026, three tranches were disposed of: 14,777 shares at a weighted average of $97.17 (range $96.75 to $97.70), 27,086 shares at a weighted average of $98.35 (range $97.71 to $98.61), and 16,137 shares at a weighted average of $98.79 (range $98.62 to $99.05). The filing notes that Fribourg undertakes to provide the number of shares sold at each separate price upon request by the SEC staff, the issuer, or a stockholder.

All shares were held indirectly through Continental Grain Company. The filing explains that Fribourg may be deemed to share voting and investment power over these shares by virtue of his role as Executive Chairman of Continental Grain Company, and as co-trustee and, in one case, beneficiary of various family trusts that collectively control a majority interest in that company. The filing was signed by Robin Cohen as attorney-in-fact for Paul J. Fribourg on September 15, 2026.

What Was Disclosed

The Form 4 filing reports the disposal of 103,000 shares of Estee Lauder Class A Common Stock by director Paul J. Fribourg between September 11 and September 14, 2026, all sold indirectly through Continental Grain Company, leaving 417,300 shares held indirectly after the transactions.