LAL Family Corp. Reports 0 Sole Voting Shares in Estée Lauder

TL;DR

**LAL Family Corp. now holds zero sole voting shares in Estée Lauder, a big change!**

AI Summary

LAL Family Corporation, a Delaware entity, filed an amended SC 13G/A on February 12, 2024, indicating a change in their beneficial ownership of Estée Lauder Companies Inc. Class A Common Stock as of December 31, 2023. This amendment, number 18, shows that LAL Family Corporation now holds 0 shares with sole voting power, a significant change from previous filings. This matters to investors because it suggests a complete divestment or a restructuring of their direct voting control over Estée Lauder shares, potentially impacting future governance or control dynamics.

Why It Matters

This filing indicates a major shift in voting power for LAL Family Corporation regarding Estée Lauder, potentially signaling a reduced influence in company decisions or a change in their investment strategy.

Risk Assessment

Risk Level: medium — The change in voting power could signal internal family dynamics or a strategic shift, which might introduce uncertainty for other shareholders.

Analyst Insight

Investors should monitor future filings from other Estée Lauder family entities to understand where the voting power previously held by LAL Family Corporation has shifted, as this could impact long-term control and strategic direction.

Key Numbers

• 0 — Shares with Sole Voting Power (LAL Family Corporation's current sole voting power over Estée Lauder Class A Common Stock)
• 18 — Amendment Number (This is the 18th amendment to the SC 13G filing by LAL Family Corporation)

Key Players & Entities

• LAL Family Corporation (company) — the reporting person filing the SC 13G/A
• Estée Lauder Companies Inc. (company) — the subject company whose Class A Common Stock is being reported
• Delaware (company) — place of organization for LAL Family Corporation
• December 31, 2023 (date) — date of event requiring the filing
• February 12, 2024 (date) — date the SC 13G/A was filed

Forward-Looking Statements

• LAL Family Corporation's influence on Estée Lauder's corporate governance will decrease due to the reported zero sole voting shares. (LAL Family Corporation) — high confidence, target: Ongoing
• Other family entities or trusts may now hold the voting power previously attributed to LAL Family Corporation, suggesting a restructuring of family holdings. (Estée Lauder Companies Inc.) — medium confidence, target: Ongoing

FAQ

Key Financial Figures

• $0.01 — ssuer) Class A Common Stock, par value $0.01 per share (Title of Class of Securitie

Filing Documents

• ef20021194_sc13ga.htm (SC 13G/A) — 57KB
• 0001140361-24-007045.txt ( ) — 58KB

(a)

Item 1(a). Name of Issuer: The Este Lauder Companies Inc. (the "Issuer")

(b)

Item 1(b). Address of Issuer's Principal Executive Offices 767 Fifth Avenue New York, NY 10153

(a)

Item 2 (a) Name of Person Filing: LAL Family Corporation (the "Reporting Person")

(b)

Item 2 (b) Address of Principal Business Office or, if none, Residence: 767 Fifth Avenue New York, NY 10153

(c)

Item 2 (c) Citizenship: Delaware corporation

(d)

Item 2 (d) Title of Class of Securities: Class A Common Stock, par value $0.01 per share ("Class A Common Stock")

(e)

Item 2 (e) CUSIP Number: 518439 10 4 Item 3. Not applicable Item 4. Ownership (a) As of December 31, 2023, the Reporting Person beneficially owned 80,437,628 shares of Class A Common Stock as follows: 0 shares of Class A Common Stock and 80,437,628 shares of Class B Common Stock, par value $.01 per share, of the Issuer ("Class B Common Stock"), in each case, held indirectly as the sole general partner of LAL Family Partners L.P. ("LALFP"), which owns the shares directly. 3 (b) Each share of Class B Common Stock is convertible at the option of the holder into one share of Class A Common Stock and is automatically converted into one share of Class A Common Stock upon transfer to a person who is not a Permitted Transferee, as that term is defined in the Issuer's Restated Certificate of Incorporation. Assuming conversion of all such shares of Class B Common Stock beneficially owned by the Reporting Person, the Reporting Person would beneficially own 80,437,628 shares of Class A Common Stock as of December 31, 2023, which would constitute approximately 25.7% of the number of shares of Class A Common Stock outstanding (based on the number of shares of Class A Common Stock outstanding as of January 29, 2024, as set forth in the Issuer's Form 10-Q filed on February 5, 2024). Each share of Class A Common Stock entitles the holder to one vote on each matter submitted to a vote of the Issuer's stockholders and each share of Class B Common Stock entitles the holder to ten votes on each such matter, including the election of directors of the Issuer. Assuming no conversion of any of the outstanding shares of Class B Common Stock, the 0 shares of Class A Common Stock and the 80,437,628 shares of Class B Common Stock for which the Reporting Person has voting power as of December 31, 2023, constitute approximately 54.0% of the aggregate voting power of the Issuer (based on the number of shares of Class A Common Stock and Class B Common Stock outstanding as of Janua