SCHEDULE 13G/A: Estee Lauder: Richard D. Parsons' Estate Files Schedule 13G Amendment Following Death and Trustee Change
Beneficial Ownership Disclosure
An amendment to Schedule 13G has been filed for The Estee Lauder Companies Inc., disclosing changes in beneficial ownership by Richard D. Parsons' estate due to his passing and a trustee change.
Summary
- This is Amendment No. 28 to Schedule 13G filed by the estate of Richard D. Parsons regarding his beneficial ownership of Class A Common Stock of The Estee Lauder Companies Inc.
- The amendment is filed due to two primary events: a change in trustee for the Aerin Lauder Zinterhofer 2000 Revocable Trust effective December 7, 2024, and the death of Mr. Parsons on December 26, 2024.
- As a result of these events, Mr. Parsons' estate no longer has indirect beneficial ownership of Class A or Class B Common Stock held by The Parsons Family Foundation, The 4202 Trust, or the Rebecca L. Parsons 2012 Trust.
- As of December 31, 2024, the Reporting Person (Richard D. Parsons' estate) beneficially owned 23,027 shares of Class A Common Stock.
- This beneficial ownership comprises 8,065 shares issuable from exercisable options and 14,962 stock units that will be paid out in Class A Common Stock on the first business day of January 2025.
- The 23,027 shares represent 0% of the aggregate voting power of The Estee Lauder Companies Inc.
Sentiment
Score: 5
Explanation: The document is a neutral, factual disclosure of changes in beneficial ownership due to specific life events, not related to the company's operational performance or strategic direction.
Future Outlook
The document indicates that 14,962 stock units held by the Reporting Person will be paid out in shares of Class A Common Stock on the first business day of January 2025.
Industry Context
This filing is a routine disclosure of changes in beneficial ownership and does not provide information related to broader industry trends or competitive landscape for The Estee Lauder Companies Inc.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Trustee for Aerin Lauder Zinterhofer 2000 Revocable Trust | Richard D. Parsons | Aerin Lauder Zinterhofer | December 7, 2024 | Replacement of trustee. |
| Indirect Beneficial Owner (via certain trusts) | Richard D. Parsons | N/A | December 26, 2024 | Cessation of indirect beneficial ownership due to the death of Mr. Parsons. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Stockholders' Agreement Party | Richard D. Parsons is no longer a party to the Stockholders' Agreement dated November 22, 1995, as amended, among the parties listed on Exhibit A, due to his cessation as trustee for the Aerin Lauder Zinterhofer 2000 Revocable Trust. | December 7, 2024 | This change removes Mr. Parsons from the Stockholders' Agreement, potentially altering the dynamics among the remaining parties to the agreement, though the direct impact on the company's overall governance or control is likely minimal given the reported 0% beneficial ownership by his estate. |
Related Party Transactions
- The document notes that as a result of Mr. Parsons' death, his estate no longer has indirect beneficial ownership of Class A or Class B Common Stock held by The Parsons Family Foundation, The 4202 Trust, or the Rebecca L. Parsons 2012 Trust. These trusts are related to the reporting person.
Stakeholder Impact
- Shareholders: Minimal direct impact as the change in beneficial ownership represents 0% of the company's voting power.
- Employees, Customers, Suppliers, Creditors: No direct impact indicated by this filing, as it pertains solely to beneficial ownership disclosure.
Next Steps
- Payout of 14,962 stock units in shares of Class A Common Stock on the first business day of January 2025.
Key Dates
| Date | Description |
|---|---|
| December 7, 2024 | Aerin Lauder Zinterhofer replaced Richard D. Parsons as sole trustee for the Aerin Lauder Zinterhofer 2000 Revocable Trust, leading to Mr. Parsons no longer being a party to the Stockholders' Agreement. |
| December 26, 2024 | Date of death of Mr. Richard D. Parsons, resulting in his estate no longer having indirect beneficial ownership of certain shares. |
| December 31, 2024 | Date of event which requires filing of this statement, reflecting the beneficial ownership as of this date. |
| January 2025 (first business day) | Date when 14,962 stock units will be paid out in shares of Class A Common Stock. |
| February 3, 2025 | Date the Schedule 13G Amendment No. 28 was signed by the Nominated Executor of the Estate of Richard D. Parsons. |
Keywords
Estee Lauder Companies Inc., Schedule 13G, beneficial ownership, Class A Common Stock, Richard D. Parsons, estate, trustee change, SEC filing
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