UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Lauder, Ronald S.
The Estee Lauder Companies Inc.
767 Fifth Avenue
New York, NY 10153
2. Issuer Name and Ticker or Trading Symbol
The Estee Lauder Companies Inc.
EL
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
11/12/1997
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director (X) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Chairman of Clinique Laboratories, Inc. and Estee Lauder International, Inc.
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Class A Common Stock |11/1/1|S | |1,237,694 |D |$44.4375 | | | |
|997 | | | | | | | | |
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Class A Common Stock |11/1/1|J (1| |168,777 |D | | | | |
|997 |) | | | | | | | |
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Class A Common Stock |11/1/1|J (2| |168,777 |D | |11,169,502 (3,4) |D | |
|997 |) | | | | | | | |
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Class A Common Stock | | | | | | |1,591 (4) |I |By Descen. of RSL 1966 Trus|
| | | | | | | | |t (5,6) |
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Class A Common Stock |11/1/1|P (7| |3,150,495 |A |$44.4375 | |I |By Estee Lauder 1994 Trust |
|997 |) | | | | | | |(5,8) |
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Class A Common Stock |11/12/|J (9| |5,500,000 |D | |5,405,548 (4) |I |By Estee Lauder 1994 Trust |
|1997 |) | | | | | | |(5,8) |
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Class A Common Stock | | | | | | |7,692 (4) |I |By Lauder & Sons L.P. (5,10|
| | | | | | | | |) |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Class B Common Stock |1:1 |11/1/|J (1| |168,777 |A |Immed|NA |Class A Comm|168,777|NA | |D | |
| |1997 |) | | | |. | |on Stock | | | | | |
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Class B Common Stock |1:1 |11/1/|J (2| |168,777 |A |Immed|NA |Class A Comm|168,777|NA |18,769,415(4|D | |
| |1997 |) | | | |. | |on Stock | | |) | | |
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Class B Common Stock |1:1 | | | | | |Immed|NA |Class A Comm|1,591 |NA |1,591 (4) |I |By Descen. o|
| | | | | | |. | |on Stock | | | | |f RSL 1966 T|
| | | | | | | | | | | | | |rust (5,6) |
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Class B Common Stock |1:1 | | | | | |Immed|NA |Class A Comm|6,094,9|NA |6,094,926(4)|I |By Estee Lau|
| | | | | | |. | |on Stock |26 | | | |der 1994 Tru|
| | | | | | | | | | | | | |st (5,8) |
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Class B Common Stock |1:1 | | | | | |Immed|NA |Class A Comm|1,923,0|NA |1,923,077(4)|I |By Lauder & |
| | | | | | |. | |on Stock |77 | | | |Sons L.P. (5|
| | | | | | | | | | | | | |,10) |
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Put Option (obligation|1:1 |11/1/|P (1| |337,554 |A |Immed|6/30/|Class A Comm|337,554|(11) |937,554 (4) |D | |
to acquire Class A Co| |1997 |1) | | | |. |2000 |on Stock | | | | | |
mmon Stock) | | | | | | | | | | | | | | |
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Call Option (obligatio|1:1 |11/1/|S (1| |337,554 |D |Immed|6/30/|Class B Comm|337,554|(11) |937,554 (4) |D | |
n to sell Class B Comm| |1997 |1) | | | |. |2000 |on Stock | | | | | |
on Stock) | | | | | | | | | | | | | | |
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Call Option (right to |1:1 |11/1/|P (1| |337,554 |A |Immed|6/30/|Class A Comm|337,554|(11) |937,554 (4) |D | |
acquire Class A Common| |1997 |1) | | | |. |2000 |on Stock | | | | | |
Stock) | | | | | | | | | | | | | | |
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Put Option (right to s|1:1 |11/1/|S (1| |337,554 |D |Immed|6/30/|Class B Comm|337,554|(11) |937,554 (4) |D | |
ell Class B Common Sto| |1997 |1) | | | |. |2000 |on Stock | | | | | |
ck) | | | | | | | | | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
1. The Reporting Person exchanged 168,777 shares of Class A Common Stock for
168,777 shares of Class B
Common Stock held by his daughter, Aerin Lauder Zinterhofer.
2. The Reporting Person exchanged 168,777 shares of Class A Common Stock for
168,777 shares of Class B
Common Stock held by his daughter, Jane Lauder.
3. The Reporting Person has a short position of 8,333,333 shares of Class A
Common Stock established prior to
the Issuer's initial public
offering.
4. The amount of securities reported as beneficially owned at the end of the
month actually reflects securities so
owned at November 25, 1997. If such amount is different than the amount
beneficially owned at November 30,
1997, the Reporting Person will amend his
filing.
5. The Reporting Person disclaims beneficial ownership to the extent he does
not have a pecuniary interest in
such securities.
6. The Reporting Person is the trustee of The Descendants of Ronald S. Lauder
1966 Trust.
7. On November 1, 1997, The Estee Lauder 1994 Trust acquired and aggregate of
3,150,495 shares of Class A
Common Stock from members of the Lauder family and LAL Family Partners L.P.,
including the 1,237,694 shares
sold by the Reporting Person and reported on the front of this Form 4. See the
Form 4 filed by The Estee Lauder
1994 Trust for additional details.
8. The Reporting Person is co-Trustee and beneficiary of The Estee Lauder 1994
Trust.
9. On November 12, 1997, The Estee Lauder 1994 Trust closed the short position
of 5,500,000 shares of Class A
Common Stock that was established prior to the Issuer's initial public offering
by delivering 5,500,000 shares to
Leonard A. Lauder in a transaction exempt from Section 16(b) of the Securities
Exchange Act of 1934.
10. The Reporting Person is a general partner of Lauder & Sons L.P. The
Reporting Person is also a Trustee of
The 1995 Estee Lauder RSL Trust, which is also a general partner of Lauder &
Sons L.P.
11. The Reporting Person granted an option to acquire an aggregate of up to
337,554 shares of Class B Common
Stock for a like number of shares of Class A Common Stock to Richard D.
Parsons, as Trustee of the Trust f/b/o
Aerin Lauder and Jane Lauder u/a/d December 15, 1976, created by Estee and
Joseph H. Lauder, as grantors
(the "AL/JL Trust"), in exchange for the granting by the AL/JL Trust to the
Reporting Person of an option to
acquire an aggregate of up to 337,554 shares of Class A Common Stock for a like
number of shares of Class B
Common Stock. To the extent either the Reporting Person or the AL/JL Trust
exercise the options he or it
received, the number of shares which may be acquired upon the exercise of the
other party's corresponding
options is reduced on a share-for-share basis.
SIGNATURE OF REPORTING PERSON
Ronald S. Lauder
DATE
11/25/97
