Trusts affiliated to Leonard A. Lauder’s descendants plan to sell 11.3 million shares of Estée Lauder’s Class A Common Stock in a registered secondary offering. The selling stockholders will receive all of the proceeds from the offering, intended to help settle Leonard A. Lauder’s estate, including taxes and administrative costs.Following the offering, the Lauder family will retain directly or indirectly 82% of the outstanding voting power of the company's common stock. The selling stockholders and LAL Family Partners, L.P., an entity beneficially owned by descendants of Leonard A. Lauder, will be subject to a 90-day lock-up agreement with the underwriter.The sale reflects an estate-related rebalancing of family holdings rather than a shift in corporate control, underscoring the family’s continued dominance over the beauty conglomerate's governance.