Statement of Changes in Beneficial Ownership (4)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^* Trower Alexandra C.	2. Issuer Name and Ticker or Trading Symbol ESTEE LAUDER COMPANIES INC [ EL ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) EVP - Global Communications
(Last) (First) (Middle) THE ESTEE LAUDER COMPANIES INC., 767 FIFTH AVENUE	3. Date of Earliest Transaction (MM/DD/YYYY) 9/3/2020
(Street) NEW YORK, NY 10153 (City) (State) (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	9/3/2020		S		1260	D	$221.8	7709	I	Through a revocable trust for the Reporting Person.
Class A Common Stock	9/3/2020		S		100	D	$221.81	7609	I	Through a revocable trust for the Reporting Person.
Class A Common Stock	9/3/2020		A⁽¹⁾		6751 ⁽¹⁾	A	$0	6751	D
Class A Common Stock	9/3/2020		F⁽²⁾		2924	D	$219.8	3827	D
Class A Common Stock	9/4/2020		M		8726	A	$89.47 ⁽³⁾	12553	D
Class A Common Stock	9/4/2020		M		7499	A	$107.95 ⁽⁴⁾	20052	D
Class A Common Stock	9/4/2020		M		5203	A	$138.15 ⁽⁵⁾	25255	D
Class A Common Stock	9/4/2020		S		1256 ⁽⁶⁾	D	$213.07 ⁽⁶⁾⁽⁷⁾	23999	D
Class A Common Stock	9/4/2020		S		5659 ⁽⁶⁾	D	$214.01 ⁽⁶⁾⁽⁸⁾	18340	D
Class A Common Stock	9/4/2020		S		2602 ⁽⁶⁾	D	$215.14 ⁽⁶⁾⁽⁹⁾	15738	D
Class A Common Stock	9/4/2020		S		8413 ⁽⁶⁾	D	$215.99 ⁽⁶⁾⁽¹⁰⁾	7325	D
Class A Common Stock	9/4/2020		S		2405 ⁽⁶⁾	D	$217.12 ⁽⁶⁾⁽¹¹⁾	4920	D
Class A Common Stock	9/4/2020		S		600 ⁽⁶⁾	D	$217.96 ⁽⁶⁾⁽¹²⁾	4320	D
Class A Common Stock	9/4/2020		S		493	D	$218.79	3827	D

*Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)*
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)
Option (Right to Buy)	$218.06	9/3/2020		A		14714 ⁽¹³⁾		⁽¹³⁾	9/3/2030	Class A Common Stock	14714	$0 ⁽¹⁴⁾	14714	D
Restricted Stock Units (Share Payout)	$0 ⁽¹⁴⁾	9/3/2020		A		3921 ⁽¹⁵⁾		⁽¹⁵⁾	⁽¹⁵⁾	Class A Common Stock	3921	$0 ⁽¹⁴⁾	3921	D
Option (Right to Buy)	$89.47 ⁽³⁾	9/4/2020		M			8726	⁽³⁾	9/6/2026	Class A Common Stock	8726	$0 ⁽¹⁴⁾	0	D
Option (Right to Buy)	$107.95 ⁽⁴⁾	9/4/2020		M			7499	⁽⁴⁾	9/5/2027	Class A Common Stock	7499	$0 ⁽¹⁴⁾	7499	D
Option (Right to Buy)	$138.15 ⁽⁵⁾	9/4/2020		M			5203	⁽⁵⁾	9/4/2028	Class A Common Stock	5203	$0 ⁽¹⁴⁾	10406	D

Explanation of Responses:
(1)	Reflects payout of Performance Share Units ("PSUs") granted to Reporting Person on September 5, 2017.
(2)	Represents the withholding of shares for tax purposes in connection with the payout of the PSUs.
(3)	Stock Options granted pursuant to Fiscal 2002 Share Incentive Plan in respect of 8,726 shares exercisable from and after January 1, 2018; 8,726 shares exercisable from and after January 1, 2019; 8,726 shares exercisable from and after January 1, 2020.
(4)	Stock options granted pursuant to Fiscal 2002 Share Incentive Plan in respect of 7,498 shares exercisable from and after January 1, 2019; 7,499 shares exercisable from and after January 1, 2020; and 7,499 shares exercisable from and after January 1, 2021.
(5)	Stock Options granted pursuant to Fiscal 2002 Share Incentive Plan in respect of 5,203 shares exercisable from and after January 1, 2020; 5,203 shares exercisable from and after January 1, 2021; and 5,203 shares exercisable from and after January 1, 2022.
(6)	The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices. The price reported represents the weighted average price. The Reporting Person undertakes to provide to the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
(7)	Sales prices range from $212.47 to $213.44 per share, inclusive.
(8)	Sales prices range from $213.49 to $214.48 per share, inclusive.
(9)	Sales prices range from $214.52 to $215.49 per share, inclusive.
(10)	Sales prices range from $215.52 to $216.45 per share, inclusive.
(11)	Sales prices range from $216.55 to $217.49 per share, inclusive.
(12)	Sales prices range from $217.62 to $218.38 per share, inclusive.
(13)	Stock options granted pursuant to Fiscal 2002 Share Incentive Plan in respect of 4,904 shares exercisable from and after January 1, 2022; 4,905 shares exercisable from and after January 1, 2023; and 4,905 shares exercisable from and after January 1, 2024.
(14)	Not applicable.
(15)	Assuming continued employment, these Restricted Stock Units ("RSUs") will vest and be paid out as follows: 1,306 on November 1, 2021; 1,307 on November 1, 2022; and 1,308 on November 1, 2023. RSUs vest and are paid out in shares of Class A Common Stock on a one-to-one basis on the applicable vesting date. Upon payout, shares will be withheld to cover statutory tax obligations. RSUs are accompanied by dividend equivalent rights that will be payable in cash at the time of payout of the related shares.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Trower Alexandra C. THE ESTEE LAUDER COMPANIES INC. 767 FIFTH AVENUE NEW YORK, NY 10153			EVP - Global Communications