================================================================================
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
SEPTEMBER 12, 2006
THE ESTEE LAUDER COMPANIES INC.
(Exact name of registrant as specified in its charter)
DELAWARE 1-14064 11-2408943
(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) Identification No.)
767 FIFTH AVENUE, NEW YORK, NEW YORK 10153
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code
212-572-4200
NOT APPLICABLE
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[_] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
================================================================================
Item 1.01 Entry into a Material Definitive Agreement
On September 6, 2006, the Company's Compensation Committee approved
the payment of cash bonuses for the fiscal year ended June 30, 2006, to the
Company's named executive officers pursuant to the Company's Executive Annual
Incentive Plan in the following amounts:
Named Executive Officer Fiscal 2006 Bonus Amount
-----------------------------------------------------------------------
Leonard A. Lauder 1,369,000
William P. Lauder 1,521,100
Daniel J. Brestle 1,445,000
Patrick Bousquet-Chavanne 1,048,900
Philip Shearer 1,003,000
Bonuses for Leonard A. Lauder (Chairman), William P. Lauder (President
and Chief Executive Officer) and Daniel J. Brestle (Chief Operating Officer)
were based on the levels of achievement of net sales and earnings per share
targets by the Company in fiscal 2006. The bonuses for Patrick Bousquet-Chavanne
(Group President) and Philip Shearer (Group President) were based on the levels
of achievement of the net sales and earnings per share targets by the Company in
fiscal 2006 and levels of achievement of full-year goals for their respective
groups at the start of fiscal 2006, including net sales for the group (measured
by overall net sales and by retail sell-through in the United States), operating
margin, expense control, working capital relating to inventory and planning
accuracy.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
THE ESTEE LAUDER COMPANIES INC.
Date: September 12, 2006
By: /s/ Amy DiGeso
---------------------------------
Amy DiGeso
Executive Vice President - Global
Human Resources