[Form 4] COTY INC Insider Trading Activity
COTY INC. insiders JAB Holdings B.V., Agnaten SE and Lucresca SE reported changes in beneficial ownership related to Class A common stock. The filing shows an indirect beneficial ownership position of 451,853,684 Class A shares held through JAB Beauty B.V. On 07/31/2025 a long cash-settled total return swap with BNP Paribas expired and was cash-settled for a notional 5,000,000 shares. The filing discloses that JAB Holdings B.V. is party to multiple long cash-settled total return swaps with several banks (Banco Santander, BNP Paribas, Credit Agricole CIB and Societe Generale) establishing long economic exposure to shares but not granting voting, investment or dispositive control. Each reporting person disclaims beneficial ownership except for pecuniary interest. The form is signed by authorized representatives on 08/19/2025.
COTY INC. gli insider JAB Holdings B.V., Agnaten SE e Lucresca SE hanno segnalato cambiamenti nella propriet脿 effettiva relativi alle azioni ordinarie di Classe A. La comunicazione indica una partecipazione indiretta di 451,853,684 azioni di Classe A detenute tramite JAB Beauty B.V. In data 07/31/2025 un total return swap long regolato in contanti con BNP Paribas 猫 scaduto ed 猫 stato liquidato in contanti per un nozionale di 5,000,000 azioni. Il documento dichiara che JAB Holdings B.V. 猫 parte di pi霉 total return swap long regolati in contanti con varie banche (Banco Santander, BNP Paribas, Credit Agricole CIB e Societe Generale), che conferiscono un鈥檈sposizione economica long sulle azioni ma non attribuiscono diritti di voto, n茅 controllo sugli investimenti o sulla disposizione. Ogni soggetto che segnala rinuncia alla qualifica di proprietario effettivo, fatta eccezione per un interesse pecuniario. Il modulo 猫 firmato dai rappresentanti autorizzati in data 08/19/2025.
COTY INC. los insiders JAB Holdings B.V., Agnaten SE y Lucresca SE informaron cambios en la propiedad beneficiaria relacionados con acciones ordinarias Clase A. El registro muestra una posici贸n de propiedad beneficiaria indirecta de 451,853,684 acciones Clase A mantenidas a trav茅s de JAB Beauty B.V. El 07/31/2025 venci贸 y se liquid贸 en efectivo un total return swap long liquidable en efectivo con BNP Paribas por un nocional de 5,000,000 acciones. El documento revela que JAB Holdings B.V. participa en varios total return swaps long liquidables en efectivo con varios bancos (Banco Santander, BNP Paribas, Credit Agricole CIB y Societe Generale), que generan exposici贸n econ贸mica larga sobre las acciones pero no otorgan derechos de voto, ni control sobre la inversi贸n o disposici贸n. Cada persona que presenta la informaci贸n niega la condici贸n de propietario beneficiario, salvo por un inter茅s pecuniario. El formulario est谩 firmado por representantes autorizados el 08/19/2025.
COTY INC.鞚� 雮措秬鞛� JAB Holdings B.V., Agnaten SE 氚� Lucresca SE臧� 韥措灅鞀� A 氤错喌欤检棎 雽�頃� 鞁れ唽鞙犼秾 氤�霃欖潉 鞁犼碃頄堨姷雼堧嫟. 鞝滌稖靹滊鞐愲姅 JAB Beauty B.V.毳� 韱淀暣 氤挫湢頃� 451,853,684欤检潣 韥措灅鞀� A 欤检嫕鞐� 雽�頃� 臧勳爲 鞁れ唽鞙犼秾鞚� 旮办灛霅橃柎 鞛堨姷雼堧嫟. 07/31/2025鞐� BNP Paribas鞕�鞚� 順勱笀瓴办牅順� 搿� 韱犿儓毽劥鞀れ檻鞚� 毵岅赴霅橃柎 氇呺靸� 5,000,000欤检棎 雽�頃� 順勱笀鞙茧 鞝曥偘霅橃棃鞀惦媹雼�. 靹滊電� JAB Holdings B.V.臧� 鞐煬 鞚�頄�(鞚�頄� 靷绊儎雿半ゴ, BNP Paribas, Cr茅dit Agricole CIB, Soci茅t茅 G茅n茅rale)瓿� 雼れ垬鞚� 順勱笀瓴办牅順� 搿� 韱犿儓毽劥鞀れ檻 瓿勳暯鞚� 觳搓舶頃� 欤检嫕鞐� 雽�頃� 瓴届牅鞝� 搿� 鞚奠姢韽爛毳� 氤挫湢頃橃毵� 鞚橁舶甓�, 韴瀽 霕愲姅 觳橂秳 甓岉暅鞚� 攵�鞐晿歆� 鞎婋姅雼り碃 氚濏瀳瓿� 鞛堨姷雼堧嫟. 臧� 氤搓碃鞛愲姅 旮堨爠鞝� 鞚挫澋鞚� 鞝滌櫢頃� 鞁れ唽鞙犼秾鞚� 攵�鞚疙暕雼堧嫟. 鞏戩嫕鞚� 08/19/2025鞐� 甓岉暅 鞛堧姅 雽�毽澑霌れ澊 靹滊獏頄堨姷雼堧嫟.
COTY INC. les initi茅s JAB Holdings B.V., Agnaten SE et Lucresca SE ont d茅clar茅 des changements de propri茅t茅 b茅n茅ficiaire concernant les actions ordinaires de cat茅gorie A. Le dossier indique une position de propri茅t茅 b茅n茅ficiaire indirecte de 451,853,684 actions de cat茅gorie A d茅tenues via JAB Beauty B.V. Le 07/31/2025, un total return swap long r茅gl茅 en esp猫ces avec BNP Paribas est arriv茅 脿 茅ch茅ance et a 茅t茅 r茅gl茅 en esp猫ces pour un notionnel de 5,000,000 actions. Le d茅p么t pr茅cise que JAB Holdings B.V. est partie 脿 plusieurs total return swaps longs r茅gl茅s en esp猫ces avec plusieurs banques (Banco Santander, BNP Paribas, Cr茅dit Agricole CIB et Soci茅t茅 G茅n茅rale), 茅tablissant une exposition 茅conomique longue sur les actions sans accorder de droit de vote, ni de contr么le en mati猫re d'investissement ou de disposition. Chaque d茅clarant d茅cline la qualit茅 de propri茅taire b茅n茅ficiaire, 脿 l'exception d'un int茅r锚t p茅cuniaire. Le formulaire est sign茅 par des repr茅sentants autoris茅s le 08/19/2025.
COTY INC. Insider JAB Holdings B.V., Agnaten SE und Lucresca SE meldeten 脛nderungen der wirtschaftlichen Eigentumsverh盲ltnisse in Bezug auf Stammaktien der Klasse A. Die Einreichung zeigt eine indirekte wirtschaftliche Beteiligung von 451,853,684 Klasse-A-Aktien, die 眉ber JAB Beauty B.V. gehalten werden. Am 07/31/2025 lief ein in bar abgewickelter Long-Total-Return-Swap mit BNP Paribas aus und wurde f眉r ein Nominal von 5,000,000 Aktien in bar abgerechnet. Die Meldung gibt an, dass JAB Holdings B.V. Partei mehrerer in bar abgewickelter Long-Total-Return-Swaps mit mehreren Banken (Banco Santander, BNP Paribas, Cr茅dit Agricole CIB und Soci茅t茅 G茅n茅rale) ist, die eine wirtschaftliche Long-Position an den Aktien begr眉nden, jedoch keine Stimm-, Investitions- oder Verf眉gungsbefugnis verleihen. Jeder meldende Beteiligte verneint das beneficial ownership mit Ausnahme eines pecuni盲ren Interesses. Das Formular wurde von bevollm盲chtigten Vertretern am 08/19/2025 unterzeichnet.
- Transparent disclosure of a large indirect position of 451,853,684 Class A shares
- Specific disclosure that a long swap for 5,000,000 shares expired and was cash-settled on 07/31/2025
- None.
Insights
TL;DR: Large indirect stake disclosed; swap expiration reduced notional economic exposure by 5,000,000 shares but voting control remains disclaimed.
The filing documents that JAB-related entities hold an indirect position of 451,853,684 Class A shares through a subsidiary, while using cash-settled total return swaps to obtain or manage economic exposure. The expiration and cash settlement of a 5,000,000-share notional swap with BNP Paribas reduces the swap-linked exposure by that amount. Crucially, the swaps are cash-settled and do not transfer voting or dispositive control to the reporting entities; this affects how ownership is treated under Section 16 and for shareholder voting calculations. The explicit disclaimer of beneficial ownership except for pecuniary interest is standard but important for governance and proxy considerations.
TL;DR: Disclosure clarifies economic exposure versus legal ownership; no new direct voting control reported.
The report confirms that economic exposure to Coty common stock is mediated via long total return swaps held by JAB Holdings B.V. with several banks. The filing explicitly states these swaps do not convey voting or dispositive control, which is material for governance assessment because large economic stakes that lack voting power differ in influence from direct holdings. The formal disclaimers and the signatures dated 08/19/2025 provide the required Section 16 transparency but do not indicate any acquisition of direct voting shares in this filing.
COTY INC. gli insider JAB Holdings B.V., Agnaten SE e Lucresca SE hanno segnalato cambiamenti nella propriet脿 effettiva relativi alle azioni ordinarie di Classe A. La comunicazione indica una partecipazione indiretta di 451,853,684 azioni di Classe A detenute tramite JAB Beauty B.V. In data 07/31/2025 un total return swap long regolato in contanti con BNP Paribas 猫 scaduto ed 猫 stato liquidato in contanti per un nozionale di 5,000,000 azioni. Il documento dichiara che JAB Holdings B.V. 猫 parte di pi霉 total return swap long regolati in contanti con varie banche (Banco Santander, BNP Paribas, Credit Agricole CIB e Societe Generale), che conferiscono un鈥檈sposizione economica long sulle azioni ma non attribuiscono diritti di voto, n茅 controllo sugli investimenti o sulla disposizione. Ogni soggetto che segnala rinuncia alla qualifica di proprietario effettivo, fatta eccezione per un interesse pecuniario. Il modulo 猫 firmato dai rappresentanti autorizzati in data 08/19/2025.
COTY INC. los insiders JAB Holdings B.V., Agnaten SE y Lucresca SE informaron cambios en la propiedad beneficiaria relacionados con acciones ordinarias Clase A. El registro muestra una posici贸n de propiedad beneficiaria indirecta de 451,853,684 acciones Clase A mantenidas a trav茅s de JAB Beauty B.V. El 07/31/2025 venci贸 y se liquid贸 en efectivo un total return swap long liquidable en efectivo con BNP Paribas por un nocional de 5,000,000 acciones. El documento revela que JAB Holdings B.V. participa en varios total return swaps long liquidables en efectivo con varios bancos (Banco Santander, BNP Paribas, Credit Agricole CIB y Societe Generale), que generan exposici贸n econ贸mica larga sobre las acciones pero no otorgan derechos de voto, ni control sobre la inversi贸n o disposici贸n. Cada persona que presenta la informaci贸n niega la condici贸n de propietario beneficiario, salvo por un inter茅s pecuniario. El formulario est谩 firmado por representantes autorizados el 08/19/2025.
COTY INC.鞚� 雮措秬鞛� JAB Holdings B.V., Agnaten SE 氚� Lucresca SE臧� 韥措灅鞀� A 氤错喌欤检棎 雽�頃� 鞁れ唽鞙犼秾 氤�霃欖潉 鞁犼碃頄堨姷雼堧嫟. 鞝滌稖靹滊鞐愲姅 JAB Beauty B.V.毳� 韱淀暣 氤挫湢頃� 451,853,684欤检潣 韥措灅鞀� A 欤检嫕鞐� 雽�頃� 臧勳爲 鞁れ唽鞙犼秾鞚� 旮办灛霅橃柎 鞛堨姷雼堧嫟. 07/31/2025鞐� BNP Paribas鞕�鞚� 順勱笀瓴办牅順� 搿� 韱犿儓毽劥鞀れ檻鞚� 毵岅赴霅橃柎 氇呺靸� 5,000,000欤检棎 雽�頃� 順勱笀鞙茧 鞝曥偘霅橃棃鞀惦媹雼�. 靹滊電� JAB Holdings B.V.臧� 鞐煬 鞚�頄�(鞚�頄� 靷绊儎雿半ゴ, BNP Paribas, Cr茅dit Agricole CIB, Soci茅t茅 G茅n茅rale)瓿� 雼れ垬鞚� 順勱笀瓴办牅順� 搿� 韱犿儓毽劥鞀れ檻 瓿勳暯鞚� 觳搓舶頃� 欤检嫕鞐� 雽�頃� 瓴届牅鞝� 搿� 鞚奠姢韽爛毳� 氤挫湢頃橃毵� 鞚橁舶甓�, 韴瀽 霕愲姅 觳橂秳 甓岉暅鞚� 攵�鞐晿歆� 鞎婋姅雼り碃 氚濏瀳瓿� 鞛堨姷雼堧嫟. 臧� 氤搓碃鞛愲姅 旮堨爠鞝� 鞚挫澋鞚� 鞝滌櫢頃� 鞁れ唽鞙犼秾鞚� 攵�鞚疙暕雼堧嫟. 鞏戩嫕鞚� 08/19/2025鞐� 甓岉暅 鞛堧姅 雽�毽澑霌れ澊 靹滊獏頄堨姷雼堧嫟.
COTY INC. les initi茅s JAB Holdings B.V., Agnaten SE et Lucresca SE ont d茅clar茅 des changements de propri茅t茅 b茅n茅ficiaire concernant les actions ordinaires de cat茅gorie A. Le dossier indique une position de propri茅t茅 b茅n茅ficiaire indirecte de 451,853,684 actions de cat茅gorie A d茅tenues via JAB Beauty B.V. Le 07/31/2025, un total return swap long r茅gl茅 en esp猫ces avec BNP Paribas est arriv茅 脿 茅ch茅ance et a 茅t茅 r茅gl茅 en esp猫ces pour un notionnel de 5,000,000 actions. Le d茅p么t pr茅cise que JAB Holdings B.V. est partie 脿 plusieurs total return swaps longs r茅gl茅s en esp猫ces avec plusieurs banques (Banco Santander, BNP Paribas, Cr茅dit Agricole CIB et Soci茅t茅 G茅n茅rale), 茅tablissant une exposition 茅conomique longue sur les actions sans accorder de droit de vote, ni de contr么le en mati猫re d'investissement ou de disposition. Chaque d茅clarant d茅cline la qualit茅 de propri茅taire b茅n茅ficiaire, 脿 l'exception d'un int茅r锚t p茅cuniaire. Le formulaire est sign茅 par des repr茅sentants autoris茅s le 08/19/2025.
COTY INC. Insider JAB Holdings B.V., Agnaten SE und Lucresca SE meldeten 脛nderungen der wirtschaftlichen Eigentumsverh盲ltnisse in Bezug auf Stammaktien der Klasse A. Die Einreichung zeigt eine indirekte wirtschaftliche Beteiligung von 451,853,684 Klasse-A-Aktien, die 眉ber JAB Beauty B.V. gehalten werden. Am 07/31/2025 lief ein in bar abgewickelter Long-Total-Return-Swap mit BNP Paribas aus und wurde f眉r ein Nominal von 5,000,000 Aktien in bar abgerechnet. Die Meldung gibt an, dass JAB Holdings B.V. Partei mehrerer in bar abgewickelter Long-Total-Return-Swaps mit mehreren Banken (Banco Santander, BNP Paribas, Cr茅dit Agricole CIB und Soci茅t茅 G茅n茅rale) ist, die eine wirtschaftliche Long-Position an den Aktien begr眉nden, jedoch keine Stimm-, Investitions- oder Verf眉gungsbefugnis verleihen. Jeder meldende Beteiligte verneint das beneficial ownership mit Ausnahme eines pecuni盲ren Interesses. Das Formular wurde von bevollm盲chtigten Vertretern am 08/19/2025 unterzeichnet.
FAQ
What did the Form 4 filed for COTY disclose?
Who are the reporting persons on the COTY Form 4?
Do the disclosed swaps give JAB voting control over COTY shares?
When did the reported transaction occur and when was the form signed?
Which banks were counterparties to the long swaps disclosed?
