Form 4: Director Brian C. Rogers Reports Acquisition of Lowe's Companies Inc. Phantom Stock

Brian C. Rogers, a director of Lowe's Companies Inc., reported the acquisition of phantom stock units representing deferred compensation and dividend credits.

Summary

• On March 29, 2024, Brian C. Rogers, a director of Lowe's Companies Inc., acquired 117.772 units of phantom stock.
• These units represent deferred compensation credited to his deferred stock account under the company's Directors' Deferred Compensation Plan.
• Each phantom stock unit is economically equivalent to one share of Lowe's common stock.
• The acquisition price is $254.73 per share.
• Following the transaction, Rogers beneficially owns 4,493.997 units of phantom stock.
• This includes credits of dividends to the Reporting Person's deferred stock account under the Issuer's Directors' Deferred Compensation Plan.
• Rogers will receive the cash value of the phantom stock upon ceasing to be a director of Lowe's.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating stability and alignment of interests. It is neither overwhelmingly positive nor negative.

Positives

• The acquisition of phantom stock reflects continued participation in the Directors' Deferred Compensation Plan.
• The dividend credits increase the value of the deferred stock account.

Future Outlook

The reporting person will receive cash value of the phantom stock upon ceasing to be a director of the Issuer.

Industry Context

Directors' deferred compensation plans are a common practice in publicly traded companies to align the interests of directors with those of long-term shareholders.

Comparison to Industry Standards

• Deferred compensation plans for directors are a standard practice among large publicly traded companies.
• Companies like Home Depot (HD) and Walmart (WMT) also utilize similar deferred compensation structures for their board members.
• The specifics of these plans, such as the vesting schedules and payout terms, can vary, but the underlying principle of aligning director compensation with long-term shareholder value remains consistent.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, employees, customers, suppliers, and creditors.
• It primarily affects the director's compensation structure.

Key Dates