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 and dividend credits under the company's deferred compensation plan.

Summary

• On March 31, 2025, Brian C. Rogers, a director of Lowe's Companies Inc., acquired phantom stock units representing deferred compensation.
• The transaction involved the crediting of deferred compensation to Rogers' deferred stock account under the Issuer's Directors' Deferred Compensation Plan.
• Rogers acquired 107.19 phantom stock units at a price of $233.23 per unit.
• Following the transaction, Rogers beneficially owns 5,016.645 shares of common stock, including dividend credits to the deferred stock account.
• Each share of phantom stock is the economic equivalent of one share of common stock, and Rogers becomes entitled to the cash value upon ceasing to be a director.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally. The acquisition of phantom stock can be seen as a positive sign of alignment between management and shareholders.

Positives

• The acquisition of phantom stock aligns the director's interests with the long-term performance of the company.
• The deferred compensation plan allows directors to accumulate wealth tied to the company's stock performance.

Industry Context

This filing is a routine disclosure of a director's compensation-related stock transactions, common in publicly traded companies. It reflects standard practices for aligning director compensation with shareholder value.

Comparison to Industry Standards

• Deferred compensation plans, including phantom stock arrangements, are common among large publicly traded companies like Lowe's, Home Depot (HD), and Walmart (WMT).
• These plans are designed to attract and retain qualified directors by providing them with a stake in the company's long-term success.
• The specific terms of deferred compensation plans can vary, but they generally involve the deferral of compensation into stock-based awards that vest over time or upon retirement.
• The amount of phantom stock granted to directors is typically determined based on their level of responsibility and contribution to the company.

Stakeholder Impact

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

Key Dates

Keywords

phantom stock, deferred compensation, director, LOW, Lowes Companies Inc., Brian C. Rogers, Form 4, beneficial ownership