Form 4: Lowe's Director Brian C. Rogers Reports Phantom Stock Acquisition
SEC Form 4
Director Brian C. Rogers reported the acquisition of phantom stock units related to deferred compensation and dividend credits in Lowe's Companies Inc.
Summary
- On June 28, 2024, Brian C. Rogers, a director of Lowe's Companies Inc., acquired 136.079 units of phantom stock.
- This acquisition is related to deferred compensation credited to Rogers' 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 price of the phantom stock was $220.46 per unit.
- Rogers also received dividend credits to his deferred stock account.
- Following the reported transaction, Rogers beneficially owns 4,651.429 units of phantom stock directly.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive as it reflects standard compensation practices. There are no indications of negative performance or concerns.
Future Outlook
The reporting person becomes entitled to the cash value of the phantom stock upon ceasing to be a director of the Issuer.
Industry Context
This filing is a routine disclosure related to director compensation and is typical for publicly traded companies. It reflects the company's compensation policies for its board members.
Comparison to Industry Standards
- Deferred compensation plans, including phantom stock arrangements, are common among publicly traded companies to align the interests of directors with those of shareholders.
- Companies like Home Depot (HD) and Walmart (WMT) also utilize various forms of equity-based compensation for their directors.
- The specific terms and amounts of these plans vary based on company size, performance, and industry practices.
Stakeholder Impact
- The transaction has a minimal direct impact on shareholders, employees, customers, suppliers, and creditors.
- It primarily affects the director's compensation and alignment with the company's long-term performance.
Key Dates
| Date | Description |
|---|---|
| 06/28/2024 | Date of phantom stock acquisition and dividend credit. |
| 07/02/2024 | Date of signature on the Form 4 filing. |
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