[Form 4] LOWES COMPANIES INC Insider Trading Activity

Rhea-AI Filing Summary

Laurie Z. Douglas, a director of Lowes Companies Inc (LOW), had 59.687 units of phantom stock credited to her deferred stock account on 09/30/2025 under the company’s Directors' Deferred Compensation Plan. Each phantom stock unit is the economic equivalent of one share of common stock and is payable in cash when the reporting person ceases to be a director. The filing records an acquisition at an implied per-unit value of $251.31 and reports 4,633.793 shares (or economic-equivalent units) beneficially owned following the transaction; the reported entry also includes dividend credits to the deferred stock account. The Form 4 was signed by Sandra Felton by power of attorney for Laurie Z. Douglas on 10/02/2025.

Positive

• 59.687 phantom stock units credited to deferred compensation (non-dilutive)
• Phantom units include credited dividends, preserving economic value for the director
• Filing clearly states the payout is in cash upon ceasing directorship, limiting immediate share dilution

Negative

• None.

Insights

Corporate Governance Expert

Director deferred-compensation credit of 59.687 phantom shares recorded.

This Form 4 shows a routine, non-cash credit to a director's deferred compensation plan rather than an open-market purchase or sale. The filing documents an accrual of 59.687 phantom stock units valued at $251.31 each and reports 4,633.793 total beneficially owned units afterward.

Because the phantom units pay out in cash upon leaving the board and include dividend credits, this is a compensation accounting entry that affects director economic exposure but does not immediately change outstanding common shares.

Executive Compensation Analyst

Transaction is compensation-related, not a market trade.

The entry is explicitly described as a credit under the Issuer's Directors' Deferred Compensation Plan and each phantom unit equals one share economically. The filing notes dividend credits were included, indicating standard plan mechanics rather than a negotiated equity grant.

The reported per-unit value of $251.31 provides a snapshot of the plan valuation on 09/30/2025, but the units are payable in cash upon cessation of directorship.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

DOUGLAS LAURIE Z

(Last) (First) (Middle)

1000 LOWES BOULEVARD

(Street)

MOORESVILLE NC 28117

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LOWES COMPANIES INC [ LOW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock(1)	(2)	09/30/2025		A		59.687		(2)	(2)	Common Stock	59.687	$251.31	4,633.793(3)	D

Explanation of Responses:

1. Represents the credit of deferred compensation to the Reporting Person's deferred stock account under the Issuer's Directors' Deferred Compensation Plan.

2. Each share of phantom stock is the economic equivalent of one share of common stock. The Reporting Person becomes entitled to the cash value of the phantom stock upon ceasing to be a director of the Issuer.

3. Includes the credit of dividends to the Reporting Person's deferred stock account under the Issuer's Directors' Deferred Compensation Plan.

Remarks:

	By: /s/ Sandra Felton by power of attorney for: Laurie Z. Douglas	10/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Laurie Z. Douglas report on the Form 4 for LOW?

The form reports a credit of 59.687 phantom stock units to her deferred stock account on 09/30/2025, with a reported per-unit value of $251.31 and 4,633.793 units beneficially owned after the credit.

Are the phantom stock units actual shares of LOW?

No. The filing states each phantom stock unit is the economic equivalent of one share and is payable in cash when the director leaves the board; they are not immediate common stock issuances.

Does this Form 4 show an open-market purchase or sale?

No. The transaction is coded as an acquisition through the Directors' Deferred Compensation Plan and represents a plan credit, not a market trade.

Were dividends accounted for in the reported transaction?

Yes. The filing explicitly notes that dividend credits were included in the reporting person’s deferred stock account.

Who signed the Form 4 and when was it signed?

The Form 4 was signed by Sandra Felton by power of attorney for Laurie Z. Douglas on 10/02/2025.