Lowe's Companies Inc. Files Definitive Proxy Statement (DEF 14A)

Ticker: LOW · Form: DEF 14A · Filed: Apr 18, 2024 · CIK: 60667

Lowes Companies Inc DEF 14A Filing Summary
FieldDetail
CompanyLowes Companies Inc (LOW)
Form TypeDEF 14A
Filed DateApr 18, 2024
Risk Levellow
Pages15
Reading Time17 min
Key Dollar Amounts$2 billion, $8.9 billion, $3.5 billion, $350 million, $42.2 Billion
Sentimentneutral

Sentiment: neutral

Topics: Lowe's, DEF 14A, Proxy Statement, Executive Compensation, Corporate Governance

TL;DR

<b>Lowe's Companies Inc. has filed its Definitive Proxy Statement for the fiscal year ending February 2, 2024, detailing executive compensation and corporate governance matters.</b>

AI Summary

LOWES COMPANIES INC (LOW) filed a Proxy Statement (DEF 14A) with the SEC on April 18, 2024. Lowe's Companies Inc. filed a Definitive Proxy Statement (DEF 14A) on April 18, 2024. The filing pertains to the fiscal year ending February 2, 2024. The company's principal executive offices are located at 1000 Lowes Blvd., Mooresville, NC 28117. The filing includes information related to executive compensation, including stock and option awards. Lowe's Companies Inc. is registered under the Central Index Key 0000060667.

Why It Matters

For investors and stakeholders tracking LOWES COMPANIES INC, this filing contains several important signals. This DEF 14A filing is crucial for shareholders as it outlines proposals to be voted on at the annual meeting, including executive compensation plans and director elections. Understanding the details within this proxy statement allows investors to make informed decisions regarding their voting rights and the company's strategic direction.

Risk Assessment

Risk Level: low — LOWES COMPANIES INC shows low risk based on this filing. The filing is a routine DEF 14A, indicating standard corporate governance and executive compensation disclosures rather than significant new events or risks.

Analyst Insight

Review the executive compensation details and any shareholder proposals within the DEF 14A to understand management's incentives and potential governance changes.

Key Numbers

  • 2024-02-02 — Fiscal Year End (Reporting Period)
  • 2023-02-04 — Prior Fiscal Year End (Comparative Period)
  • DEF 14A — Form Type (Filing Type)
  • 001-07898 — SEC File Number (SEC Filing Identifier)

Key Players & Entities

  • LOWES COMPANIES INC (company) — Registrant Name
  • 0000060667 (company) — Central Index Key
  • NC (company) — State of Incorporation
  • 1000 LOWES BLVD. (company) — Business Address Street 1
  • MOORESVILLE (company) — Business Address City
  • 28117 (company) — Business Address ZIP
  • 704-758-1000 (company) — Business Phone
  • 2024-04-18 (date) — Filing Date

FAQ

When did LOWES COMPANIES INC file this DEF 14A?

LOWES COMPANIES INC filed this Proxy Statement (DEF 14A) with the SEC on April 18, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by LOWES COMPANIES INC (LOW).

Where can I read the original DEF 14A filing from LOWES COMPANIES INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by LOWES COMPANIES INC.

What are the key takeaways from LOWES COMPANIES INC's DEF 14A?

LOWES COMPANIES INC filed this DEF 14A on April 18, 2024. Key takeaways: Lowe's Companies Inc. filed a Definitive Proxy Statement (DEF 14A) on April 18, 2024.. The filing pertains to the fiscal year ending February 2, 2024.. The company's principal executive offices are located at 1000 Lowes Blvd., Mooresville, NC 28117..

Is LOWES COMPANIES INC a risky investment based on this filing?

Based on this DEF 14A, LOWES COMPANIES INC presents a relatively low-risk profile. The filing is a routine DEF 14A, indicating standard corporate governance and executive compensation disclosures rather than significant new events or risks.

What should investors do after reading LOWES COMPANIES INC's DEF 14A?

Review the executive compensation details and any shareholder proposals within the DEF 14A to understand management's incentives and potential governance changes. The overall sentiment from this filing is neutral.

How does LOWES COMPANIES INC compare to its industry peers?

Lowe's Companies Inc. operates in the retail sector, specifically focusing on lumber and building materials.

Are there regulatory concerns for LOWES COMPANIES INC?

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, which governs the solicitation of proxies.

Industry Context

Lowe's Companies Inc. operates in the retail sector, specifically focusing on lumber and building materials.

Regulatory Implications

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, which governs the solicitation of proxies.

What Investors Should Do

  1. Analyze the executive compensation packages detailed in the proxy statement.
  2. Review any shareholder proposals and the board's recommendations.
  3. Note the voting procedures and deadlines for shareholders.

Key Dates

  • 2024-04-18: Filing Date — Definitive Proxy Statement filed
  • 2024-02-02: Fiscal Year End — Reporting period for the proxy statement

Year-Over-Year Comparison

This is the initial filing of the Definitive Proxy Statement for the current fiscal year.

Filing Stats: 4,351 words · 17 min read · ~15 pages · Grade level 16 · Accepted 2024-04-18 08:28:27

Key Financial Figures

  • $2 billion — ital allocation strategy, we reinvested $2 billion into the business and returned $8.9 bil
  • $8.9 billion — billion into the business and returned $8.9 billion to our shareholders through a combinati
  • $3.5 billion — tail. Since 2018, we have invested over $3.5 billion in incremental wage and share-based com
  • $350 million — awarded these associates with more than $350 million in discretionary and profit-sharing bon
  • $42.2 Billion — continued dividend growth since 1961. $42.2 Billion 36.4% CASH FLOWS FROM OPERATIONS I
  • $10.2 Billion — TRIPLED IN THE LAST FIVE YEARS 10.1% $10.2 Billion $42.8 Billion 2023 PER SHARE INCREA
  • $42.8 Billion — AST FIVE YEARS 10.1% $10.2 Billion $42.8 Billion 2023 PER SHARE INCREASE IN ANNUAL DI
  • $1.4 billion — iscal 2022 sales included approximately $1.4 billion due to the 53 rd week in the prior year
  • $5.0 billion — 3 rd week in the prior year, as well as $5.0 billion generated by our Canadian retail busine
  • $2.5 billion — to shareholders through the payment of $2.5 billion in dividends and the repurchase of $6.3
  • $6.3 billion — lion in dividends and the repurchase of $6.3 billion of our common stock in fiscal 2023. We
  • $50 million — e Grants program, which is a five-year, $50 million commitment to recruit, train and prepar

Filing Documents

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management 26 Compensation Discussion and Analysis 27 Executive Summary 28 Compensation Elements 33 Compensation Decision-Making Process 36 2023 Compensation Actions 38 Other Compensation Policies 44 Compensation Committee Report 46 Compensation Tables 47 Compensation Committee Interlocks and Insider Participation 61 Equity Compensation Plan Information 61 Related Person Transactions 62 Policy and Procedures for Review and Approval of Related Person Transactions 62 Approved Related Person Transactions 62 Audit Matters 63 Report of the Audit Committee 63 Fees Paid to the Independent Registered Public Accounting Firm 64 Proposal 2: Advisory Vote to Approve the Company's Named Executive Officer Compensation in Fiscal 2023 65 Proposal 3: Ratification of the Appointment of Independent Registered Public Accounting Firm for Fiscal 2024 66 General Information 67 Additional Information 71 Delivery of Proxy Materials 71 Electronic Delivery of Proxy Materials 71 Shareholder Proposals for the 2025 Annual Meeting 71 Annual Report 72 Appendix A: Reconciliation of Non-GAAP Financial Measures A-1 Appendix B: Categorical Standards for Determination of Director Independence B-1 DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS This document includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as "believe," "expect," "anticipate," "plan," "project," "estimate," "intend," "will," "should," "could," "would," "may," "strategy," "goal," "target," "potential," "opportunity," "outlook," "guidance," "scenario" and similar expressions are forward-looking statements. Forward-looking statements involve, among other things, expectations, projections and assumptions about future priorities, shareholder value, Lowe's strategic initiatives and our en

Executive Compensation Program Design

Executive Compensation Program Design viii NOTICE OF ANNUAL MEETING & PROXY STATEMENT 2024 Table of Contents Since the beginning of fiscal 2023, we have met with shareholders representing over 75% of our institutionally-held shares in a number of forums, including as part of our regular investor relations outreach efforts and governance and sustainability focused dialogues. We report the feedback from our shareholders on a regular cadence to the Board's Nominating and Governance Committee and other relevant committees as appropriate, who also provide updates to the full Board. The Board and the management teams have used this shareholder feedback to inform numerous changes to enhance our compensation, governance, human capital and sustainability efforts

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