LOWES COMPANIES INC
For the period ended May 3, 2024. Filed May 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
May 3, 2024 · Filed May 30, 2024
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Unregistered Sales of Equity Securities and Use of Proceeds
Issuer Purchases of Equity Securities
The following table sets forth information with respect to purchases of the Company’s common stock on a trade date basis made during the three months ended May 3, 2024:
| Total Number of Shares Purchased 1 | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs 2 | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs 2, 3 | |
|---|---|---|---|---|
| February 3, 2024 - March 1, 2024 4 | 1,146,937 | $242.74 | 1,146,709 | $14,247,002,425 |
| March 2, 2024 - April 5, 2024 | 1,042,096 | 247.63 | 680,806 | 14,079,010,887 |
| April 6, 2024 - May 3, 2024 4 | 853,354 | 235.22 | 853,050 | 13,939,009,783 |
| As of May 3, 2024 | 3,042,387 | $242.30 | 2,680,565 | $13,939,009,783 |
1 The total number of shares repurchased includes shares withheld from employees to satisfy either the exercise price of stock options or the statutory withholding tax liability upon the vesting of share-based awards.
2 On December 7, 2022, the Company announced that its Board of Directors authorized an additional $15.0 billion of share repurchases with no expiration.
3 Excludes excise tax on share repurchases in excess of issuances, which is recognized as part of the cost basis of the shares acquired in the consolidated statements of shareholders’ deficit.
4 In February 2024, the Company entered into an Accelerated Share Repurchase (ASR) agreement with a third-party financial institution to repurchase the Company’s common stock. At inception, pursuant to the agreement, the Company paid $325 million to the financial institution and received an initial delivery of 1.1 million shares. In April, the Company finalized the transaction and received an additional 0.2 million shares. The average price paid per share in settlement of the ASR agreement included in the table above was determined with reference to the volume-weighted average price of the Company’s common stock over the term of the ASR agreement. See Note 8 to the consolidated financial statements included herein for additional information regarding share repurchases.
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