UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 29, 2020
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| LOWE’S COMPANIES, INC. |
| (Exact name of registrant as specified in its charter) |
| | | | | | | | | | | | | | | | | | | | |
| North Carolina | | 1-7898 | | 56-0578072 | |
| (State or other jurisdiction
of incorporation) | | (Commission File
Number) | | (IRS Employer
Identification No.) | |
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| 1000 Lowe’s Blvd., | Mooresville, | NC | | 28117 | | | |
| (Address of principal executive offices) | | | | (Zip Code) | | | |
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| Registrant’s telephone number, including area code | | | | | (704) | 758-1000 | | |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | |
| Common Stock, par value $0.50 per share | LOW | New York Stock Exchange | |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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| ☐ | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. |
Item 7.01. Regulation FD Disclosure.
On September 29, 2020, Lowe’s Companies, Inc. (the “Company”) determined to restart its previously authorized stock repurchase program, which was temporarily suspended in the first quarter of 2020 in response to the uncertainties surrounding the COVID-19 pandemic. The Company currently has $8.7 billion remaining under the Board’s repurchase authorization. Shares may be repurchased in the open market at prevailing market prices, including in discretionary transactions and under plans complying with the provisions of Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, or in privately negotiated transactions. The timing and actual number of common shares to be repurchased will depend upon market conditions and other factors, in accordance with Securities and Exchange Commission requirements.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| LOWE’S COMPANIES, INC. | | |
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| Date: September 29, 2020 | By: | /s/ David M. Denton | |
| Name: | David M. Denton | |
| Title: | Executive Vice President, Chief Financial Officer | |
