Item 5. Market for Registrant’s Common Equity
Item 5 - Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Lowe’s common stock is traded on the New York Stock Exchange (NYSE). The ticker symbol for Lowe’s is “LOW”. As of March 17, 2022, there were 21,284 holders of record of Lowe’s common stock.
Total Return to Shareholders
The following information in Item 5 of this Annual Report is not deemed to be “soliciting material” or to be “filed” with the SEC or subject to Regulation 14A or 14C under the Securities Exchange Act of 1934 or to the liabilities of Section 18 of the Securities Exchange Act of 1934, and will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent we specifically incorporate it by reference into such a filing.
The following table and graph compare the total returns (assuming reinvestment of dividends) of the Company’s common stock, the S&P 500 Index (S&P 500) and the S&P Retailing Industry Group Index (S&P Retail Index). The graph assumes $100 invested on February 3, 2017 in the Company’s common stock and each of the indices.
2/3/2017 2/2/2018 2/1/2019 1/31/2020 1/29/2021 1/28/2022
Lowe’s $ 100.00 $ 141.08 $ 137.68 $ 167.96 $ 245.12 $ 350.10
S&P 500 100.00 122.62 122.55 148.95 174.62 211.27
S&P Retail Index $ 100.00 $ 142.48 $ 154.19 $ 185.97 $ 262.93 $ 278.43
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Issuer Purchases of Equity Securities
The following table sets forth information with respect to purchases of the Company’s common stock made during the fourth quarter of fiscal 2021:
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
Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs 2
October 30, 2021 - November 26, 2021 3
12,081,035 $ 248.99 12,080,454 $ 7,307,846,188
November 27, 2021 - December 31, 2021 1,147 253.46 — 20,307,846,188
January 1, 2022 - January 28, 2022 3
4,059,224 245.34 4,044,512 19,727,849,966
As of January 28, 2022 16,141,406 $ 248.07 16,124,966 $ 19,727,849,966
1 The total number of shares purchased 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 15, 2021, the Company announced that its Board of Directors authorized an additional $13.0 billion of share repurchases, in addition to the $15.0 billion of share repurchases authorized by the Board of Directors in December 2020, with no expiration.
3 In November 2021, 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 $3.0 billion to the financial institution and received an initial delivery of 10.3 million shares. In January 2022, prior to the end of the fiscal year, the Company finalized the transaction and received an additional 1.6 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 1 0 to the consolidated financial statements included herein for additional information regarding share repurchases.
Item 6 - Reserved
Not applicable.
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