8-KOther EventsExhibits & Filings

LOWES COMPANIES INC 8-K Report, Temporary Suspension of Trading Under Employee Benefit Plans (Aug 20, 2015)

Filed August 20, 2015For Securities:LOW

Summary

This 8-K filing from Lowe's Companies, Inc. (LOW) primarily reports on a temporary suspension of trading related to the company's 401(k) Plan. This suspension, known as a 'Blackout Period,' is scheduled to occur from September 24, 2015, through October 1, 2015. During this time, participants and beneficiaries of the 401(k) Plan will be unable to direct or diversify their investments within their individual accounts, nor will they be able to obtain distributions from the Plan. Furthermore, the filing indicates that Lowe's has notified its directors and executive officers about this Blackout Period. As a result, these individuals are prohibited from buying or selling company stock (including derivative securities) that they acquired in connection with their service to the company during the Blackout Period. This restriction is in accordance with Sarbanes-Oxley Act and Regulation BTR requirements.

Key Highlights

  • 1Lowe's 401(k) Plan will enter a temporary trading suspension ('Blackout Period') from September 24, 2015, to October 1, 2015.
  • 2During the Blackout Period, 401(k) Plan participants cannot make investment changes or request distributions from their accounts.
  • 3The company has formally notified its directors and executive officers of this upcoming Blackout Period.
  • 4Directors and executive officers are prohibited from trading Lowe's stock (including derivatives) during the Blackout Period.
  • 5This trading restriction for insiders applies to company stock acquired through their service.
  • 6The notice for the Blackout Period was sent on August 14, 2015, and the company's notice to insiders was dated August 20, 2015.
  • 7Contact information is provided for obtaining further details about the Blackout Period.

Frequently Asked Questions

The 'Blackout Period' is a temporary suspension of trading related to Lowe's 401(k) Plan. It is scheduled to begin on September 24, 2015, and end on October 1, 2015. During this time, plan participants cannot direct or diversify their investments or obtain distributions from their 401(k) accounts.

Lowe's directors and executive officers are prohibited from buying or selling shares of Lowe's common stock, including any derivative securities related to such shares, during the Blackout Period. This restriction applies to company stock they acquired in connection with their employment or service as a director or officer.

The filing indicates the suspension is due to a 'change in the investment fund structure for the Plan,' as notified by the plan administrator. This is a standard procedure to manage transitions within employee benefit plans.

This filing specifically addresses restrictions on 401(k) plan participants and insiders (directors and executive officers). It does not indicate any broader restrictions on the public trading of Lowe's stock on the stock exchange for general investors.