ESPP Important Information
Important information about the employee stock purchase plan:
- E*TRADE is the broker/administrator of the employee stock purchase plan (ESPP).
- You can enroll in the ESPP only during an open enrollment window. The open enrollment windows are November 1 to November 15, and May 1 to May 15. Participation starts at the beginning of the next offering period.
- All shares purchased through the plan will be placed in your E*TRADE Employee Stock Option Plans Services account. You can sell them at any time.
- Your contributions are deducted from your paycheck on an after-tax basis.
- You may stop your payroll deductions and withdraw from the plan by going to My Lowe’s Life. You can cancel participation through the last day of the month prior to the purchase.
- All participants must activate their E*TRADE accounts by the last day of the month before the purchase date. For example, for the May 31 purchase, you must activate your account by April 30. For the November 30 purchase, you must activate by October 31. If you have a current E*TRADE account that you have not activated, you must do so by the last day of the month prior to the purchase. If you are purchasing shares for the first time, your E*TRADE account will be set up within the first two months of the period and will need to be activated by the last day of the month prior to the purchase. For more information about activating your account, contact E*TRADE at 1-800-838-0908.
- If you receive a hardship distribution from the Lowe’s 401(k) plan, Lowe’s is required to suspend your contributions to the ESPP for six months. You may participate in the ESPP after the six-month period by re-enrolling during the open enrollment window for a future offering period.
- The tax effect of your participation in the ESPP depends on your personal situation. You should consult your tax advisor for advice about specific tax consequences of selling shares that may apply to you.
- All enrollments and withdrawals are completed through My Lowe’s Life. This makes it easier for you to enroll, change your deduction amount, or stop participation and get a refund of deductions taken during an offering period.