LOWES COMPANIES INC — Director's Dealing 2011

Apr 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LOWES COMPANIES INC (LOW)
CIK: 0000060667
Period of Report: 2011-03-31

Reporting Person: INGRAM ROBERT ALEXANDER (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-03-31	Phantom Stock	$	A	709.421	Acquired		Common Stock (709.421)	Direct

Footnotes

F1: Represents the credit of deferred compensation to the Reporting Person's deferred stock account under the Lowe's Deferred Compensation Program.

F2: The Reporting Person becomes entitled to the cash value of the phantom stock upon ceasing to be a director of Lowe's.

F3: Includes the credit of dividends to the Reporting Person's deferred stock account under the Lowe's Deferred Compensation Program.