Form 4: Macy's CEO Bron Reports Stock Transactions

Olivier Bron, CEO of Bloomingdale's, reported the settlement of performance restricted stock units, tax-related share withholdings and sales, and a new RSU grant.

Summary

• Olivier Bron, CEO of Bloomingdale's (a division of Macy's, Inc.), reported several transactions on March 26, 2026, and March 27, 2026.
• Received 11,035 shares of common stock from the settlement of performance restricted stock units (RSUs) granted on November 1, 2023, covering the fiscal 2023-2025 performance period. This included 1,024 dividend shares.
• Macy's, Inc. withheld 406 shares of common stock at $18.49 to satisfy tax withholding obligations related to the RSU vesting.
• Sold 4,712 shares of common stock at a weighted average price of $17.9132 to cover additional tax withholding obligations. These sales ranged from $17.8400 to $18.0450.
• Was granted 48,674 new restricted stock units (RSUs) on March 26, 2026, which will vest in four equal installments starting on the first anniversary of the grant date.
• Following these transactions, Bron beneficially owns 11,219 shares of common stock and 48,674 restricted stock units.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive event. The settlement of performance RSUs suggests performance targets were met, and the new RSU grant indicates continued executive retention and alignment, while tax-related sales are routine.

Positives

• Settlement of 11,035 performance restricted stock units indicates successful achievement of performance targets over the fiscal 2023-2025 period.
• Grant of 48,674 new restricted stock units demonstrates continued long-term incentive and alignment with shareholder interests.

Negatives

• Sale of 4,712 shares and withholding of 406 shares, totaling 5,118 shares, to cover tax obligations reduces direct common stock ownership.

Future Outlook

The grant of 48,674 new restricted stock units, vesting in four equal installments over four years, indicates a long-term commitment for the executive and aligns their incentives with future company performance.

Industry Context

StockSavvy.ai notes that executive compensation often includes performance-based equity awards like RSUs, aligning management incentives with company performance. Tax-related sales upon vesting are a common and non-discretionary occurrence for executives.

Comparison to Industry Standards

• StockSavvy.ai observes that performance-based equity compensation and subsequent tax-related share sales are standard practice across the retail industry for executive remuneration, comparable to practices at companies like Nordstrom or Kohl's.
• The vesting schedule for new RSUs (four equal installments) is also a common structure for long-term incentive plans in executive compensation packages.

Stakeholder Impact

• Shareholders: The settlement of performance RSUs suggests the company met certain performance metrics, which is generally positive. The new RSU grant aligns executive incentives with long-term shareholder value.
• Employees: No direct impact mentioned beyond the executive.

Next Steps

• New restricted stock units will vest in four equal installments beginning on March 26, 2027 (the first anniversary of the grant date).

Key Dates

Recommendation

This Form 4 details routine executive compensation events, including the vesting of performance-based equity and a new grant, alongside mandatory tax-related share sales. It does not provide new information about the company's operational performance or strategic direction that would warrant a change in investment stance. Therefore, a "hold" recommendation is appropriate as it reflects the lack of new fundamental drivers from this specific filing.

Keywords

Macy's, M, Olivier Bron, Bloomingdale's, SEC Form 4, insider trading, restricted stock units, RSU, executive compensation, stock grant, share sale