Form 4: Macy's CEO & Chair-Elect Antony Spring Reports Stock Transactions

Antony Spring, CEO & Chair-Elect of Macy's, reports the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.

Summary

• On March 25, 2024, Antony Spring, the CEO & Chair-Elect of Macy's, acquired 12,173 shares of common stock upon the vesting of restricted stock units.
• These restricted stock units were granted on March 25, 2021, and vested in four equal installments starting on the first anniversary of the grant date.
• On March 26, 2024, Spring sold 5,754 shares at a weighted average price of $19.4319 to cover tax withholding obligations.
• Following these transactions, Spring directly owns 235,169.1058 shares of Macy's common stock and 12,173 restricted stock units.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting stock transactions, which is neutral in sentiment.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common for publicly traded companies like Macy's. It provides transparency into the executive's holdings and transactions in the company's stock.

Comparison to Industry Standards

• Executive stock transactions are a common occurrence in publicly traded companies.
• Companies like Nordstrom, Kohl's, and Target also have executives who regularly report stock transactions via Form 4 filings.
• The vesting schedules and tax withholding practices observed in this filing are typical for executive compensation packages in the retail industry.

Stakeholder Impact

• The stock sale could have a minor, temporary impact on the stock price, but is unlikely to be significant given the relatively small volume of shares sold.
• The vesting of restricted stock units is part of the executive compensation package, which is of interest to shareholders.

Key Dates