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

Antony Spring, CEO & Chair-Elect of Macy's, reports acquisition and disposal of company stock related to performance restricted stock units and tax obligations.

Summary

• On March 21, 2024, Antony Spring acquired 39,673 shares of Macy's common stock related to the settlement of performance restricted stock units granted in March 2021.
• These units covered the fiscal years 2021-2023 and included 3,155 dividend shares accrued during the performance period.
• Also on March 21, 2024, 1,138 shares were withheld by Macy's to satisfy tax obligations related to the vesting of accrued dividends.
• On March 22, 2024, Spring sold 13,404 shares to cover tax withholding obligations upon the vesting of performance restricted shares at a weighted average price of $20.4197.
• Following these transactions, Spring beneficially owns 223,286.1058 shares of Macy's common stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions, which has a neutral sentiment.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common practice and provides transparency to investors.

Comparison to Industry Standards

• Executive stock transactions are a common occurrence in publicly traded companies.
• Similar filings can be observed for executives at comparable retailers like Nordstrom (JWN) and Kohl's (KSS).
• The transactions are generally related to compensation plans, such as stock options or restricted stock units, and tax obligations.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
• The disclosure provides transparency to shareholders regarding executive stock ownership.

Key Dates