Form 4: Macy's CEO Jeffrey Gennette Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Macy's CEO Jeffrey Gennette sold 30,090 shares of common stock on April 1, 2024, to cover tax withholding obligations related to vesting restricted stock units.
Summary
- On March 31, 2024, Jeffrey Gennette, CEO of Macy's, acquired 60,748 shares of common stock through the vesting of restricted stock units.
- On April 1, 2024, Gennette sold 30,090 shares at a weighted average price of $19.6551 to cover tax obligations.
- Following these transactions, Gennette directly owns 1,073,699 shares of Macy's common stock and 182,247 restricted stock units.
Sentiment
Score: 5
Explanation: The document reports routine transactions related to executive compensation and tax obligations, indicating a neutral sentiment.
Industry Context
Insider transactions are routinely monitored and reported to the SEC. Sales to cover tax obligations are common when restricted stock units vest.
Stakeholder Impact
- The sale of shares by the CEO could have a minor impact on shareholder sentiment, but is likely viewed as a routine transaction.
Key Dates
| Date | Description |
|---|---|
| 03/31/2023 | Reporting person was granted 242,995 restricted stock units vesting in four equal installments beginning on the first anniversary of the grant date. |
| 03/31/2024 | Jeffrey Gennette acquired 60,748 shares of common stock through the vesting of restricted stock units. |
| 04/01/2024 | Jeffrey Gennette sold 30,090 shares of common stock to cover tax withholding obligations. |
| 04/02/2024 | Date of signature for the Form 4 filing. |
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