Form 4: Macy's Director Jill Granoff Receives 13,456 Restricted Stock Units

Macy's, Inc. Director Jill Granoff was granted 13,456 restricted stock units on May 30, 2025, as part of her compensation.

Summary

• Macy's, Inc. Director Jill Granoff was granted 13,456 Restricted Stock Units (RSUs) on May 30, 2025.
• Each RSU represents the equivalent of one share of Macy's common stock.
• The RSUs were acquired at a price of $0, which is typical for equity grants.
• Following this transaction, Jill Granoff beneficially owns 13,456 derivative securities (RSUs) directly.
• The RSUs are set to vest on the earlier of one year from the grant date (May 30, 2025) or the date of Macy's next annual meeting of shareholders.
• Vested shares will be automatically deferred and delivered to Ms. Granoff six months after her service on the Issuer's Board of Directors ends.

Sentiment

Score: 7

Explanation: The document reports a standard equity compensation grant to a director, which is a positive for aligning interests but does not indicate significant operational or financial news for the company. It's a routine disclosure.

Positives

• The grant of Restricted Stock Units to a director aligns their interests with those of the shareholders, as the value of their compensation is tied to the company's stock performance.
• This is a standard form of equity compensation for board members, indicating continuity in corporate governance practices.

Future Outlook

The granted Restricted Stock Units are scheduled to vest on the earlier of one year from the grant date or the date of the next annual meeting of shareholders. The vested shares will be delivered to the reporting person six months after their service on the Board of Directors concludes.

Industry Context

The granting of Restricted Stock Units to directors is a common practice across publicly traded companies, particularly in the retail sector, to incentivize long-term commitment and align leadership interests with shareholder value.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a component of director compensation is a widely accepted practice in corporate governance, consistent with compensation structures observed in major retail companies and S&P 500 constituents.
• The vesting schedule, tied to either a one-year period or the next annual meeting, is a standard approach to ensure continued service and commitment from board members, comparable to practices at companies like Nordstrom, Kohl's, or Target.

Corporate Governance

Related Party Transactions

• The grant of Restricted Stock Units to Jill Granoff, a director of Macy's, Inc., constitutes a related party transaction, which is a standard form of compensation for board service.

Stakeholder Impact

• Shareholders: The equity grant aligns the director's financial interests with shareholder value, potentially encouraging decisions that benefit long-term stock performance.
• Employees: No direct impact on general employees is indicated by this specific filing.

Next Steps

• Vesting of the 13,456 Restricted Stock Units on the earlier of May 30, 2026, or the date of the next annual meeting of shareholders.
• Automatic deferral and delivery of vested shares six months after Jill Granoff's service on the Board of Directors ends.

Key Dates

Keywords

Macy's, M, Jill Granoff, Restricted Stock Units, RSU, Director Compensation, Equity Grant, SEC Form 4, Insider Transaction