Form 4: Macy's Director Richard L. Markee Reports Acquisition of Phantom Stock Units
SEC Form 4 Filing
Macy's director Richard L. Markee acquired 785 phantom stock units, which will be settled in common stock upon his termination from the board.
Summary
- Richard L. Markee, a director at Macy's, Inc., reported the acquisition of 785 phantom stock units on December 31, 2024.
- These units are equivalent to shares of Macy's common stock and will be settled in common stock upon Markee's departure from the Board of Directors.
- The price of the units is valued at $15.9277, which is the average value of stock units granted each month during the quarter for which this report is filed.
- The transaction was reported on January 3, 2025.
Sentiment
Score: 7
Explanation: The document is a routine SEC filing related to director compensation, which is a neutral event. The sentiment is slightly positive as it indicates that the director is aligned with the company's performance through equity ownership.
Industry Context
This is a routine filing related to director compensation and is common practice for publicly traded companies. It reflects the company's compensation strategy for its board members.
Comparison to Industry Standards
- The use of phantom stock units is a common practice in executive and director compensation across various industries, including retail.
- Many companies, such as Target and Walmart, use similar equity-based compensation methods to align the interests of directors with those of shareholders.
- The valuation of $15.9277 per unit is specific to Macy's stock performance and is not directly comparable to other companies without considering their respective stock prices and valuation metrics.
Stakeholder Impact
- The acquisition of phantom stock units by a director aligns their interests with those of shareholders, potentially encouraging decisions that benefit the company's long-term performance.
- This type of compensation is a standard practice and is not expected to have a significant impact on other stakeholders.
Key Dates
| Date | Description |
|---|---|
| 12/31/2024 | Date of the transaction where phantom stock units were acquired. |
| 01/03/2025 | Date the SEC Form 4 was signed and filed. |
Keywords
Macy's, Richard L. Markee, phantom stock units, director, insider trading, SEC Form 4, equity compensation
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