Form 4: Macy's Director William H. Lenehan Reports Acquisition of Phantom Stock Units

Director William H. Lenehan reports acquisition of 1,707 phantom stock units convertible to common stock upon termination from Macy's Board.

Summary

• William H. Lenehan, a director of Macy's, Inc., reported the acquisition of 1,707 phantom stock units on September 30, 2024.
• These units are convertible to common stock on a 1-for-1 basis.
• The units will be settled in common stock upon Lenehan's termination from the Board of Directors.
• The average price of the stock units granted each month during the quarter is $16.1122.
• Following the transaction, Lenehan directly owns 1,707 derivative securities.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard compensation practices and aligns director interests with shareholders.

Positives

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders.

Future Outlook

The phantom stock units will be settled in common stock upon the Reporting Person's termination from the Board of Directors.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders, potentially encouraging decisions that benefit the company's long-term value.

Key Dates