Form 4: Macy's EVP, COO & CFO Adrian Mitchell Reports Stock Transactions

Adrian Mitchell, EVP, COO & CFO of Macy's, Inc., reports the acquisition and disposal of company stock related to performance restricted stock units and tax obligations.

Summary

• On March 21, 2024, Adrian Mitchell acquired 35,087 shares of Macy's common stock related to the settlement of performance restricted stock units.
• These units were granted on March 21, 2024, following a three-year performance period from fiscal years 2021 to 2023.
• The acquisition includes 2,792 dividend shares accrued during the performance period.
• On the same day, 1,126 shares were withheld by Macy's to satisfy Mitchell's tax obligations related to the vesting of accrued dividends.
• On March 22, 2024, Mitchell sold 13,249 shares to cover tax withholding obligations upon the vesting of performance restricted shares at a weighted average price of $20.4197.
• Following these transactions, Mitchell beneficially owns 99,098 shares of Macy's common stock.

Sentiment

Score: 5

Explanation: The document reflects routine transactions related to executive compensation and tax obligations, indicating a neutral sentiment.

Industry Context

This filing reflects standard executive compensation practices involving stock-based awards and tax obligations, common in publicly traded companies.

Comparison to Industry Standards

• Executive compensation packages often include performance-based equity awards to align management's interests with those of shareholders.
• Tax withholding obligations upon vesting of equity awards are standard practice across the industry.
• Similar transactions are regularly reported by executives at comparable retailers like Nordstrom and Kohl's.

Stakeholder Impact

• The transactions have a minimal direct impact on shareholders, as they relate to executive compensation and tax obligations.
• Employees may be indirectly affected through the company's overall financial performance and executive alignment with shareholder interests.

Key Dates