Form 4: Macy's Executive Danielle L. Kirgan Reports Stock Transactions

Danielle L. Kirgan, EVP, Chief Transformation & HR at Macy's, reports the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.

Summary

• On March 24, 2024, Danielle L. Kirgan, EVP, Chief Transformation & HR at Macy's, had 8,539 restricted stock units vest.
• These restricted stock units represent the equivalent of one share of Macy's common stock each.
• Also on March 24, 2024, Kirgan disposed of 8,539 shares to cover tax withholding obligations.
• On March 25, 2024, Kirgan sold 3,274 shares of common stock at a weighted average price of $20.28.
• Following these transactions, Kirgan directly owns 311,820 shares of Macy's common stock.
• The restricted stock units were granted on March 24, 2022, and vest in four equal installments beginning on the first anniversary of the grant date.

Sentiment

Score: 5

Explanation: This is a routine filing related to executive compensation and doesn't indicate any significant positive or negative sentiment.

Industry Context

Executive stock transactions are a routine part of corporate governance and are monitored by investors to gauge executive sentiment and potential future performance.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units that vest over time.
• The sale of shares to cover tax obligations upon vesting is a common practice among executives.
• Comparable companies such as Nordstrom and Kohl's also have executives who regularly report stock transactions.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders.
• Shareholders may be interested in executive stock ownership as an indicator of alignment with company performance.

Key Dates