Form 4: Macy's SVP and Controller Paul Griscom Reports Stock Transactions

Paul Griscom, SVP and Controller 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, Paul Griscom acquired 9,913 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, and include 784 dividend shares.
• Also on March 21, 2024, 235 shares were withheld by Macy's to cover Griscom's tax obligations related to the vesting of accrued dividends, at a price of $20.79.
• On March 22, 2024, Griscom sold 2,969 shares at a weighted average price of $20.4259 to cover tax withholding obligations upon the vesting of performance restricted shares.
• Following these transactions, Griscom beneficially owns 21,436 shares of Macy's common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the document primarily reports stock transactions related to compensation and tax obligations. There's no indication of significant positive or negative news.

Positives

• The vesting of performance restricted stock units indicates that performance goals were met over the three-year period (fiscal 2021-2023).

Industry Context

Form 4 filings are standard practice for company insiders and provide transparency into their transactions in the company's stock. These transactions can be influenced by company performance, personal financial planning, and tax considerations.

Comparison to Industry Standards

• Comparing Griscom's transactions to those of other executives at similar retailers would provide context on whether these actions are typical.
• Analyzing the vesting schedules and performance metrics of similar restricted stock unit grants at companies like Nordstrom or Kohl's could offer insights into Macy's compensation practices.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect insider activity related to compensation.
• Employees may be interested in the vesting of performance restricted stock units as an indicator of company performance.

Key Dates