Form 4: Macy's SVP and Controller Reports Stock Transactions
SEC Form 4 Filing
Paul Griscom, SVP and Controller of Macy's, Inc., reports the vesting and sale of restricted stock units to cover tax obligations.
Summary
- On March 31, 2024, Paul Griscom, SVP and Controller of Macy's, Inc., had 1,715 restricted stock units vest.
- These units represent the equivalent of 1,715 shares of Macy's common stock.
- On April 1, 2024, Mr. Griscom sold 522 shares of common stock at a weighted average price of $19.6378 to cover tax withholding obligations.
- Following these transactions, Mr. Griscom beneficially owns 25,553 shares of Macy's common stock and 5,146 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to stock transactions by a company executive. It doesn't contain any information that would significantly impact the company's outlook or investor sentiment.
Industry Context
This is a routine disclosure related to insider trading. It is common for company executives to receive stock options or restricted stock units as part of their compensation packages. The sale of shares to cover tax obligations is also a common practice.
Comparison to Industry Standards
- Executive compensation packages often include stock options and restricted stock units to align management's interests with those of shareholders.
- The vesting schedules and terms of these grants are typically benchmarked against industry peers to ensure competitiveness.
- Sales of shares to cover tax obligations are a standard practice among executives who receive equity compensation.
Key Dates
| Date | Description |
|---|---|
| 03/31/2023 | Reporting person was granted 6,861 restricted stock units vesting in four equal installments beginning on the first anniversary of the grant date. |
| 03/31/2024 | 1,715 restricted stock units vested. |
| 04/01/2024 | 522 shares of common stock sold to cover tax withholding obligations. |
| 04/02/2024 | Date of Form 4 signature. |
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