Form 4: Macy's SVP & Controller Reports Equity Transactions

Macy's SVP and Controller, Paul Griscom, reported the vesting of restricted stock units and a subsequent sale of shares to cover tax obligations.

Summary

• Paul Griscom, SVP and Controller of Macy's, Inc., reported transactions involving the company's common stock.
• On March 28, 2026, 1,501 restricted stock units (RSUs) vested, converting into an equal number of common shares.
• Following the vesting, on March 30, 2026, Griscom sold 433 shares of common stock at a weighted average price of $17.744 per share.
• This sale was non-discretionary and solely intended to cover tax withholding obligations related to the RSU vesting.
• After these transactions, Griscom directly beneficially owns 32,341 shares of common stock and 3,002 unvested restricted stock units.
• The 6,003 restricted stock units were originally granted on March 28, 2024, and vest in four equal annual installments, with the reported vesting being the second installment.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive event. While there's a sale of shares, it's non-discretionary for tax purposes, and the underlying vesting of equity awards is a positive sign of ongoing executive compensation and alignment.

Positives

• The vesting of 1,501 restricted stock units indicates continued equity compensation for a key executive, aligning management's interests with shareholders.
• Paul Griscom retains a significant beneficial ownership of 32,341 common shares and 3,002 unvested restricted stock units, demonstrating ongoing commitment to the company.

Negatives

• The sale of 433 shares, while for tax purposes, reduces the executive's direct common stock holdings.

Future Outlook

The remaining 3,002 restricted stock units from the March 28, 2024 grant are expected to vest in two future equal annual installments, aligning with the original four-year vesting schedule.

Industry Context

StockSavvy.ai notes that routine insider transactions, such as the vesting of equity awards and subsequent tax-related sales, are common across all industries, particularly for senior executives receiving performance-based compensation. These transactions generally do not reflect a change in management's outlook on the company's prospects but rather a standard part of compensation and tax planning.

Comparison to Industry Standards

• This filing is a routine insider transaction report and does not provide data for comparison to industry-specific operational or financial benchmarks.
• It reflects standard executive compensation practices common across publicly traded companies like Kohl's or Nordstrom, where equity awards are a significant component of remuneration, often leading to similar tax-related sales upon vesting.

Related Party Transactions

• The vesting of restricted stock units and subsequent sale of shares by an SVP and Controller is a transaction between a company and a key executive, which is inherently a related-party transaction in the context of executive compensation.

Stakeholder Impact

• Shareholders: The vesting and partial sale of shares by a key executive is a routine event that generally has minimal direct impact on existing shareholders, though it reflects ongoing executive compensation practices.
• Employees: No direct impact on employees beyond the reporting person.

Next Steps

• Future vesting of the remaining 3,002 restricted stock units in two equal annual installments.

Key Dates

Recommendation

This Form 4 filing details a routine insider transaction involving the vesting of restricted stock units and a subsequent non-discretionary sale of shares to cover tax obligations. Such transactions are standard for executive compensation and do not typically signal a change in the company's fundamental outlook or warrant a change in investment recommendation. The executive continues to hold a substantial equity stake, indicating ongoing alignment with shareholder interests.

Keywords

Macy's, M, Paul Griscom, SEC Form 4, Insider Trading, Restricted Stock Units, Equity Compensation, Stock Sale, Tax Withholding, Corporate Governance