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

Macy's SVP and Controller, Paul Griscom, reported the settlement of performance restricted stock units, tax-related share dispositions, and a new RSU grant.

Summary

• Paul Griscom, SVP and Controller of Macy's, Inc., reported the acquisition of 10,392 shares of common stock on March 26, 2026, resulting from the settlement of performance restricted stock units (RSUs) granted on March 31, 2023. This amount includes 1,187 dividend shares accrued during the performance period.
• On March 26, 2026, 339 shares of common stock were withheld by Macy's, Inc. at a price of $18.49 to satisfy tax withholding obligations related to the RSU vesting.
• On March 27, 2026, Griscom sold 2,919 shares of common stock at a weighted average price of $17.9184 (with prices ranging from $17.8450 to $18.0300) to cover additional tax withholding obligations.
• Griscom also received a new grant of 6,489 restricted stock units on March 26, 2026, which will vest in four equal installments beginning on the first anniversary of the grant date.
• Following these transactions, Griscom's direct beneficial ownership stands at 31,273 shares of common stock and 6,489 restricted stock units.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a routine executive compensation and tax-related transaction. The settlement of performance-based RSUs is a positive indicator of past performance, and the new RSU grant aligns executive incentives with future company success.

Positives

• The settlement of performance restricted stock units indicates that performance targets for the fiscal 2023-2025 period were successfully met.
• The grant of new restricted stock units aligns the executive's long-term interests with the company's future performance.

Negatives

• A portion of shares were sold to cover tax obligations, which is a routine practice but results in a reduction of direct share ownership.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that executive compensation, particularly through equity awards like Restricted Stock Units (RSUs), is a standard practice across the retail industry. These filings provide transparency into how executive incentives are structured and how executives manage their equity holdings, which can be a signal of confidence or liquidity needs.

Stakeholder Impact

• Shareholders: Provides transparency into executive equity holdings and compensation structure. The sale of shares for tax purposes is a common event and not necessarily indicative of a lack of confidence.

Next Steps

• The newly granted 6,489 restricted stock units will vest in four equal installments, beginning on March 26, 2027 (the first anniversary of the grant date).

Key Dates

Recommendation

This Form 4 filing details routine executive compensation and tax-related stock transactions. It does not provide new fundamental information about Macy's business operations, financial performance, or strategic direction that would warrant a change in investment recommendation. The settlement of performance-based RSUs suggests past performance targets were met, and the new RSU grant aligns executive incentives, which are generally neutral to slightly positive factors. However, the sales are for tax purposes and not a discretionary move indicating a change in outlook. Therefore, a 'hold' recommendation is appropriate as this filing alone does not present a compelling reason to buy or sell.

Keywords

Macy's, M, Paul Griscom, SEC Form 4, Insider Trading, Restricted Stock Units, Executive Compensation, Stock Transactions