Form 4: Nordstrom CEO Erik B. Nordstrom Reports Beneficial Ownership and Joins 10% Owner Group

Erik B. Nordstrom, CEO of Nordstrom Inc., files Form 4 to report beneficial ownership and indicate membership in a 10% owner group.

Summary

• Erik B. Nordstrom, the CEO of Nordstrom Inc., filed a Form 4 with the SEC on September 13, 2024.
• The filing reports Mr. Nordstrom's beneficial ownership of Nordstrom Inc. shares.
• The filing indicates that Mr. Nordstrom has become a member of a 10% owner group of Nordstrom Inc.
• Mr. Nordstrom directly owns 2,706,037 shares of common stock.
• He indirectly owns 29,884 shares through a 401(k) plan, 42,646 shares through his wife, 6,935,360 shares as trustee of the FWN Trust, 1,555,200 shares as trustee of the EN Trust, and other shares as trustee of other trusts.
• No transactions are being reported in this filing; it is solely to reflect holdings and the 10% owner group status.
• Mr. Nordstrom has granted Peter E. Nordstrom and Charles W. Riley, Jr. power of attorney to handle SEC filings related to Nordstrom Inc. securities.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing and does not convey any particularly positive or negative sentiment. It simply reports ownership information.

Positives

• The filing provides transparency regarding the CEO's ownership stake in the company.
• The CEO's significant ownership stake could align his interests with those of other shareholders.

Future Outlook

The document does not contain any specific forward-looking statements regarding the company's future performance.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the holdings and transactions of company insiders. This filing is consistent with standard practices for publicly traded companies.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies, ensuring transparency regarding insider ownership.
• Similar filings are made by executives at comparable companies like Macy's (M), Kohl's (KSS), and Dillard's (DDS) to disclose their holdings and transactions in company stock.
• The level of detail provided in this Form 4 is consistent with industry norms for such filings.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the CEO's ownership stake.
• It assures stakeholders that the CEO's interests are aligned with theirs through significant stock ownership.

Key Dates