Were Antony Spring's Macy's (M) share sales open-market trades?

Although coded as sales, the 3,024-share disposition is described as covering tax withholding obligations upon vesting of restricted shares. The company clarifies this does not represent a discretionary transaction by Antony Spring in the open market.

Macy's (M) CEO exercises 8,539 RSUs, sells 3,024 shares for tax

Q: What transactions did Macy's (M) CEO Antony Spring report in this Form 4?

Antony Spring reported exercising 8,539 restricted stock units into common stock and selling 3,024 common shares . The exercise occurred on March 24, 2026 , followed by the share sale on March 25, 2026 , according to the Form 4 data.

Q: How many Macy's (M) shares did Antony Spring sell and at what price?

Antony Spring sold 3,024 common shares of Macy's at a weighted average price of $18.7185 per share. Footnotes state these sales occurred in multiple trades between $18.68 and $18.76 per share.

Q: Why did Macy's (M) CEO Antony Spring sell 3,024 shares?

The 3,024 shares were sold solely to cover tax withholding obligations tied to the vesting of restricted shares. The company specifies that this was not a discretionary transaction by Spring but a tax-related requirement.

Q: What restricted stock units did Antony Spring exercise at Macy's (M)?

Spring exercised 8,539 restricted stock units , each representing one share of common stock, at a conversion price of $0.00 per unit. A footnote notes these units came from a grant of 34,155 restricted stock units awarded on March 24, 2022 .

Filing Impact

(Neutral)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Macy's, Inc. Chairman & CEO Antony Spring exercised restricted stock units and handled related taxes through share sales. On March 24, 2026, he converted 8,539 restricted stock units into the same number of common shares at a conversion price of $0.00 per share.

On March 25, 2026, Spring sold 3,024 common shares at a weighted average price of $18.7185 per share to cover tax withholding obligations, which the company notes was not a discretionary transaction. After these moves, he directly holds about 341,113.1058 common shares.

Insider Trade Summary

Net Seller: 3,024 shares ($56,605)

Net Sell 3 txns

Insider Spring Antony

Role Chairman & CEO

Sold 3,024 shs ($57K)

Type	Security	Shares	Price	Value
Sale	Common Stock	3,024	$18.7185	$57K
Exercise	Restricted Stock Units	8,539	$0.00	--
Exercise	Common Stock	8,539	$0.00	--

Holdings After Transaction: Common Stock — 341,113.106 shares (Direct); Restricted Stock Units — 0 shares (Direct)

Footnotes (1)

Each restricted stock unit represents the equivalent of one share of the Issuer's common stock. Represents the number of shares sold by the reporting person to cover tax withholding obligations upon the vesting of restricted shares and does not represent a discretionary transaction by the reporting person. The price reported in Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $18.68 to $18.76, inclusive. The reporting person undertakes to provide to Macy's, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to the Form 4. On 3/24/2022, the reporting person was granted 34,155 restricted stock units vesting in four equal installments beginning on the first anniversary of the grant date.

Form 4 Insider Transactions: What Each Field Means →

03/26/2026 - 04:24 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Spring Antony

(Last)

(First)

(Middle)

C/O MACY'S, INC.

151 WEST 34TH STREET

(Street)

NEW YORK

10001

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Macy's, Inc. [ M ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chairman & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/24/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/24/2026		M		8,539	A	$0⁽¹⁾	344,137.1058	D
Common Stock	03/25/2026		S		3,024⁽²⁾	D	$18.7185⁽³⁾	341,113.1058	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽¹⁾	03/24/2026		M			8,539	⁽⁴⁾	⁽⁴⁾	Common Stock	8,539	$0	0	D

Explanation of Responses:

1. Each restricted stock unit represents the equivalent of one share of the Issuer's common stock.

2. Represents the number of shares sold by the reporting person to cover tax withholding obligations upon the vesting of restricted shares and does not represent a discretionary transaction by the reporting person.

3. The price reported in Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $18.68 to $18.76, inclusive. The reporting person undertakes to provide to Macy's, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to the Form 4.

4. On 3/24/2022, the reporting person was granted 34,155 restricted stock units vesting in four equal installments beginning on the first anniversary of the grant date.

Remarks:

	/s/ Steven R. Watts, as attorney-in-fact for Antony Spring pursuant to a Power of Attorney	03/26/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What transactions did Macy's (M) CEO Antony Spring report in this Form 4?

Antony Spring reported exercising 8,539 restricted stock units into common stock and selling 3,024 common shares. The exercise occurred on March 24, 2026, followed by the share sale on March 25, 2026, according to the Form 4 data.

How many Macy's (M) shares did Antony Spring sell and at what price?

Antony Spring sold 3,024 common shares of Macy's at a weighted average price of $18.7185 per share. Footnotes state these sales occurred in multiple trades between $18.68 and $18.76 per share.

Why did Macy's (M) CEO Antony Spring sell 3,024 shares?

The 3,024 shares were sold solely to cover tax withholding obligations tied to the vesting of restricted shares. The company specifies that this was not a discretionary transaction by Spring but a tax-related requirement.

How many Macy's (M) shares does Antony Spring hold after these transactions?

After the reported transactions, Antony Spring directly holds 341,113.1058 common shares of Macy's. This figure reflects his position following the 8,539-share restricted stock unit conversion and the 3,024-share tax-related sale.

What restricted stock units did Antony Spring exercise at Macy's (M)?

Spring exercised 8,539 restricted stock units, each representing one share of common stock, at a conversion price of $0.00 per unit. A footnote notes these units came from a grant of 34,155 restricted stock units awarded on March 24, 2022.