Macy's (M) CEO Antony Spring exercises RSUs, sells shares to cover taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Macy's, Inc. Chairman & CEO Antony Spring reported routine equity compensation activity. He exercised restricted stock units into 28,588 shares of common stock at a conversion price of $0.00 per share. On the following day, he sold 14,606 shares at a weighted average price of $18.0765 per share solely to cover tax withholding obligations, which the filing notes was not a discretionary transaction. After these moves, he directly holds about 437,238 shares of Macy's common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 14,606 shares ($264,025)
Net Sell
3 txns
Insider
Spring Antony
Role
Chairman & CEO
Sold
14,606 shs ($264K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 14,606 | $18.0765 | $264K |
| Exercise | Restricted Stock Units | 28,588 | $0.00 | -- |
| Exercise | Common Stock | 28,588 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 437,238.106 shares (Direct);
Restricted Stock Units — 28,588 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 $18.00 to $18.19, 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 3/31/2023, the reporting person was granted 114,351 restricted stock units vesting in four equal installments beginning on the first anniversary of the grant date.
Key Figures
Shares sold: 14,606 shares
Sale price: $18.0765 per share
RSUs exercised: 28,588 units
+2 more
5 metrics
Shares sold
14,606 shares
Common stock sold on 2026-04-01 to cover tax withholding
Sale price
$18.0765 per share
Weighted average sale price; trades between $18.00 and $18.19
RSUs exercised
28,588 units
Restricted stock units converted to common stock at $0.00
Post-transaction holdings
437,238.1058 shares
Direct Macy’s common stock held after transactions
Original RSU grant
114,351 units
Grant dated 3/31/2023, vesting in four equal installments
Key Terms
Restricted Stock Units, tax withholding obligations, weighted average price, derivative security, +1 more
5 terms
Restricted Stock Units financial
"On 3/31/2023, the reporting person was granted 114,351 restricted stock units vesting in four equal installments"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax withholding obligations financial
"Represents the number of shares sold by the reporting person to cover tax withholding obligations upon the vesting of restricted shares"
weighted average price financial
"The price reported in Column 4 is the weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
vesting financial
"restricted stock units vesting in four equal installments beginning on the first anniversary of the grant date"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
FAQ
What did Macy's (M) CEO Antony Spring report in this Form 4?
Antony Spring reported routine equity compensation activity, including exercising 28,588 restricted stock units into common shares and selling 14,606 shares to cover tax withholding obligations. The filing shows these transactions adjusted, but did not eliminate, his existing Macy’s share ownership.
Was Antony Spring’s Macy's (M) stock sale a discretionary open-market transaction?
The Form 4 states the 14,606 shares sold by Antony Spring were to cover tax withholding obligations upon vesting of restricted shares. It explicitly notes this was not a discretionary transaction, distinguishing it from a voluntary open-market sale motivated by investment views.
What happened to Antony Spring’s restricted stock units in Macy's (M)?
Antony Spring exercised 28,588 restricted stock units, each representing one share of Macy’s common stock, at a conversion price of $0.00 per unit. These units stem from a 114,351-unit grant dated March 31, 2023, vesting in four equal annual installments beginning on the first anniversary.