Spring Antony 4

What Happened
Spring Antony, Chairman and CEO of Macy's, received equity awards and completed a small open‑market sale tied to tax obligations. On March 26, 2026 he acquired 103,984 shares from the settlement of performance restricted stock units (vested) and was granted 286,641 restricted stock units (RSUs) that vest in four equal annual installments. Macy’s withheld 6,092 shares to cover tax withholding on the vested PRSUs (a non‑discretionary withholding). Separately, Antony sold 41,450 shares in the open market on March 27, 2026 for a weighted average price of $17.91, generating about $742,457.

Key Details

• Transaction dates: March 26–27, 2026.
• Awards: 103,984 shares delivered (settlement of performance RSUs) and 286,641 RSUs granted (derivative award vesting over four years).
• Tax withholding/dispositions: 6,092 shares withheld by Macy’s to satisfy tax obligations (non‑discretionary); 41,450 shares sold in open market for ~$742,457 (weighted avg price $17.91; sales ranged $17.8350–$18.0350). The withholding of 6,092 shares generated ~$112,641 in value at $18.49 (reported as the withholding price).
• Footnotes: Settlement of performance RSUs granted 3/31/2023 after the 3‑year performance period included 11,932 dividend shares; several actions (withholding and some sales) were non‑discretionary to cover taxes. Each RSU equals one share.
• Shares owned after the transactions are not specified in this filing.
• Filing timeliness: The Form 4 was filed March 30, 2026; no late filing is indicated.

Context
These transactions primarily reflect compensation (vesting and a new RSU grant) and tax‑related share withholding/sales rather than a discretionary investment purchase or signal. The open‑market sale was used to cover tax obligations per footnotes and is described as non‑discretionary. For retail investors, awards increase insider exposure over time through future vesting schedules, while tax‑driven sales are common and do not necessarily indicate a view on the company’s prospects.