Spring Antony 4

What Happened

• Spring Antony, Chairman & CEO of Macy's (M), had 53,152 restricted stock units convert to common shares on March 28, 2026 (reported as an exercise/conversion at $0.00). Following the vesting/conversion, 27,451 shares were sold in the open market on March 30, 2026 at a weighted-average price of $17.73, generating approximately $486,800. The filing also records a related disposition of 53,152 derivative shares on March 28 in connection with the conversion/settlement.

Key Details

• Transaction dates and prices:
  • 2026-03-28: Exercise/conversion — 53,152 shares acquired @ $0.00.
  • 2026-03-28: Related disposition of 53,152 derivative shares @ $0.00 (reported as derivative activity).
  • 2026-03-30: Open-market sale — 27,451 shares disposed @ weighted avg $17.73 (range $17.5450–$17.8850) for ~$486,800. (Footnote indicates weighted-average price and range.)
• Shares owned after transaction: Not specified in this Form 4.
• Notable footnotes:
  • F1: Each restricted stock unit equals one share.
  • F2: The shares sold represent the number sold to cover tax withholding upon vesting and are not a discretionary sale by the reporting person.
  • F3: Sale price is a weighted average; per-share sales ranged $17.5450–$17.8850.
  • F4: The 53,152 vested shares are one installment from a 3/28/2024 grant of 212,606 RSUs vesting in four equal installments.
• Filing timeliness: Transactions dated March 28 (period of report) were filed March 31, 2026 — appears to be within the typical Form 4 reporting window.

Context

• These entries reflect RSU vesting and conversion into shares, followed by a partial sale. The sale (per footnote) was to satisfy tax withholding obligations tied to the vesting and is not a discretionary trade, so it should not be interpreted as a directional bet by the insider. Conversions at $0.00 indicate settlement of restricted stock units rather than purchase of options.