MARKEE RICHARD L 4

What Happened
Richard L. Markee, a director of Macy's, received an award of 1,366 stock units (reported as a derivative acquisition) on March 31, 2026. The units are valued at an average of $20.12 each, for a total reported value of $27,489. This was a grant/award (not an open-market purchase or sale).

Key Details

• Transaction date: 2026-03-31; filing date: 2026-04-01 (appears timely for a March 31 transaction).
• Instrument: 1,366 stock units (derivative) at $20.12 per unit; total value $27,489.
• Conversion/settlement: Units convert 1-for-1 to common stock (Footnote F1) and are to be settled in common stock upon the reporting person's termination from the Board (Footnote F2).
• Valuation note: The $20.12 price is the average value of units granted each month during the quarter (Footnote F3).
• Shares owned after transaction: Not specified in the information provided on this filing.

Context
This is a director compensation grant (award of stock units) rather than a market purchase or sale. The units are a deferred/derivative form of equity that will be converted to common shares when the director leaves the board, so it does not represent immediate common-stock ownership or a near-term sale. Such grants are common for board compensation and should be viewed as non-market compensation rather than a direct bullish or bearish signal.