Spring Antony 4

What Happened

• Spring Antony, Chairman & CEO of Macy's, converted/exercised 8,539 restricted stock units (RSUs) on 2026-03-24 (no exercise price), and a portion of the resulting shares were sold. On 2026-03-25 he disposed of 3,024 shares in an open-market sale at a weighted average price of $18.72, generating proceeds of $56,605. The conversion/vesting and sale appear to be related: the filing shows the RSUs converted into shares and then shares sold to cover tax withholding.

Key Details

• Transaction dates/prices:
  • 2026-03-24: Conversion/exercise of 8,539 RSUs into shares (price reported $0.00 — typical for RSU vesting).
  • 2026-03-25: Open-market sale of 3,024 shares at a weighted average price of $18.72 (sales ranged $18.68–$18.76).
• Proceeds: ~$56,605 from the 3,024-share sale.
• Shares owned after transaction: Not stated in this Form 4 filing.
• Notable footnotes:
  • F1: Each RSU equals one share of common stock.
  • F2: The 3,024-share sale was to cover tax withholding obligations upon vesting and “does not represent a discretionary transaction.”
  • F3: Weighted-average sale price reported; multiple trade prices ranged $18.68–$18.76.
  • F4: The RSUs came from a grant on 3/24/2022 for 34,155 RSUs vesting in four equal installments (8,539 per installment).
• Filing timeliness: Form filed 2026-03-26 reporting transactions on 3/24–3/25; this appears to be timely (filed within the usual two-business-day Form 4 window).

Context

• These transactions reflect RSU vesting and routine tax-withholding sales rather than an open-market, discretionary sell for investment reasons. When executives sell only to cover taxes following vesting, it’s usually procedural rather than a signal about the executive’s view of the stock.
• For retail investors: purchases and discretionary sales can be more informative about insider sentiment. Conversions/vestings with tax-withholding sales are common and typically administrative.