Clark Richard 4

What Happened

Clark Richard, a director of Macy's, Inc. (M), received an award of 1,366 stock units on March 31, 2026. The units are recorded as a derivative award valued at $20.12 per unit, for a total reported value of $27,489. This transaction is an award/grant (code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-03-31; Form 4 filed: 2026-04-01 (timely filing).
• Grant: 1,366 stock units at a reported value of $20.12 each; total value $27,489.
• Security type: Derivative stock units that convert 1-for-1 into common shares (Footnote F1).
• Settlement: Units are to be settled in Macy's common stock upon the reporting person’s termination from the Board (Footnote F2).
• Valuation note: $20.12 is the average value of units granted each month during the quarter (Footnote F3).
• Shares owned after transaction: Not stated in this filing.
• This was a compensation award (grant), not a sale or market purchase.

Context

Derivative "stock units" like these are commonly used for director compensation; they do not represent immediately issued common shares and, per the filing, will be converted/settled into common stock upon the director’s departure from the board. Because this was an award rather than an open-market purchase or sale, it should be read as routine compensation disclosure rather than a direct signal of buying or selling intent.