Peter E. Nordstrom - 06 Mar 2023 Form 4 Insider Report for NORDSTROM INC (JWN)

Reporting relationship: Pres. & Chief Brand Officer, Director
Issuer ticker: JWN
Reported as of: 06 Mar 2023
Net transaction value: $0
SEC form: 4
Accepted by SEC: 08 Mar 2023, 19:39:58 UTC
Prior SEC filing: 21 Dec 2022
Next SEC filing: 11 Dec 2023
Source filing: View source filing
Reporting owner signature: Brian B. DeFoe, Attorney-in-Fact for Peter E. Nordstrom

Key filing fact

Peter E. Nordstrom filed Form 4 for NORDSTROM INC (JWN) on 08 Mar 2023.

Key facts

This page summarizes Peter E. Nordstrom's Form 4 filing for NORDSTROM INC (JWN).
2 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 08 Mar 2023, 19:39.

Change

Previous filing in this sequence was filed on 21 Dec 2022.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

JWN holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 36,436
Date: 06 Mar 2023
Ownership: By 401(k) Plan, per Plan statement dated 2/28/2023

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

JWN transaction Derivative

Performance Share Units

Award

Transaction value: $0
Shares: +96,958
Change %
Price: $0.000000
Shares after: 96,958
Date: 06 Mar 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 96,958
Exercise price
Footnotes: F1, F2

JWN transaction Derivative

Employee Stock Option (right to buy)

Award

Transaction value: $0
Shares: 0
Change %
Price: $19.63
Shares after: 0
Date: 06 Mar 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 0
Exercise price: $19.63
Footnotes: F3, F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote F1

Each Performance Share Unit (PSU) represents a contingent right to receive 1 share of the Company's common stock. The PSUs may be earned over a 3-year period from FY 2023 through FY 2025, depending on the achievement of certain metrics. The number of PSUs awarded is a function of base pay, a PSU LTI percentage and the fair value of a PSU. The fair value of a PSU is calculated as the stock price as of the effective date less the present value of Company stock dividends over the vesting period. This calculation requires the input of certain assumptions, including the risk-free interest rate and the expected Company stock dividends. The formula for determining the number of PSUs granted is: number of PSUs = (base pay x PSU LTI%) / PSU fair value. The percentage of PSUs granted that will actually be earned at the end of the three-year period is based upon the Company's cumulative sales and earnings before interest and tax ("EBIT") margin results over the same period.

Footnote F2

The minimum percentage of PSUs that can be earned at the end of the three year performance cycle is 75% and the maximum is 150%.

Footnote F3

Granted under the issuer's 2019 Equity Incentive Plan, exercisable 50% on March 10, 2026 and 50% on March 10, 2027.

Footnote F4

The number of options granted is not known at this time. The number is calculated as a function of certain assumptions, including risk-free interest rate, volatility, expected dividend yield, and expected life. The formula for determining the number of options granted is: (base pay x Option LTI%)/option fair value. This Form 4 will be amended to report the number of options granted when that number has been calculated.