C. Elisa D. Garcia - 09 Jul 2021 Form 4 Insider Report for Macy's, Inc. (M)

Role: EVP, CLO & Secretary
Signature: /s/ Steven R. Watts, as attorney-in-fact for Elisa D. Garcia pursuant to a Power of Attorney
Issuer symbol: M
Transactions as of: 09 Jul 2021
Net transactions value: -$269,665
Form type: 4
Filing time: 13 Jul 2021, 14:51:46 UTC
Next filing: 25 Mar 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	M	Common Stock	Options Exercise		+31,674	+119%		58,273	09 Jul 2021	Direct	F1
transaction	M	Common Stock	Sale	$269,665	-14,217	-24%	$18.97	44,056	12 Jul 2021	Direct	F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	M	Restricted Stock Units	Options Exercise	$0	-31,674	-25%	$0.000000	95,022	09 Jul 2021	Common Stock	31,674		Direct	F1, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	One-for-one conversion.
F2	Represents the number of shares sold by the reporting person to cover tax withholding obligations upon the vesting of restricted shares and does not represent a discretionary transaction by the reporting person.
F3	The price reported in Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $18.9050 to $19.01, inclusive. The reporting person undertakes to provide to Macy's, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote to the Form 4.
F4	On July 9, 2020 the reporting person was granted 126,696 restricted stock units, vesting in four equal installments beginning on the first anniversary of the grant date.