Jeffrey Gennette - Mar 24, 2023 Form 4 Insider Report for Macy's, Inc. (M)

Role: Chairman and CEO, Director
Signature: /s/ Steven R. Watts, as attorney-in-fact for Jeffrey Gennette pursuant to a Power of Attorney
Stock symbol: M
Transactions as of: Mar 24, 2023
Transactions value $: -$894,466
Form type: 4
Date filed: 3/27/2023, 04:27 PM
Previous filing: Mar 24, 2023
Next filing: Apr 3, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	M	Common Stock	Options Exercise		+40.3K	+5.06%		837K	Mar 24, 2023	Direct	F1
transaction	M	Common Stock	Tax liability	-$378K	-22.3K	-2.66%	$16.94	814K	Mar 24, 2023	Direct	F2
transaction	M	Common Stock	Options Exercise		+55.2K	+6.77%		870K	Mar 25, 2023	Direct	F1
transaction	M	Common Stock	Tax liability	-$517K	-30.5K	-3.51%	$16.94	839K	Mar 25, 2023	Direct	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	-40.3K	-25%	$0.00	121K	Mar 24, 2023	Common Stock	40.3K		Direct	F1, F4
transaction	M	Restricted Stock Units	Options Exercise	$0	-55.2K	-33.33%	$0.00	110K	Mar 25, 2023	Common Stock	55.2K		Direct	F1, F5

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

Explanation of Responses:

Id	Content
F1	Each restricted stock unit represents the equivalent of one share of the Issuer's common stock.
F2	Withholding by Macy's, Inc. of 22,299 shares of common stock to satisfy reporting person's tax withholding obligation in connection with the vesting of restricted stock units and delivery of common stock on March 24, 2023 and does not represent a discretionary transaction by the reporting person.
F3	Withholding by Macy's, Inc. of 30,503 shares of common stock to satisfy reporting person's tax withholding obligation in connection with the vesting of restricted stock units and delivery of common stock on March 25, 2023 and does not represent a discretionary transaction by the reporting person.
F4	On March 24, 2022, the reporting person was granted 161,290 restricted stock units vesting in four equal installments beginning on the first anniversary of the grant date.
F5	On March 25, 2021, the reporting person was granted 220,632 restricted stock units vesting in four equal installments beginning on the first anniversary of the grant date.