Danielle L. Kirgan - 24 Mar 2023 Form 4 Insider Report for Macy's, Inc. (M)

Role: EVP, Chief Transformation & HR
Signature: /s/ Steven R. Watts, as attorney-in-fact for Danielle L. Kirgan pursuant to a Power of Attorney
Issuer symbol: M
Transactions as of: 24 Mar 2023
Net transactions value: -$192,269
Form type: 4
Filing time: 27 Mar 2023, 16:49:47 UTC
Previous filing: 24 Mar 2023
Next filing: 03 Apr 2023
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		+8,538	+3.2%		277,619	24 Mar 2023	Direct	F1
transaction	M	Common Stock	Tax liability	$73,841	-4,359	-1.6%	$16.94	273,260	24 Mar 2023	Direct	F2
transaction	M	Common Stock	Options Exercise		+13,694	+5%		286,954	25 Mar 2023	Direct	F1
transaction	M	Common Stock	Tax liability	$118,428	-6,991	-2.4%	$16.94	279,963	25 Mar 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	-8,538	-25%	$0.000000	25,617	24 Mar 2023	Common Stock	8,538		Direct	F1, F4
transaction	M	Restricted Stock Units	Options Exercise	$0	-13,694	-33%	$0.000000	27,389	25 Mar 2023	Common Stock	13,694		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 4,359 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 6,991 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 34,155 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 54,777 restricted stock units vesting in four equal installments beginning on the first anniversary of the grant date.