Macy's, Inc. — Director's Dealing 2015

May 18, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Macy's, Inc. (M)
CIK: 0000794367
Period of Report: 2015-05-15

Reporting Person: HOGUET KAREN M (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-05-15	Common Stock	M	38970	$36.26	Acquired	227526	Direct
2015-05-15	Common Stock	S	38970	$64	Disposed	188556	Direct
2015-05-15	Common Stock	M	100000	$36.51	Acquired	288556	Direct
2015-05-15	Common Stock	S	25000	$64	Disposed	263556	Direct
2015-05-15	Common Stock	S	50000	$65	Disposed	213556	Direct
2015-05-15	Common Stock	S	25000	$66	Disposed	188556	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-05-15	Option to Purchase Common Stock	$36.26	M	38970	Disposed	2016-03-24	Common Stock (38970)	Direct
2015-05-15	Option to Purchase Common Stock	$36.51	M	100000	Disposed	2016-07-11	Common Stock (100000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2787	Indirect

Footnotes

F1: Reflects the reporting person's interest in Macy's stock under the Issuer's 401(k) plan, derived by dividing the value of the undivided interest of the reporting person in the applicable investment fund as of May 15, 2015 by $66.53, the stock price of such date.