Macy's, Inc. — Director's Dealing 2023

Mar 27, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Macy's, Inc. (M)
CIK: 0000794367
Period of Report: 2023-03-24

Reporting Person: Kirgan Danielle L. (EVP, Chief Transformation & HR)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-03-24	Common Stock	M	8538	—	Acquired	277619	Direct
2023-03-24	Common Stock	F	4359	$16.94	Disposed	273260	Direct
2023-03-25	Common Stock	M	13694	—	Acquired	286954	Direct
2023-03-25	Common Stock	F	6991	$16.94	Disposed	279963	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-03-24	Restricted Stock Units	$	M	8538	Disposed		Common Stock (8538)	Direct
2023-03-25	Restricted Stock Units	$	M	13694	Disposed		Common Stock (13694)	Direct

Footnotes

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.