Macy's, Inc. — Director's Dealing 2025

Mar 31, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Macy's, Inc. (M)
CIK: 0000794367
Period of Report: 2025-03-27

Reporting Person: Spring Antony (Director, Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-03-27	Common Stock	A	13664	—	Acquired	294029.1058	Direct
2025-03-27	Common Stock	F	486	$13.18	Disposed	293543.1058	Direct
2025-03-28	Common Stock	S	4582	$12.7722	Disposed	288961.1058	Direct
2025-03-28	Common Stock	M	53151	—	Acquired	342112.1058	Direct
2025-03-31	Common Stock	S	20868	$12.6799	Disposed	321244.1058	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-03-28	Restricted Stock Units	$	M	53151	Disposed		Common Stock (53151)	Direct

Footnotes

F1: Settlement of performance restricted stock units granted March 24, 2023 following the 3-year (fiscal 2022 - 2024) performance period. Number includes 1,348 dividend shares accrued during the performance period.

F2: Withholding by Macy's, Inc. of 486 shares of common stock to satisfy reporting person's tax withholding obligation in connection with the vesting of accrued dividends on performance restricted stock units and delivery of common stock on March 27, 2025 and does not represent a discretionary transaction by the reporting person.

F3: Represents the number of shares sold by the reporting person to cover tax withholding obligations upon the vesting of performance restricted shares and does not represent a discretionary transaction by the reporting person.

F4: The price reported in Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $12.715 to $12.88, 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 sold at each separate price within the ranges set forth in this footnote to the Form 4.

F5: Each restricted stock unit represents the equivalent of one share of the Issuer's common stock.

F6: 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.

F7: The price reported in Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $12.565 to $12.765, 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 sold at each separate price within the ranges set forth in this footnote to the Form 4.

F8: On March 28, 2024, the reporting person was granted 212,606 restricted stock units vesting in four equal installments beginning on the first anniversary of the grant date.