[Form 4] Macy's, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Danielle L. Kirgan, EVP and Chief HR Officer of Macy's, Inc. (M), reported a sale of 100,000 shares of Macy's common stock on 09/17/2025 at a reported price of $17.75 per share. After the transaction she is shown as beneficially owning 136,161 shares directly. The Form 4 was signed by an attorney-in-fact on 09/18/2025.

Positive

• None.

Negative

• Reported sale of 100,000 shares on 09/17/2025 at $17.75, reducing direct beneficial ownership to 136,161 shares

Insights

Securities Compliance Analyst

TL;DR: Routine insider sale disclosed; filing meets Section 16 reporting requirements.

The Form 4 documents a direct sale by an executive officer consistent with required insider reporting. It specifies transaction date, number of shares sold, sale price and post-transaction beneficial ownership. There is no indication in the filing of derivative transactions, amendments, or joint filers. From a compliance perspective the filing appears complete and timely based on the reported dates.

Corporate Governance Specialist

TL;DR: Executive share disposition disclosed; no additional context on purpose or related agreements.

The disclosure shows a single non-derivative disposal of 100,000 shares by an EVP. The form does not provide reasons for the sale, any related trading plans, or linked transactions. For governance review, the record is a straightforward Section 16 disclosure without further governance flags presented in the document itself.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Kirgan Danielle L.

(Last) (First) (Middle)

C/O MACY'S, INC.

151 WEST 34TH STREET

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Macy's, Inc. [ M ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief HR Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/17/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/17/2025		S		100,000	D	$17.75	136,161	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

	/s/ Steven R. Watts, as attorney-in-fact for Danielle L. Kirgan pursuant to a Power of Attorney	09/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Danielle L. Kirgan report on Macy's (M) Form 4?

The Form 4 reports a sale of 100,000 shares of Macy's common stock on 09/17/2025 at a reported price of $17.75 per share.

How many Macy's shares does Danielle L. Kirgan beneficially own after the transaction?

The filing shows 136,161 shares beneficially owned directly following the reported transaction.

What is Danielle L. Kirgan's role at Macy's as stated in the filing?

She is identified as an Executive Vice President, Chief HR Officer of Macy's, Inc.

When was the Form 4 signed and by whom?

The form was signed on 09/18/2025 by Steven R. Watts as attorney-in-fact for Danielle L. Kirgan pursuant to a Power of Attorney.

Does the Form 4 disclose any derivative transactions or amendments?

No. The filing contains only a non-derivative sale and shows no derivative transactions or amendment dates.