Macy's HR chief sells shares to cover taxes
Macy's, Inc. executive vice president and chief human resources officer Danielle L. Kirgan had restricted stock units convert into 11,256 shares of common stock.
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Form Type
4
Rhea-AI Filing Summary
Macy's, Inc. executive vice president and chief human resources officer Danielle L. Kirgan had restricted stock units convert into 11,256 shares of common stock. She then sold 5,161 shares at a weighted average price of $17.7322 solely to cover tax withholding obligations. After these transactions, she directly holds 92,008 common shares and 22,511 restricted stock units, indicating a routine compensation-related vesting and associated tax sale rather than a discretionary reduction in her equity position.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
3 txns
Insider
Kirgan Danielle L.
Role
EVP, Chief HR Officer
Sold
5,161 shs ($92K)
Approx. gross sale proceeds
$92K
Approx. exercise cost
$0.00
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 5,161 | $17.7322 | $92K |
| Exercise | Restricted Stock Units | 11,256 | $0.00 | $0.00 |
| Exercise | Common Stock | 11,256 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units — 22,511 contracts (Direct);
Common Stock — 92,008 shares (Direct)
Footnotes (4)
- F1. Each restricted stock unit represents the equivalent of one share of the Issuer's common stock.
- F2. 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.
- F3. The price reported in Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $17.5550 to $17.8850, 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.
- F4. On March 28, 2024, the reporting person was granted 45,022 restricted stock units vesting in four equal installments beginning on the first anniversary of the grant date.
Key Figures
Shares sold for taxes: 5,161 shares
Weighted average sale price: $17.7322 per share
RSUs vested and converted: 11,256 units/shares
+4 more
7 metrics
Shares sold for taxes
5,161 shares
Common stock sold to cover tax withholding obligations
Weighted average sale price
$17.7322 per share
Average price for 5,161 Macy’s shares sold
RSUs vested and converted
11,256 units/shares
Restricted stock units converting into common stock
Common shares held after transactions
92,008 shares
Direct Macy’s common stock ownership post-transaction
RSUs outstanding after transactions
22,511 units
Restricted stock units remaining after vesting event
Sale price range
$17.5550–$17.8850 per share
Range of prices for multiple sale transactions
Original RSU grant
45,022 units
RSUs granted on March 28, 2024, vesting in four installments
Key Terms
Restricted Stock Units, tax withholding obligations, weighted average price, derivative security, +1 more
5 terms
Restricted Stock Units financial
"On March 28, 2024, the reporting person was granted 45,022 restricted stock units vesting in four equal installments"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax withholding obligations financial
"Represents the number of shares sold by the reporting person to cover tax withholding obligations upon the vesting of restricted shares"
weighted average price financial
"The price reported in Column 4 is the weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
derivative security financial
"Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
vest financial
"granted 45,022 restricted stock units vesting in four equal installments beginning on the first anniversary"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did Macy's (M) EVP Danielle Kirgan report?
Danielle Kirgan reported RSU vesting into 11,256 Macy's shares and the sale of 5,161 shares. The sale was made to cover tax withholding obligations tied to the vesting, and not as a discretionary open-market trade.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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