John T. Harper - Jul 9, 2021 Form 4 Insider Report for Macy's, Inc. (M)

Role: EVP, Chief Operations Officer
Signature: /s/ Steven R. Watts, as attorney-in-fact for John T. Harper pursuant to a Power of Attorney
Stock symbol: M
Transactions as of: Jul 9, 2021
Transactions value $: -$471,299
Form type: 4
Date filed: 7/13/2021, 04:07 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	M	Common Stock	Options Exercise		+47.5K	+105.43%		92.6K	Jul 9, 2021	Direct	F1
transaction	M	Common Stock	Sale	-$471K	-24.8K	-26.84%	$18.97	67.7K	Jul 12, 2021	Direct	F2, F3
holding	M	Common Stock						26K	Jul 9, 2021	By 401(k) Plan	F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	M	Restricted Stock Units	Options Exercise	$0	-47.5K	-25%	$0.00	143K	Jul 9, 2021	Common Stock	47.5K		Direct	F1, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	One-for-one conversion.
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 $18.905 to $19.005, 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 purchased at each separate price within the ranges set forth in this footnote to the Form 4.
F4	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 July 12, 2021 by $19.10, the stock price on such date.
F5	On July 9, 2020 the reporting person was granted 190,045 restricted stock units, vesting in four equal installments beginning on the first anniversary of the grant date.