Elisa Garcia C. - Jul 9, 2023 Form 4 Insider Report for Macy's, Inc. (M)

Role: EVP, CLO and Secretary
Signature: /s/ Steven R. Watts, as attorney-in-fact for Elisa D. Garcia pursuant to a Power of Attorney
Stock symbol: M
Transactions as of: Jul 9, 2023
Transactions value $: -$245,743
Form type: 4
Date filed: 7/11/2023, 03:48 PM
Previous filing: Apr 3, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	M	Common Stock	Options Exercise		+31.7K	+22.09%		175K	Jul 9, 2023	Direct	F1
transaction	M	Common Stock	Sale	-$246K	-15.4K	-8.79%	$15.96^*	160K	Jul 10, 2023	Direct	F2, F3

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	-31.7K	-50%	$0.00	31.7K	Jul 9, 2023	Common Stock	31.7K		Direct	F1, F4

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

Explanation of Responses:

Id	Content
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.
F3	The price reported in Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $15.90 to $16.025, 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	On July 9, 2020, the reporting person was granted 126,696 restricted stock units vesting in four equal installments beginning on the first anniversary of the grant date.