Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-01

Macy's (M)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$14,104,067
Tony Spring total, FY2025
21st
CEO pay percentile vs peers
368:1
CEO-to-median pay ratio
78.56%
Say-on-pay support, latest vote
Companies that benchmark against M
9 companies name M as a compensation peer

Each company listed discloses M in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named M in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Tony Spring$1,337,500$0$9,007,868$0$3,241,620$311,392$205,687$14,104,067
Chairman and Chief Executive Officer
Thomas Edwards515,1521,650,0004,106,7480744,156007,016,056
Chief Operating Officer and Chief Financial Officer
Adrian Mitchell374,242000641,57104,671,0995,686,912
Former Chief Operating Officer and Chief Financial Officer
Olivier Bron868,750500,0002,201,03701,164,870021,7054,756,362
Chief Executive Officer, Bloomingdale's
Danielle Kirgan850,00002,051,56701,020,510036,7703,958,847
Chief Human Resources Officer and Chief Corporate Affairs Officer
Tracy Preston775,00001,451,0350697,849019,3882,943,272
Chief Legal Officer and Corporate Secretary

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Tony Spring$14,104,067$16,452,108$5,663,256−2,348,041
Thomas Edwards7,016,056
Adrian Mitchell5,686,912
Olivier Bron4,756,362
Danielle Kirgan3,958,8473,488,6683,123,894+470,179
Tracy Preston2,943,272

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Danielle KirganEVP, Chief HR Officer2026-03-31D12,864$0$0Derivative, Class A CommonForm 4 ↗
Tony SpringDirector2026-03-31D14,60618264,025CommonForm 4 ↗
Danielle KirganEVP, Chief HR Officer2026-03-31D6,57318118,817CommonForm 4 ↗
Paul GriscomSVP and Controller2026-03-31A1,715CommonForm 4 ↗
Tony SpringDirector2026-03-31D28,58800Derivative, Class A CommonForm 4 ↗
Douglas W. SeslerDirector2026-03-31A1,3662027,489Derivative, Class A CommonForm 4 ↗
Richard L. MarkeeDirector2026-03-31A1,3662027,489Derivative, Class A CommonForm 4 ↗
Richard ClarkDirector2026-03-31A1,3662027,489Derivative, Class A CommonForm 4 ↗
Danielle KirganEVP, Chief HR Officer2026-03-31A12,864CommonForm 4 ↗
Paul GriscomSVP and Controller2026-03-31D490188,857CommonForm 4 ↗
Tony SpringDirector2026-03-31A28,588CommonForm 4 ↗
Dividend-equivalent accruals2026-03-311,7151 insider, 1 accrual row
Tracy PrestonEVP, CLO & Corporate Secretary2026-04-03D13,14600Derivative, Class A CommonForm 4 ↗
Olivier BronCEO, Bloomingdale's2026-04-03A13,146CommonForm 4 ↗
Danielle KirganEVP, Chief HR Officer2026-04-03A19,719CommonForm 4 ↗
Danielle KirganEVP, Chief HR Officer2026-04-03D10,01018179,408CommonForm 4 ↗
Danielle KirganEVP, Chief HR Officer2026-04-03D19,71900Derivative, Class A CommonForm 4 ↗
Tracy PrestonEVP, CLO & Corporate Secretary2026-04-03A13,146CommonForm 4 ↗
Tracy PrestonEVP, CLO & Corporate Secretary2026-04-03D5,2711894,481CommonForm 4 ↗
Tony SpringDirector2026-04-03D50,04418896,984CommonForm 4 ↗
Tony SpringDirector2026-04-03D98,59700Derivative, Class A CommonForm 4 ↗
Olivier BronCEO, Bloomingdale's2026-04-03D13,14600Derivative, Class A CommonForm 4 ↗
Olivier BronCEO, Bloomingdale's2026-04-03D7,22818129,555CommonForm 4 ↗
Paul GriscomSVP and Controller2026-04-03A2,629CommonForm 4 ↗
Paul GriscomSVP and Controller2026-04-03D7451813,353CommonForm 4 ↗
Tony SpringDirector2026-04-03A98,597CommonForm 4 ↗
Paul GriscomSVP and Controller2026-04-03D2,62900Derivative, Class A CommonForm 4 ↗
Jill GranoffDirector2026-06-05A8,34800Derivative, Class A CommonForm 4 ↗
Torrence N. BooneDirector2026-06-05A8,34800Derivative, Class A CommonForm 4 ↗
Richard L. MarkeeDirector2026-06-05A8,34800Derivative, Class A CommonForm 4 ↗
Deirdre P. ConnellyDirector2026-06-05A8,34800Derivative, Class A CommonForm 4 ↗
Robert B. ChavezDirector2026-06-05A8,34800Derivative, Class A CommonForm 4 ↗
Emilie ArelDirector2026-06-05A8,34800Derivative, Class A CommonForm 4 ↗
Paul C. VargaDirector2026-06-05A8,34800Derivative, Class A CommonForm 4 ↗
Naveen K. ChopraDirector2026-06-05A8,34800Derivative, Class A CommonForm 4 ↗
Marie ChandohaDirector2026-06-05A8,34800Derivative, Class A CommonForm 4 ↗
Thomas EdwardsEVP, COO & CFO2026-06-23D36,41900Derivative, Class A CommonForm 4 ↗
Thomas EdwardsEVP, COO & CFO2026-06-23A36,419CommonForm 4 ↗
Thomas EdwardsEVP, COO & CFO2026-06-23D16,41925408,726CommonForm 4 ↗
Paul GriscomSVP and Controller2026-06-25D10,07726258,278CommonForm 4 ↗
Richard L. MarkeeDirector2026-06-30A1,3222127,506Derivative, Class A CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

View all 41 transactions
InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Danielle KirganEVP, Chief HR Officer2026-03-31D12,864$0$0Derivative, Class A CommonForm 4 ↗
Tony SpringDirector2026-03-31D14,60618264,025CommonForm 4 ↗
Danielle KirganEVP, Chief HR Officer2026-03-31D6,57318118,817CommonForm 4 ↗
Paul GriscomSVP and Controller2026-03-31A1,715CommonForm 4 ↗
Tony SpringDirector2026-03-31D28,58800Derivative, Class A CommonForm 4 ↗
Douglas W. SeslerDirector2026-03-31A1,3662027,489Derivative, Class A CommonForm 4 ↗
Richard L. MarkeeDirector2026-03-31A1,3662027,489Derivative, Class A CommonForm 4 ↗
Richard ClarkDirector2026-03-31A1,3662027,489Derivative, Class A CommonForm 4 ↗
Danielle KirganEVP, Chief HR Officer2026-03-31A12,864CommonForm 4 ↗
Paul GriscomSVP and Controller2026-03-31D490188,857CommonForm 4 ↗
Tony SpringDirector2026-03-31A28,588CommonForm 4 ↗
Paul GriscomSVP and Controller2026-03-31D1,71500Derivative, Class A CommonForm 4 ↗
Tracy PrestonEVP, CLO & Corporate Secretary2026-04-03D13,14600Derivative, Class A CommonForm 4 ↗
Olivier BronCEO, Bloomingdale's2026-04-03A13,146CommonForm 4 ↗
Danielle KirganEVP, Chief HR Officer2026-04-03A19,719CommonForm 4 ↗
Danielle KirganEVP, Chief HR Officer2026-04-03D10,01018179,408CommonForm 4 ↗
Danielle KirganEVP, Chief HR Officer2026-04-03D19,71900Derivative, Class A CommonForm 4 ↗
Tracy PrestonEVP, CLO & Corporate Secretary2026-04-03A13,146CommonForm 4 ↗
Tracy PrestonEVP, CLO & Corporate Secretary2026-04-03D5,2711894,481CommonForm 4 ↗
Tony SpringDirector2026-04-03D50,04418896,984CommonForm 4 ↗
Tony SpringDirector2026-04-03D98,59700Derivative, Class A CommonForm 4 ↗
Olivier BronCEO, Bloomingdale's2026-04-03D13,14600Derivative, Class A CommonForm 4 ↗
Olivier BronCEO, Bloomingdale's2026-04-03D7,22818129,555CommonForm 4 ↗
Paul GriscomSVP and Controller2026-04-03A2,629CommonForm 4 ↗
Paul GriscomSVP and Controller2026-04-03D7451813,353CommonForm 4 ↗
Tony SpringDirector2026-04-03A98,597CommonForm 4 ↗
Paul GriscomSVP and Controller2026-04-03D2,62900Derivative, Class A CommonForm 4 ↗
Jill GranoffDirector2026-06-05A8,34800Derivative, Class A CommonForm 4 ↗
Torrence N. BooneDirector2026-06-05A8,34800Derivative, Class A CommonForm 4 ↗
Richard L. MarkeeDirector2026-06-05A8,34800Derivative, Class A CommonForm 4 ↗
Deirdre P. ConnellyDirector2026-06-05A8,34800Derivative, Class A CommonForm 4 ↗
Robert B. ChavezDirector2026-06-05A8,34800Derivative, Class A CommonForm 4 ↗
Emilie ArelDirector2026-06-05A8,34800Derivative, Class A CommonForm 4 ↗
Paul C. VargaDirector2026-06-05A8,34800Derivative, Class A CommonForm 4 ↗
Naveen K. ChopraDirector2026-06-05A8,34800Derivative, Class A CommonForm 4 ↗
Marie ChandohaDirector2026-06-05A8,34800Derivative, Class A CommonForm 4 ↗
Thomas EdwardsEVP, COO & CFO2026-06-23D36,41900Derivative, Class A CommonForm 4 ↗
Thomas EdwardsEVP, COO & CFO2026-06-23A36,419CommonForm 4 ↗
Thomas EdwardsEVP, COO & CFO2026-06-23D16,41925408,726CommonForm 4 ↗
Paul GriscomSVP and Controller2026-06-25D10,07726258,278CommonForm 4 ↗
Richard L. MarkeeDirector2026-06-30A1,3222127,506Derivative, Class A CommonForm 4 ↗
03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Danielle KirganPRSU$2,051,567
Thomas EdwardsPRSU4,106,748
Tracy PrestonPRSU1,451,035
Olivier BronPRSU2,201,037
Tony SpringPRSU9,007,868
03b

Vehicle mix — grant-date fair value by award type

Grant-level vehicle detail not disclosed.

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Olivier BronPSU52,585$1,052,752
Olivier BronRSU22,512450,690
Tracy PrestonPSU52,5851,052,752
Adrian MitchellRSU47,170944,343
Thomas EdwardsPSU145,6762,916,434
Danielle KirganRSU78,8781,579,138
Olivier BronPSU30,015600,900
Tony SpringPSU394,3907,895,688
Tracy PrestonPSU30,015600,900
Tracy PrestonRSU22,512450,690
Tony SpringPSU150,0753,004,502
Tony SpringPSU212,6064,256,372
Tony SpringRSU394,3907,895,688
Tony SpringRSU159,4553,192,289
Thomas EdwardsRSU145,6762,916,434
Adrian MitchellPSU82,5411,652,471
Danielle KirganPSU78,8781,579,138
Olivier BronRSU52,5851,052,752
Tony SpringRSU50,0251,001,501
Tony SpringRSU57,1761,144,664
Tracy PrestonRSU52,5851,052,752
Danielle KirganPSU45,022901,340
Danielle KirganRSU25,729515,095
Tracy PrestonRSU21,910438,638
Danielle KirganRSU21,910438,638
Danielle KirganRSU8,539170,951
Tony SpringRSU8,539170,951
Olivier BronRSU6,219124,504
Adrian MitchellRSU8,539170,951
Thomas EdwardsRSU103,3832,069,728
Olivier BronPSU87,6421,754,593
Adrian MitchellRSU41,270826,225
Tracy PrestonRSU36,123723,182
Danielle KirganRSU33,767676,015
Olivier BronRSU18,657373,513
05

Incentive-plan design — the Compensation Discussion & Analysis

The incentive plans were designed to motivate and engage the organization and leadership with linkages to our strategy, business plan and financial performance.

CEO STI target (% of salary)200%
CEO LTI target (% of salary)
Independent consultantSemler Brossy
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-15157,691,65943,025,428498,44178.56%Passed
20252025-05-16165,972,67220,847,611764,88788.84%Passed
20242024-05-17181,709,59816,048,244840,89591.88%Passed
20232023-05-19184,374,2436,803,298792,87796.44%Passed
20222022-05-20177,445,78515,913,8421,068,04991.77%Passed
20212021-05-21177,607,88418,182,046881,41390.71%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1578.56%a
20252025-05-1688.84%b
20242024-05-1791.88%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not counted as votes cast on the proposal and will have no effect on the vote for the proposal.”.

b. Voting standard not stated in the filing.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not counted as votes cast on the proposal and will have no effect on the vote for the proposal.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)368 : 1
CEO total compensation$14,104,067
Median employee compensation$38,296
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Paul C. VargaIndependent · Lead Independent Director · Finance (Chair) · Compensation and Management Development$155,000$159,992$0$0$4,488$319,480
Marie ChandohaIndependent · Audit (Chair) · Finance130,000159,992006,895296,887
Deirdre P. ConnellyIndependent · Nominating and Corporate Governance (Chair) · Compensation and Management Development125,000159,992003,505288,497
Jill GranoffIndependent · Compensation and Management Development (Chair) · Finance125,000159,992003,149288,141
Richard L. MarkeeIndependent · Finance · Nominating and Corporate Governance110,000159,992001,361271,353
Douglas W. SeslerIndependent · Compensation and Management Development · Nominating and Corporate Governance · Not standing for re-election110,000159,99200843270,835
Richard ClarkIndependent · Audit · Finance · Not standing for re-election110,000159,99200789270,781
Tracey ZhenIndependent · Audit · Nominating and Corporate Governance · Not standing for re-election110,000159,99200733270,725
Emilie ArelIndependent · Compensation and Management Development · Nominating and Corporate Governance110,000159,99200492270,484
Torrence N. BooneIndependent · Audit · Nominating and Corporate Governance110,000159,9920023270,015
Naveen K. ChopraIndependent · Audit · Finance110,000159,992000269,992
Robert B. ChavezIndependent · Audit · Compensation and Management Development · Newly elected93,333159,99200211253,536
Sara LevinsonIndependent · Departed during FY36,66700085037,517
Tony SpringEmployee director · Board Chair000000
09

Board fee structure and ownership guideline

Annual cash retainer$90,000
Annual equity retainer$160,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)40,000 / 35,000 / 35,000
Stock ownership guideline5x annual Board retainer ($450,000)
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,435,000
Equity awards (grant-date value)$1,919,904
All other compensation$23,339
Total cost of the board$3,378,243

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Macy's names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Macy's.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Williams-Sonoma, Inc.2025Laura Alber$1,600,000$18,999,797$0$12,500,000$33,297,422
2TJX Companies, Inc.2026Ernie Herrman1,700,00014,300,17308,386,10026,603,537
3Target Corporation2025Brian Cornell1,400,00018,555,2800787,92021,830,088
4Lowes Companies, Inc.2025Marvin Ellison1,544,23112,480,4674,262,8953,232,69321,581,889
5Ross Stores, Inc.2025James Conroy1,450,00010,650,10004,233,13017,406,705
6Best Buy Co., Inc.2026Corie Barry1,300,00013,699,94702,185,82017,346,126
7Gap Inc.2025Richard Dickson1,400,00010,891,24204,435,63817,185,636
8Burlington Stores, Inc.2025Michael O'Sullivan1,519,53510,842,76804,771,34117,149,564
9Ulta Beauty, Inc.2025Kecia Steelman1,350,0034,792,8774,792,5564,383,97215,403,663
10Dick's Sporting Goods, Inc.2025Lauren Hobart1,393,26911,000,16602,438,22115,103,545
11Dollar Tree, Inc.2025Michael Creedon, Jr.1,300,0009,443,15503,166,80014,775,215
12Macy's2025Tony Spring1,337,5009,007,86803,241,62014,104,067
13Foot Locker, Inc.2024Mary Dillon1,431,25011,000,0470012,501,074
14Kohl's Corporation2025Ashley Buchanan368,7509,000,005009,582,736
15Nordstrom, Inc.2023Erik Nordstrom773,0871,592,8451,061,9011,061,9004,540,362
Dillard's Inc.not in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Macy's120.06%PSU 50 · RSU 50Yes — Relative Total Shareholder Return (rTSR)Semler Brossy Consulting Group LLC
Best Buy Co., Inc.84.07%PSU 50 · RSU 50Yes — total shareholder return (TSR) relative to the S&P 500 Index constituentsFrederic W. Cook & Co., Inc. (FW Cook)
Burlington Stores, Inc.157%PSU 65 · RSU 35NoMeridian Compensation Partners
Dick's Sporting Goods, Inc.100%PSU 50 · RSU 50NoWillis Towers Watson
Dillard's Inc.not disclosednot disclosednot disclosednot disclosed
Dollar Tree, Inc.162.4%PSU 50 · RSU 50NoMeridian Compensation Partners
Foot Locker, Inc.not disclosedPSU 60 · RSU 40Yes — rTSRCompensation Advisory Partners
Gap Inc.158%PSU 67 · RSU 33NoFrederic W. Cook & Co., Inc.
Kohl's Corporationnot disclosednot disclosednot disclosedNot explicitly named in provided text (referred to only as 'independent compensation consultant')
Lowes Companies, Inc.104.67%PSU 50 · Options 25 · RSU 25NoSemler Brossy Consulting Group, LLC
Nordstrom, Inc.70%PSU 60NoSemler Brossy
Ross Stores, Inc.145.97%not disclosedNoExequity, LLP
Target Corporationnot disclosedPSU 60 · RSU 40NoSemler Brossy
TJX Companies, Inc.180.7%PSU 54 · RSU 35 · Cash LTI 11NoPearl Meyer LLC
Ulta Beauty, Inc.180.41%Options 50 · RSU 50not disclosedWillis Towers Watson
Williams-Sonoma, Inc.157.9%PSU 63 · RSU 37NoPay Governance LLC

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Tony SpringDEF 14A2026-03-310001104659-26-037752Section “2025 Summary Compensation Table” · page 75. As printed: 14,104,067. Filing ↗machine: t362 · r9 · c18 · span 1944230–1944240
2Section 01, Thomas EdwardsDEF 14A2026-03-310001104659-26-037752Section “2025 Summary Compensation Table” · page 75. As printed: 7,016,056. Filing ↗machine: t362 · r12 · c18 · span 1962323–1962332
3Section 01, Adrian MitchellDEF 14A2026-03-310001104659-26-037752Section “2025 Summary Compensation Table” · page 75. As printed: 5,686,912. Filing ↗machine: t362 · r25 · c18 · span 2040601–2040610
4Section 01, Olivier BronDEF 14A2026-03-310001104659-26-037752Section “2025 Summary Compensation Table” · page 75. As printed: 4,756,362. Filing ↗machine: t362 · r22 · c18 · span 2022630–2022639
5Section 01, Danielle KirganDEF 14A2026-03-310001104659-26-037752Section “2025 Summary Compensation Table” · page 75. As printed: 3,958,847. Filing ↗machine: t362 · r15 · c18 · span 1980631–1980640
6Section 01, Tracy PrestonDEF 14A2026-03-310001104659-26-037752Section “2025 Summary Compensation Table” · page 75. As printed: 2,943,272. Filing ↗machine: t362 · r19 · c18 · span 2004652–2004661
7Section 03, Danielle Kirgan PRSUDEF 14A2026-03-310001104659-26-037752Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t362 · r15 · c8 · span 1977602–1977611
8Section 03, Thomas Edwards PRSUDEF 14A2026-03-310001104659-26-037752Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t362 · r12 · c8 · span 1959287–1959296
9Section 03, Tracy Preston PRSUDEF 14A2026-03-310001104659-26-037752Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t362 · r19 · c8 · span 2001625–2001634
10Section 03, Olivier Bron PRSUDEF 14A2026-03-310001104659-26-037752Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t362 · r22 · c8 · span 2019601–2019610
11Section 03, Tony Spring PRSUDEF 14A2026-03-310001104659-26-037752Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t362 · r9 · c8 · span 1941085–1941094
12Section 07, pay ratioDEF 14A2026-03-310001104659-26-037752Section “CEO Pay Ratio”. As printed: 368 : 1. Filing ↗machine: span 3571195–3571203
13Section 08, Paul C. VargaDEF 14A2026-03-310001104659-26-037752Section “Director Compensation”. As printed: 319,480. Filing ↗machine: t103 · r15 · c8 · span 919266–919273
14Section 08, Marie ChandohaDEF 14A2026-03-310001104659-26-037752Section “Director Compensation”. As printed: 296,887. Filing ↗machine: t103 · r6 · c8 · span 893099–893106
15Section 08, Deirdre P. ConnellyDEF 14A2026-03-310001104659-26-037752Section “Director Compensation”. As printed: 288,497. Filing ↗machine: t103 · r10 · c8 · span 904769–904776
16Section 08, Jill GranoffDEF 14A2026-03-310001104659-26-037752Section “Director Compensation”. As printed: 288,141. Filing ↗machine: t103 · r11 · c8 · span 907679–907686
17Section 08, Richard L. MarkeeDEF 14A2026-03-310001104659-26-037752Section “Director Compensation”. As printed: 271,353. Filing ↗machine: t103 · r13 · c8 · span 913518–913525
18Section 08, Douglas W. SeslerDEF 14A2026-03-310001104659-26-037752Section “Director Compensation”. As printed: 270,835. Filing ↗machine: t103 · r14 · c8 · span 916431–916438
19Section 08, Richard ClarkDEF 14A2026-03-310001104659-26-037752Section “Director Compensation”. As printed: 270,781. Filing ↗machine: t103 · r9 · c8 · span 901928–901935
20Section 08, Tracey ZhenDEF 14A2026-03-310001104659-26-037752Section “Director Compensation”. As printed: 270,725. Filing ↗machine: t103 · r16 · c8 · span 922097–922104
21Section 08, Emilie ArelDEF 14A2026-03-310001104659-26-037752Section “Director Compensation”. As printed: 270,484. Filing ↗machine: t103 · r4 · c8 · span 887351–887358
22Section 08, Torrence N. BooneDEF 14A2026-03-310001104659-26-037752Section “Director Compensation”. As printed: 270,015. Filing ↗machine: t103 · r5 · c8 · span 890187–890194
23Section 08, Naveen K. ChopraDEF 14A2026-03-310001104659-26-037752Section “Director Compensation”. As printed: 269,992. Filing ↗machine: t103 · r8 · c8 · span 899019–899026
24Section 08, Robert B. ChavezDEF 14A2026-03-310001104659-26-037752Section “Director Compensation”. As printed: 253,536. Filing ↗machine: t103 · r7 · c8 · span 896109–896116
25Section 08, Sara LevinsonDEF 14A2026-03-310001104659-26-037752Section “Director Compensation”. As printed: 37,517. Filing ↗machine: t103 · r12 · c8 · span 910604–910610
26Section 08, Tony SpringDEF 14A2026-03-310001104659-26-037752Section “Director Compensation”. As printed: 0. Filing ↗
27Section 02, Danielle Kirgan 2026-03-31Form 42026-04-020001629771-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Tony Spring 2026-03-31Form 42026-04-020001702551-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Danielle Kirgan 2026-03-31Form 42026-04-020001629771-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Paul Griscom 2026-03-31Form 42026-04-020001813891-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Tony Spring 2026-03-31Form 42026-04-020001702551-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Douglas W. Sesler 2026-03-31Form 42026-04-010001808051-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Richard L. Markee 2026-03-31Form 42026-04-010001043029-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Richard Clark 2026-03-31Form 42026-04-010002019968-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Danielle Kirgan 2026-03-31Form 42026-04-020001629771-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Paul Griscom 2026-03-31Form 42026-04-020001813891-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Tony Spring 2026-03-31Form 42026-04-020001702551-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Paul Griscom 2026-03-31Form 42026-04-020001813891-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Tracy Preston 2026-04-03Form 42026-04-070001851840-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Olivier Bron 2026-04-03Form 42026-04-070002016845-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Danielle Kirgan 2026-04-03Form 42026-04-070001629771-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Danielle Kirgan 2026-04-03Form 42026-04-070001629771-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Danielle Kirgan 2026-04-03Form 42026-04-070001629771-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Tracy Preston 2026-04-03Form 42026-04-070001851840-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Tracy Preston 2026-04-03Form 42026-04-070001851840-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Tony Spring 2026-04-03Form 42026-04-070001702551-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Tony Spring 2026-04-03Form 42026-04-070001702551-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Olivier Bron 2026-04-03Form 42026-04-070002016845-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, Olivier Bron 2026-04-03Form 42026-04-070002016845-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, Paul Griscom 2026-04-03Form 42026-04-070001813891-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, Paul Griscom 2026-04-03Form 42026-04-070001813891-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, Tony Spring 2026-04-03Form 42026-04-070001702551-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, Paul Griscom 2026-04-03Form 42026-04-070001813891-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, Jill Granoff 2026-06-05Form 42026-06-080001404923-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
55Section 02, Torrence N. Boone 2026-06-05Form 42026-06-080001702252-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
56Section 02, Richard L. Markee 2026-06-05Form 42026-06-080001043029-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
57Section 02, Deirdre P. Connelly 2026-06-05Form 42026-06-080001303417-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
58Section 02, Robert B. Chavez 2026-06-05Form 42026-06-080001289390-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
59Section 02, Emilie Arel 2026-06-05Form 42026-06-080001791887-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
60Section 02, Paul C. Varga 2026-06-05Form 42026-06-080001257384-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
61Section 02, Naveen K. Chopra 2026-06-05Form 42026-06-080001565390-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
62Section 02, Marie Chandoha 2026-06-05Form 42026-06-080001656828-26-000003Insider equity transaction reported since the proxy statement. Filing ↗
63Section 02, Thomas Edwards 2026-06-23Form 42026-06-240001637335-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
64Section 02, Thomas Edwards 2026-06-23Form 42026-06-240001637335-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
65Section 02, Thomas Edwards 2026-06-23Form 42026-06-240001637335-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
66Section 02, Paul Griscom 2026-06-25Form 42026-06-260000794367-26-000043Insider equity transaction reported since the proxy statement. Filing ↗
67Section 02, Richard L. Markee 2026-06-30Form 42026-07-010000794367-26-000045Insider equity transaction reported since the proxy statement. Filing ↗
68Section 06, 2026 voteForm 8-K2026-05-180000794367-26-000038Item 5.07 · say-on-pay result. As reported: 78.56% (votes for as printed: 157,691,659). Filing ↗
69Section 06, 2025 voteForm 8-K2025-05-200000794367-25-000092Item 5.07 · say-on-pay result. As reported: 88.84% (votes for as printed: 165,972,672). Filing ↗
70Section 06, 2024 voteForm 8-K2024-05-200000794367-24-000146Item 5.07 · say-on-pay result. As reported: 91.88% (votes for as printed: 181,709,598). Filing ↗
71Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
72Section 09b board cost (computed)ComputedcomputedCash 1,435,000 + equity 1,919,904 + all other 23,339 = 3,378,243, summed across the director compensation table rows.machine: formula: Σ = 3,378,243
73Williams-Sonoma, Inc., Section 10b CEO totalDEF 14A2026-05-060000719955-26-000109CEO total compensation as printed in Williams-Sonoma, Inc.'s own proxy. As printed: 33,297,422. Filing ↗machine: r2 · c24 · span 847173–847184
74TJX Companies, Inc., Section 10b CEO totalDEF 14A2026-04-300000109198-26-000015CEO total compensation as printed in TJX Companies, Inc.'s own proxy. As printed: 26,603,537. Filing ↗machine: r2 · c21 · span 787052–787062
75Target Corporation, Section 10b CEO totalDEF 14A2026-04-270001628280-26-027508CEO total compensation as printed in Target Corporation's own proxy. As printed: 21,830,088. Filing ↗machine: r2 · c8 · span 2775825–2775836
76Lowes Companies, Inc., Section 10b CEO totalDEF 14A2026-04-160000060667-26-000056CEO total compensation as printed in Lowes Companies, Inc.'s own proxy. As printed: 21,581,889. Filing ↗machine: r2 · c8 · span 2406556–2406566
77Ross Stores, Inc., Section 10b CEO totalDEF 14A2026-04-070000745732-26-000013CEO total compensation as printed in Ross Stores, Inc.'s own proxy. As printed: 17,406,705. Filing ↗machine: span 525142–525152
78Best Buy Co., Inc., Section 10b CEO totalDEF 14A2026-04-300001140361-26-018265CEO total compensation as printed in Best Buy Co., Inc.'s own proxy. As printed: 17,346,126. Filing ↗machine: r2 · c19 · span 1511832–1511842
79Gap Inc., Section 10b CEO totalDEF 14A2026-03-270001628280-26-021740CEO total compensation as printed in Gap Inc.'s own proxy. As printed: 17,185,636. Filing ↗machine: r3 · c27 · span 1131780–1131790
80Burlington Stores, Inc., Section 10b CEO totalDEF 14A2026-04-020001193125-26-140144CEO total compensation as printed in Burlington Stores, Inc.'s own proxy. As printed: 17,149,564. Filing ↗machine: t163 · r3 · c27 · span 1994972–1994982
81Ulta Beauty, Inc., Section 10b CEO totalDEF 14A2026-04-220001104659-26-046308CEO total compensation as printed in Ulta Beauty, Inc.'s own proxy. As printed: 15,403,663. Filing ↗machine: t216 · r7 · c24 · span 1201446–1201456
82Dick's Sporting Goods, Inc., Section 10b CEO totalDEF 14A2026-05-010001089063-26-000015CEO total compensation as printed in Dick's Sporting Goods, Inc.'s own proxy. As printed: 15,103,545. Filing ↗machine: t134 · r3 · c28 · span 969849–969859
83Dollar Tree, Inc., Section 10b CEO totalDEF 14A2026-05-010001104659-26-053500CEO total compensation as printed in Dollar Tree, Inc.'s own proxy. As printed: 14,775,215. Filing ↗machine: t44 · r1 · c25 · span 1003747–1003757
84Macy's (subject), Section 10b CEO totalDEF 14A2026-03-310001104659-26-037752CEO total compensation as printed in Macy's's own proxy. As printed: 14,104,067. Filing ↗machine: t362 · r9 · c18 · span 1944230–1944240
85Foot Locker, Inc., Section 10b CEO totalDEF 14A2025-04-100001104659-25-033769CEO total compensation as printed in Foot Locker, Inc.'s own proxy. As printed: 12,501,074. Filing ↗machine: t258 · r2 · c28 · span 2181785–2181795
86Kohl's Corporation, Section 10b CEO totalDEF 14A2026-04-100001104659-26-041769CEO total compensation as printed in Kohl's Corporation's own proxy. As printed: 9,582,736. Filing ↗machine: t495 · r23 · c16 · span 3003658–3003667
87Nordstrom, Inc., Section 10b CEO totalDEF 14A2024-04-110000072333-24-000046CEO total compensation as printed in Nordstrom, Inc.'s own proxy. As printed: 4,540,362. Filing ↗machine: r2 · c27 · span 957938–957947
88Section 10a, Nordstrom, Inc. reciprocityDEF 14A0000072333-24-000046Nordstrom, Inc.'s most recent proxy was read; its disclosed peer group does not include Macy's. Filing ↗
89Section 10a, Ross Stores, Inc. reciprocityDEF 14A0000745732-26-000013Ross Stores, Inc. names Macy's in its own disclosed peer group (read from its most recent proxy). Filing ↗
90Section 10a, Dollar Tree, Inc. reciprocityDEF 14A0001104659-26-053500Dollar Tree, Inc. names Macy's in its own disclosed peer group (read from its most recent proxy). Filing ↗
91Section 10a, Best Buy Co., Inc. reciprocityDEF 14A0001140361-26-018265Best Buy Co., Inc. names Macy's in its own disclosed peer group (read from its most recent proxy). Filing ↗
92Section 10a, Ulta Beauty, Inc. reciprocityDEF 14A0001104659-26-046308Ulta Beauty, Inc.'s most recent proxy was read; its disclosed peer group does not include Macy's. Filing ↗
93Section 10a, Williams-Sonoma, Inc. reciprocityDEF 14A0000719955-26-000109Williams-Sonoma, Inc.'s most recent proxy was read; its disclosed peer group does not include Macy's. Filing ↗
94Section 10a, Target Corporation reciprocityDEF 14A0001628280-26-027508Target Corporation names Macy's in its own disclosed peer group (read from its most recent proxy). Filing ↗
95Section 10a, Burlington Stores, Inc. reciprocityDEF 14A0001193125-26-140144Burlington Stores, Inc. names Macy's in its own disclosed peer group (read from its most recent proxy). Filing ↗
96Section 10a, Dick's Sporting Goods, Inc. reciprocityDEF 14A0001089063-26-000015Dick's Sporting Goods, Inc.'s most recent proxy was read; its disclosed peer group does not include Macy's. Filing ↗
97Section 10a, Foot Locker, Inc. reciprocityDEF 14A0001104659-25-033769Foot Locker, Inc.'s most recent proxy was read; its disclosed peer group does not include Macy's. Filing ↗
98Section 10a, Lowes Companies, Inc. reciprocityDEF 14A0000060667-26-000056Lowes Companies, Inc.'s most recent proxy was read; its disclosed peer group does not include Macy's. Filing ↗
99Section 10a, Gap Inc. reciprocityDEF 14A0001628280-26-021740Gap Inc.'s most recent proxy was read; its disclosed peer group does not include Macy's. Filing ↗