Spring Antony, CEO & Chair-Elect, has demonstrated a consistent pattern of selling shares in Macy’s Inc. (M) over the past two years, with no recorded purchases in the same period. According to SEC Form 4 filings, Antony executed 26 transactions totaling $2.3 million in sales, with the most recent activity concentrated in March 2026. Notably, on March 27, 2026, Antony sold $742,456 worth of M shares, followed by another sale of $486,799 on March 30. Earlier transactions included a $264,604 sale on March 31, 2025, and a $273,705 sale on March 22, 2024, suggesting a recurring trend of divestment around the same period annually. Smaller sales, such as $58,522 on March 28, 2025, and $111,811 on March 26, 2024, further underscore the sustained selling bias.
The filings also reveal several transactions coded as "M" (derivative holdings) or "A" (awards) with no reported value, indicating potential stock-based compensation or option exercises that did not immediately translate into open-market sales. However, the absence of any buy transactions—coupled with the frequency and scale of sales—points to a clear reduction in Antony’s direct equity exposure to Macy’s. The largest single sale occurred in March 2026, accounting for nearly a third of the total divested value over the observed period. While the reasons for these sales remain undisclosed, the data reflects a deliberate and repeated decision to liquidate holdings rather than accumulate additional shares.
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