Always interesting when the CFO sells off more of his position in the company.
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OP is a mo--n who clearly knows nothing. This is a timed stock sale.
Timed stock sale tied to compensation. Last year they sold at $16. Much ado about nothing.
why sell now if Arkhouse raises their bid?
Yep, absolutely nothing here. More context:
Macy's, Inc. (NYSE:M) executive vice president, chief operating officer, and chief financial officer, Adrian V. Mitchell, has recently engaged in significant stock transactions, according to the latest filings. The executive sold a total of 13,249 shares of common stock at an average price of $20.42, totaling approximately $270,540. These sales occurred on March 22, 2024, and were executed to cover tax withholding obligations upon the vesting of performance restricted shares.
In addition to the sale, Macy's withheld 1,126 shares valued at $20.79 each, amounting to $23,409, to satisfy Mitchell's tax withholding obligation connected to the vesting of accrued dividends on performance restricted stock units. This transaction, which took place on March 21, 2024, was not a discretionary trade by Mitchell.
Furthermore, on the same day, Mitchell acquired 35,087 shares of Macy's common stock at no cost, as a settlement of performance restricted stock units granted following a three-year performance period (fiscal years 2021-2023). This acquisition included 2,792 dividend shares accrued during the performance period.
Looks like they were restricted stock unit grants and timed sales. Happened same time last year. Nothing to see.