Macy's, Inc.
For the period ended May 17, 2024. Filed Apr 15, 2024.
View on SEC.govAbout this filing
What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
May 17, 2024 · Filed Apr 15, 2024
M$23.08-4.6%Stored close · as of Nov 6, 2026
Contents
2023 Short-Term and Long-Term Incentive Programs
The designs of the 2023 programs maintained a similar framework to 2022, focused on our key initiatives, while reflecting continued uncertainty in the macro environment at the time plans were set.
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| | | MACY’S, INC.2024 PROXY STATEMENT | 85 |
Key Features of the 2023 Incentive Program
| PROGRAM | PERFORMANCE | METRIC WEIGHT | RATIONALE |
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| Short-Term Incentive Plan(STI) | ●Total Revenue ●Adjusted EBITDA ●Strategic Initiatives–Culture Index | 40%40%20% | ●Total revenue and Adjusted EBITDA: key financial metrics that measure top and bottom-line performance –Total revenue is a key indicator of performance across all sales channels, inclusive of comparable sales performance and is aligned with our key business priorities–Adjusted EBITDA is also a key indicator of performance across all sales channels and reflects our focus on profitable sales and overall productivity, including disciplined inventory management and effective cost management●Culture Index motivates our leaders to champion the company culture and also supports inclusion. Our colleagues are core to our growth, across our highly distributed and dynamic workforce that includes both regular and seasonal colleagues, and are key to building strong relationships across our diverse customer base and broader stakeholder community |
| Long-Term IncentivePlan (LTI) | Mix of PRSUs and time-based RSUs, allocation equally weighted, 50% each: PRSU performance metrics: ●rTSR for 2023 – 2025 compared to the S&P Retail Select Industry Index Peer Group●2023 EBITDA Margin | 50%50% | ●50% split maintains a high-performance focus●rTSR focuses on long-term shareholder value and accountability for performance relative to the broader retail sector●2023 EBITDA margin focuses on a key bottom-line financial metric, which reflects our focus on profitable sales and operating efficiency |
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