X0206 3 2017-03-24 0 0000794367 Macy's, Inc. M 0001633247 BAXTER TIMOTHY G C/O MACY'S, INC. 7 WEST SEVENTH STREET CINCINNATI OH 45202 0 1 0 0 Chief Merchandising Officer Common Stock 341 D Common Stock 2984 I By 401(k) Plan Options to Purchase Common Stock 23.43 2015-03-25 2021-03-25 Common Stock 750 D Options to Purchase Common Stock 39.84 2022-03-23 Common Stock 3000 D Options to Purchase Common Stock 41.67 2023-03-19 Common Stock 5625 D Options to Purchase Common Stock 58.92 2024-03-28 Common Stock 7500 D Options to Purchase Common Stock 63.65 2025-03-27 Common Stock 23099 D Options to Purchase Common Stock 43.42 2026-03-23 Common Stock 38961 D Options to Purchase Common Stock 28.17 2027-03-24 Common Stock 73282 D Restricted Stock Units Common Stock 4243 D Reflects the reporting person's interest in Macy's stock under the Issuer's 401(k) plan, derived by dividing the value of the undivided interest of the reporting person in the applicable investment fund as of March 24, 2017 by $28.17, the stock price of such date. Options became exercisable as follows: 1,500 on March 23, 2015 and 1,500 on March 23, 2016. Options became exercisable as follows: 1,875 on March 19, 2015; 1,875 on March 19, 2016 and 1,875 on March 19, 2017. Options became exercisable as follows: 1,875 on March 28, 2015; 1,875 on March 28, 2016; 1,875 on March 28, 2017 and 1,875 on March 28, 2018. Options became exercisable as follows: 5,775 on March 27, 2016; 5,775 on March 27, 2017; 5,775 on March 27, 2018 and 5,774 on March 27, 2019. Options became exercisable as follows: 9,741 on March 23, 2017; 9,740 on March 23, 2018; 9,740 on March 23, 2019 and 9,740 on March 23, 2020. Options become exercisable as follows: 18,321 on March 24, 2018; 18,321 on March 24, 2019; 18,320 on March 24, 2020 and 18,320 on March 24, 2021. The restricted stock units vest on March 28, 2017. Each restricted stock unit represents a contingent right to receive one share of Macy's common stock. /s/ Ann Munson Steins, as attorney-in-fact for Timothy G. Baxter pursuant to a Power of Attorney 2017-03-29