0000072333-23-000034.txt : 20230308 0000072333-23-000034.hdr.sgml : 20230308 20230308204011 ACCESSION NUMBER: 0000072333-23-000034 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230306 FILED AS OF DATE: 20230308 DATE AS OF CHANGE: 20230308 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Redwine Farrell B. CENTRAL INDEX KEY: 0001880345 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-15059 FILM NUMBER: 23717909 MAIL ADDRESS: STREET 1: C/O NORDSTROM, INC. STREET 2: 1617 SIXTH AVENUE CITY: SEATTLE STATE: WA ZIP: 98101 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: NORDSTROM INC CENTRAL INDEX KEY: 0000072333 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-FAMILY CLOTHING STORES [5651] IRS NUMBER: 910515058 STATE OF INCORPORATION: WA FISCAL YEAR END: 0128 BUSINESS ADDRESS: STREET 1: 1617 SIXTH AVENUE CITY: SEATTLE STATE: WA ZIP: 98101-4407 BUSINESS PHONE: 2066282111 MAIL ADDRESS: STREET 1: 1617 SIXTH AVENUE CITY: SEATTLE STATE: WA ZIP: 98101 FORMER COMPANY: FORMER CONFORMED NAME: NORDSTROM BEST INC DATE OF NAME CHANGE: 19730611 4 1 wf-form4_167832599996081.xml FORM 4 X0306 4 2023-03-06 0 0000072333 NORDSTROM INC JWN 0001880345 Redwine Farrell B. C/O NORDSTROM, INC. 1617 SIXTH AVENUE SEATTLE WA 98101 0 1 0 0 Chief Human Resources Officer Performance Share Units 2023-03-06 4 A 0 31500 0 A 2026-03-10 2026-03-10 Common Stock 31500.0 31500 D Employee Stock Option (right to buy) 19.63 2023-03-06 4 A 0 0 19.63 A 2026-03-10 2033-03-06 Common Stock 0.0 0 D Each Performance Share Unit (PSU) represents a contingent right to receive 1 share of the Company's common stock. The PSUs may be earned over a 3-year period from FY 2023 through FY 2025, depending on the achievement of certain metrics. The number of PSUs awarded is a function of base pay, a PSU LTI percentage and the fair value of a PSU. The fair value of a PSU is calculated as the stock price as of the effective date less the present value of Company stock dividends over the vesting period. This calculation requires the input of certain assumptions, including the risk-free interest rate and the expected Company stock dividends. The formula for determining the number of PSUs granted is: number of PSUs = (base pay x PSU LTI%) / PSU fair value. The percentage of PSUs granted that will actually be earned at the end of the three-year period is based upon the Company's cumulative sales and earnings before interest and tax ("EBIT") margin results over the same period. The minimum percentage of PSUs that can be earned at the end of the three year performance cycle is 75% and the maximum is 150%. Granted under the issuer's 2019 Equity Incentive Plan, exercisable 50% on March 10, 2026 and 50% on March 10, 2027. The number of options granted is not known at this time. The number is calculated as a function of certain assumptions, including risk-free interest rate, volatility, expected dividend yield, and expected life. The formula for determining the number of options granted is: (base pay x Option LTI%)/option fair value. This Form 4 will be amended to report the number of options granted when that number has been calculated. /s/ Brian DeFoe, Attorney-in-Fact for Farrell B. Redwine 2023-03-08