Paul C Varga, a director of Macy's Inc, just received 8,810 restricted shares from the company. The restricted shares don't become available to Varga until such time as they become vested. Varga now owns at least 8,810 restricted shares of the company.
Some additional info was provided as follows:
Each restricted stock unit represents the equivalent of one share of the Issuer's common stock.
The restricted stock units vest on the earlier of one year from the grant date or the date of the Issuer's next annual meeting of shareholders. The vested shares will be automatically deferred and delivered to the reporting person six months after the reporting person's service on the Issuer's Board of Directors ends.
The above inform ation was disclosed in a filing to the SEC. To see the filing, click here.
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