Macy's to claw back executive bonuses due to accounting scandal [Fortune]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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Source: Fortune
The department-store operator tied executives' cash bonuses to an earnings metric that turned out to be overstated by around $81 million in 2023, Macy's said in a securities filing on Tuesday evening. That meant Macy's overpaid executives by $609,613 as of the end of 2024, the company said . Some of that has already been clawed back, so the outstanding amount stood at $352,093 as of April 1, it added. The company's compensation committee said it “will seek to recover the remaining amount of the erroneously awarded compensation” from executives. Macy's didn't name the people whose bonuses will be affected. A spokesperson declined to comment. Macy's also said Tuesday its chief financial officer was leaving. The company said it was replacing h
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News
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M
Earnings
- 3/6/25 - Beat
M
Sec Filings
- 4/4/25 - Form 3
- 4/2/25 - Form 4
- 4/2/25 - Form 4
- M's page on the SEC website