TERRY’S PAYDAY: Terry J. Lundgren, chairman, president and chief executive officer of Macy’s Inc., has a big payday coming his way. The ceo registered with the Securities and Exchange Commission Thursday to sell 500,000 Macy’s shares with a market value of $18.8 million. He acquired the shares, which were initially issued as stock options, in 2002.

Chief financial officer Karen Hoguet filed to sell 92,000 shares, which she acquired in 2003 and 2009, for $3.5 million.

This story first appeared in the February 24, 2012 issue of WWD.  Subscribe Today.

Macy’s stock closed down 1.8 percent to $36.99 Thursday.

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