SEC Filing | Nordstrom

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 11-K

(Mark One)

x ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2021

¨ TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___________ to___________

Commission file number 001-15059

A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

Nordstrom 401(k) Plan

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

Nordstrom, Inc.

1617 Sixth Avenue, Seattle, Washington 98101

REQUIRED INFORMATION

1. Not applicable

2. Not applicable

3. Not applicable

4. The Nordstrom 401(k) Plan is subject to the requirements of the Employee Retirement Income Security Act of 1974 (“ERISA”). Plan financial statements and schedules prepared in accordance with the financial reporting requirements of ERISA are filed as Exhibit 99.1.

The Consent of Independent Registered Public Accounting Firm is filed as Exhibit 23.1.

The Exhibit Index is located on page 3.

Nordstrom 401(k) Plan

Exhibit Index

Exhibit

Method of Filing

23.1

Consent of Independent Registered Public Accounting Firm

Filed herewith electronically

99.1

Nordstrom 401(k) Plan Financial Statements

Filed herewith electronically

99.2

Nordstrom 401(k) Plan (2021 Restatement)

Incorporated by reference from the Registrant’s Quarterly Report on Form 10-Q for the quarter ended May 1, 2021, Exhibit 10.2

99.3

Amendment 2021-1 to the Nordstrom 401(k) Plan

Filed herewith electronically

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the administrators of the employee benefit plan have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.


Nordstrom 401(k) Plan

/s/ Anne L. Bramman
Anne L. Bramman
Chief Financial Officer
Nordstrom, Inc.



Date:			June 9, 2022

Document

Exhibit 23.1

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We consent to the incorporation by reference in the Registration Statement No. 333-239083 on Form S-8 of Nordstrom, Inc., of our report dated June 9, 2022, relating to the statements of net assets available for benefits of the Nordstrom 401(k) Plan as of December 31, 2021 and 2020, the related statement of changes in net assets available for benefits for the year ended December 31, 2021, and the related supplementary information as of December 31, 2021, appearing in this Annual Report on Form 11-K of the Nordstrom 401(k) Plan for the year ended December 31, 2021.

/s/ Moss Adams LLP

San Francisco, California

June 9, 2022

Document

Nordstrom 401(k) Plan

Employer ID No: 91-0515058

Plan Number: 001


Report of Independent Registered Public Accounting Firm and

Financial Statements as of December 31, 2021 and 2020
and for the Year Ended December 31, 2021,
with Supplementary Information

Table of Contents

NORDSTROM 401(k) PLAN

PLAN YEAR ENDED December 31, 2021

TABLE OF CONTENTS


		Page
DEFINITIONS OF COMMONLY USED TERMS		2

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM		3


FINANCIAL STATEMENTS
	Statements of Net Assets Available for Benefits as of December 31, 2021 and 2020	4

	Statement of Changes in Net Assets Available for Benefits for the year ended December 31, 2021	5

	Notes to Financial Statements

	Note 1: Description of the Plan	6

	Note 2: Summary of Significant Accounting Policies	7

	Note 3: Fair Value Measurements	8

	Note 4: Party-in-Interest Transactions	9

	Note 5: Federal Income Tax Status	10

	Note 6: Plan Termination	10

	Note 7: Excess Contributions Payable to Participants	10



SUPPLEMENTARY INFORMATION
	Schedule H, Line 4(a) — Schedule of Delinquent Participant Contributions for the year ended December 31, 2021	11

	Schedule H, Line 4(i) — Schedule of Assets (Held at End of Year) as of December 31, 2021	12

All other schedules required by Section 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.

DEFINITIONS OF COMMONLY USED TERMS


Term			Definition
BNYM			Bank of New York Mellon
Board			Nordstrom, Inc.’s Board of Directors
CARES Act			Coronavirus Aid, Relief and Economic Security Act
Company			Nordstrom, Inc. and its participating subsidiaries
CCT			Common collective trust
DOL			Department of Labor
ERISA			Employee Retirement Income Security Act of 1974
GAAP			U.S. generally accepted accounting principles
IRA			Individual Retirement Account
IRC			Internal Revenue Code
IRS			Internal Revenue Service
NAV			Net asset value
Plan			Nordstrom 401(k) Plan
Plan Administrator			Nordstrom Retirement Committee appointed by the Board
PTE			Prohibited Transaction Exemption
QACA			Qualified Automatic Contribution Arrangement
VFCP			Voluntary Fiduciary Correction Program

Table of Contents

Report of Independent Registered Public Accounting Firm

To the Plan Administrator and Participants of

Nordstrom 401(k) Plan

Opinion on the Financial Statements

We have audited the accompanying statements of net assets available for benefits of the Nordstrom 401(k) Plan (the Plan) as of December 31, 2021 and 2020, the related statement of changes in net assets available for benefits for the year ended December 31, 2021, and the related notes (collectively referred to as the “financial statements”).

In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2021 and 2020, and the changes in net assets available for benefits for the year ended December 31, 2021, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures to respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Opinion on the Supplementary Information

The supplementary information included in Schedule H, line 4(i) – schedule of assets (held at end of year) as of December 31, 2021 and the Schedule H, line 4(a) – schedule of delinquent participant contributions for the year ended December 31, 2021 have been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplementary information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplementary information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplementary information. In forming our opinion on the supplementary information in the accompanying schedules, we evaluated whether the supplementary information, including its form and content, is presented in conformity with Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplementary information in the accompanying schedules is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ Moss Adams LLP

San Francisco, California

June 9, 2022

We have served as the Plan’s auditor since 2016.

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NORDSTROM 401(k) PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

(Amounts in thousands)


	December 31,
	2021	2020
Assets
Participant-directed investments at fair value (see Note 3: Fair Value Measurements)	$3,936,004	$3,769,501

Notes receivable from participants	68,623	80,364
Accrued income and broker receivable	186,603	16,635
Total assets	4,191,230	3,866,500

Liabilities
Administrative expenses and other payables	3,033	1,504
Excess contributions payable to participants	—	1,098
Due to broker for securities purchased	41,317	29,736
Total liabilities	44,350	32,338

Net assets available for benefits	$4,146,880	$3,834,162

The accompanying Notes to Financial Statements are an integral part of these financial statements.

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NORDSTROM 401(k) PLAN

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS

(Amounts in thousands)


Plan year ended			December 31, 2021
Additions
Contributions
Company contributions			$64,123
Employee contributions			156,157
Total contributions			220,280

Investment income
Net appreciation in fair value of investments			403,171
Interest and dividends			41,450
Total investment income			444,621

Total additions			664,901

Deductions
Benefit payments to participants			339,827
Administrative expenses and other			12,356
Total deductions			352,183

Net increase in net assets			312,718

Net assets available for benefits at beginning of year			3,834,162
Net assets available for benefits at end of year			$4,146,880

The accompanying Notes to Financial Statements are an integral part of these financial statements.

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NORDSTROM 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

(Dollar and share amounts in thousands)

NOTE 1: DESCRIPTION OF THE PLAN

The Nordstrom 401(k) Plan, as amended and restated, was originally established on January 1, 1953 and is a defined contribution plan. In 2021, the Board approved an amendment to the Plan adopting certain QACA safe harbor provisions effective January 1, 2021. The Plan was restated in 2021 to incorporate these provisions, as well as provisions of the CARES Act. The Plan was further amended in 2021 to adopt provisions of the Bipartisan Budget Act of 2018 as well as other technical and administrative changes. The following description of the Plan’s provisions is for informational purposes only and does not bind the Plan. Participants should refer to the Plan documents for a more complete description of the Plan’s provisions.

General

The Plan covers substantially all employees of the Company and is subject to the provisions of ERISA. Employees are eligible to make elective salary deferrals and receive Company matching contributions upon hire. The Plan contains eligibility provisions to ensure that all eligible employees enter the Plan by the latest participation date required under the applicable provisions of the IRC.

Beginning January 1, 2021, Company contributions are paid each pay period that an eligible participant contributes to the Plan.

Plan Year

The Plan operates on a calendar year ending on December 31. References to 2021 and 2020 relate to the Plan years ended December 31, 2021 and December 31, 2020.

Trustee and Administrator of the Plan

BNYM is the asset trustee of the Plan and Alight Solutions provides recordkeeping services for the Plan.

The Plan is administered by the Company in conjunction with the Plan Administrator.

Plan Contributions

Contributions to the Plan are made through employee contributions, including catch-up contributions, Company contributions and participant rollover contributions. Contributions are subject to certain limitations of the IRC.

Employee Contributions — Eligible employees may elect to defer up to 50% of eligible compensation on a pre-tax basis, after-tax basis (“Roth”) or a combination of both. Employees age 50 and over are allowed a catch-up contribution on a pre-tax basis, Roth or a combination of both, beginning in the year they turn age 50. Eligible employees who neither make an affirmative salary deferral election nor affirmatively opt out of the Plan are automatically enrolled in the Plan with a deferral contribution equal to 3% of eligible compensation. This deferral percentage is automatically increased by 1% annually, up to 10%, unless the participant elects otherwise. Employees have the option to opt out of deferring or to change their deferral percentage at any time in accordance with the Plan.

Company Contributions — The Company matches employee contributions dollar for dollar on the first 1% of eligible compensation, and 50 cents per dollar on the next 6% of eligible compensation, up to a total of 4% of eligible compensation.

Participant Rollover Contributions — Participants eligible for a withdrawal from another eligible retirement plan or traditional IRA may roll over all or part of that amount into the Plan. Participants may not roll over amounts from a Roth IRA into the Plan.

Investments

Participants can direct the investment of their accounts (including employee and Company contributions) among various funds, debt securities and Company common stock. The funds as of December 31, 2021 and 2020 include a variety of mutual funds, CCT funds, separately managed funds and custom target retirement date funds. The available funds are regularly reviewed by the Plan Administrator and are subject to change at any time.

Participation in Investment Activity

Individual accounts are credited daily with a pro-rata share of investment income or loss experienced by the respective funds into which their account balances have been directed. This income or loss is included in net appreciation or depreciation in fair value of investments on the Statement of Changes in Net Assets Available for Benefits.

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NORDSTROM 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

(Dollar and share amounts in thousands)

Vesting in the Plan

Employees who terminate employment due to retirement, disability or death are 100% vested in their Plan accounts, regardless of years of service. The Plan defines “retirement” as age 60 or older for the purposes of vesting. On termination of employment for reasons other than retirement, disability or death, the amounts credited to the accounts of participants are vested as follows:

Employee Contributions — Employee contributions (salary deferral, catch-up and rollover contributions) are always 100% vested.

Company Matching Contributions — Company matching contributions made on or after January 1, 2021 are 100% vested after completion of two years of service. A year of service is any year in which an employee works at least 1,000 hours. Company matching contributions made prior to January 1, 2021 vest as follows:


Years of Service			Vesting Percentage
Less than one			0%
One			33%
Two			67%
Three or more			100%

Forfeitures

Forfeitures of unvested Company matching contributions from terminated participant accounts can be used to offset Company matching contributions or to pay Plan administrative expenses, as determined by the Plan Administrator. At December 31, 2021 and 2020, forfeited unvested accounts were $1,152 and $1,286. In 2021, the Plan used forfeitures of $3,700 to offset Company matching contributions.

Benefit Payments

On termination of service, a participant (or participant’s beneficiary in the case of death) may elect to roll over the value of the vested interest in his or her account to another qualified plan, to receive the value as a lump-sum distribution or elect to remain in the Plan, if the vested account balance exceeds $1 (subject to required distributions under Section 401(a)(9) of the IRC). When an active participant reaches age 59½ and continues to work for the Company, the participant is eligible to receive a partial or full distribution of their account. The Plan also allows distributions to active participants for financial hardship, if certain criteria are met.

Participant Loans (Notes Receivable from Participants)

Participants may borrow a minimum of $1 from their account up to a maximum that is equal to the lesser of:

•50% of their vested account balance, less the balance of any other outstanding loans from the Plan as of the loan request date, or

•$50 less the highest outstanding principal balance of any loans, from this Plan or any other qualified Plan of the employer or a related employer, during the one-year period immediately preceding the loan request date

Loan terms are a maximum of five years or, if for the purchase of a principal residence, up to 20 years. The loans are secured by the balance in the participant’s account. The interest rate for a loan is determined at the time it is approved. The rate will be the prime rate as reported by the Wall Street Journal on the 15th day of the prior month, plus 1%. Interest rates for participant loans outstanding at December 31, 2021 range from 4.25% to 9.25% with various maturities through December 2041. Principal and interest is paid through payroll deductions, following the participant’s bi-weekly payroll cycle. A participant may have a maximum of two loans outstanding at any one time.

Participants may make monthly loan repayments during approved leaves of absence. Alternatively, payment obligations may be suspended during approved leaves of absence not longer than one year and during periods of qualified military service. Participants may continue to make loan repayments after termination of employment under procedures established by the Plan Administrator. Loan balances that become delinquent will be deemed distributed and become taxable income to the participant.

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Accounting

The accompanying financial statements have been prepared in accordance with GAAP.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires Company management to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, and changes therein and disclosure of contingent assets and liabilities during the reporting period. Uncertainties regarding such estimates and assumptions are inherent in the preparation of financial statements and actual results may differ from these estimates and assumptions.

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NORDSTROM 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

(Dollar and share amounts in thousands)

Risks and Uncertainties

The Plan holds various investment instruments, including, but not limited to, common stock, debt securities, mutual funds and CCTs. Investment securities, in general, are exposed to various risks, such as interest rate risk, credit risk and overall market volatility. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and such changes could materially affect participants’ account balances and the amounts reported in the financial statements.

Investment Valuation and Income Recognition

The Plan’s investments are held by the trustee and are recorded at fair value as follows:

•Common stock is valued at quoted market prices as of the last trading day of the Plan year.

•Shares of mutual funds are valued at quoted market prices as of the last trading day of the Plan year.

•CCTs are measured using the NAV practical expedient of the CCT as reported by the CCT managers. The NAV practical expedient is based on the fair value of the underlying assets owned by the CCT, less its liabilities, and divided by the number of units outstanding.

•Investments in debt securities are valued using the market approach and observable inputs, such as observable trade prices, multiple broker/dealer quotes, related yield curves and other assumptions about the securities.

•Self-directed brokerage accounts allow participants to invest all or a portion of their account in investments of their choice. The fair value is based on the underlying investments, which may include common stock, mutual funds and debt securities.

Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on an accrual basis. Dividends are recorded when earned.

Net realized gains or losses on investment sales represent the difference between the sale proceeds and cost of the investments, or the adjusted market price. Net unrealized appreciation or depreciation on investments held at the end of the Plan year represents the net change in the fair value of investments during the year. The Statement of Changes in Net Assets Available for Benefits presents the net appreciation or depreciation in fair value of investments, which consists of realized and unrealized gains and losses.

Notes Receivable from Participants

Participant loans are included in notes receivable from participants on the Statements of Net Assets Available for Benefits and are measured at their unpaid principal balance plus any accrued unpaid interest. Delinquent participant loans are recorded as distributions based on the terms of the Plan document.

Benefit Payments

Benefits are recorded when paid. Amounts allocated to former participants who have withdrawn from the Plan, but have not yet been paid as of December 31, 2021 and 2020, were $7,736 and $907.

Administrative Expenses

Substantially all of the administrative expenses, including recordkeeping, trustee and other fees, incurred in connection with the Plan are paid by the Plan through an allocation to participant accounts.

NOTE 3: FAIR VALUE MEASUREMENTS

The Plan discloses its assets that are measured at fair value in the Statements of Net Assets Available for Benefits by level within the fair value hierarchy as defined by applicable accounting standards:

Level 1: Quoted market prices in active markets for identical assets or liabilities

Level 2: Other observable market-based inputs or unobservable inputs that are corroborated by market data

Level 3: Unobservable inputs that cannot be corroborated by market data that reflect the reporting entity’s own assumptions

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NORDSTROM 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

(Dollar and share amounts in thousands)

The following tables set forth, by level within the fair value hierarchy, a summary of the Plan’s investments that were measured at fair value on a recurring basis as of December 31, 2021 and 2020. There have been no changes in the methodologies used at December 31, 2021 and 2020.


	December 31, 2021
	Level 1	Level 2	Total
Fair value hierarchy:
Common stock	$949,284	$—	$949,284
Debt securities	44,372	162,161	206,533
Mutual funds	985,224	—	985,224
Brokerage securities	47,538	4,856	52,394
Other1	270	—	270
Total assets in fair value hierarchy	$2,026,688	$167,017	$2,193,705
Investments measured at NAV practical expedient			1,742,299
Total participant-directed investments at fair value			$3,936,004

1 Other primarily includes interest-bearing cash securities.


	December 31, 2020
	Level 1	Level 2	Total
Fair value hierarchy:
Common stock	$1,060,718	$—	$1,060,718
Debt securities	18,841	179,762	198,603
Mutual funds	831,404	—	831,404
Brokerage securities	37,325	4,911	42,236
Other1	(5,328)	—	(5,328)
Total assets in fair value hierarchy	$1,942,960	$184,673	$2,127,633
Investments measured at NAV practical expedient			1,641,868
Total participant-directed investments at fair value			$3,769,501

1 Other primarily includes pending receivable transactions for dividends and interest.

The Plan’s NAV practical expedient funds are primarily composed of CCT’s, which are measured daily and may be redeemed daily with no restrictions related to the redemption notice period.

The Plan did not have any Level 3 measurements as of December 31, 2021 and 2020. During 2021, there were no transfers in or out of Levels 1, 2 or 3.

NOTE 4: PARTY-IN-INTEREST TRANSACTIONS

Parties-in-interest include fiduciaries or employees of the Plan, any person who provides services to the Plan, an employer whose employees are covered by the Plan, an employee organization whose members are covered by the Plan, a person who owns 50% or more of such an employer or employee organization or relatives of such persons. As of December 31, 2021 and 2020, Plan investments included units held in a collective trust managed by BNYM, BNYM common stock and interest-bearing cash managed by BNYM. As of December 31, 2021 and 2020, the Plan held 3,169 and 3,637 shares of Nordstrom, Inc. common stock, with a cost basis of $117,402 and $137,781. The Plan recorded no dividend income from Nordstrom, Inc. common stock during 2021, as the Company temporarily suspended quarterly dividend payments beginning in the second fiscal quarter of 2020. The Company resumed payment of dividends in the first fiscal quarter of 2022. In addition, the Plan holds notes receivable from participants and paid certain expenses related to plan operations and investment activities to various service providers. Transactions with these entities qualify as exempt party-in-interest transactions.

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NORDSTROM 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

(Dollar and share amounts in thousands)

NOTE 5: FEDERAL INCOME TAX STATUS

The Plan as restated as of January 1, 2021 is an individually designed plan. While the restated Plan document does not have a determination letter from the IRS, the Company and Plan management believe that the Plan is currently designed and operated in compliance with the applicable requirements of the IRC, and the Plan and related trust continue to be tax-exempt. Therefore, no provision for income taxes has been included in the Plan’s financial statements.

GAAP requires Plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan Administrator has concluded that as of December 31, 2021 and 2020, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements.

NOTE 6: PLAN TERMINATION

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. Under the Plan, the Company may also temporarily suspend contributions, which does not constitute or require termination of the Plan.

In the event the Plan is terminated, the respective accounts of the participants under the Plan shall become fully vested and nonforfeitable. After payment of expenses properly chargeable against the Plan, the trustee shall distribute all Plan assets to the participants in the proportions determined by their respective accounts.

NOTE 7: EXCESS CONTRIBUTIONS PAYABLE TO PARTICIPANTS

The Plan is subject to certain non-discrimination rules under ERISA and the IRC. For 2021, the Plan passed all applicable non-discrimination tests. For 2020, the Plan failed certain non-discrimination tests under the IRC due to lower deferral percentages by non-highly compensated eligible employees relative to the deferral percentages of highly compensated eligible employees. In order to meet the requirements of the non-discrimination rules, the Plan refunded a portion of the contributions made by highly compensated participants, in accordance with applicable provisions of the IRC. Additionally, the Plan is required to return contributions received from participants during the Plan year in excess of the IRC limits. Refunds are accrued within excess contributions payable to participants in the Statements of Net Assets Available for Benefits and reduce participant contributions on the Statement of Changes in Net Assets Available for Benefits. There was no refund for 2021. The net refund for 2020, paid in 2021, totaled $1,098 and included approximately $163 of investment earnings.

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NORDSTROM 401(k) PLAN

SCHEDULE H, LINE 4(a) — SCHEDULE OF DELINQUENT PARTICIPANT CONTRIBUTIONS

FOR THE YEAR ENDED December 31, 2021

EIN: 91-0515058

Plan #: 001

(Dollars in ones)


	Total That Constitutes Nonexempt Prohibited Transactions			Total Fully Corrected Under VFCP and PTE 2002-51
Participant Contributions Transferred Late to the Plan	Contributions Not Corrected*	Contributions Corrected Outside of VFCP	Contributions Pending Correction in VFCP
Check here if late participant loan contributions are included:
2021	$327	$2,857	—	—

* The late contributions were deposited in March 2022.

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NORDSTROM 401(k) PLAN

SCHEDULE H, LINE 4(i) — SCHEDULE OF ASSETS (HELD AT END OF YEAR)

AS OF December 31, 2021

EIN: 91-0515058

Plan #: 001

(Dollars in thousands)

(a)

(b) Identity of issue, borrower, lessor, or similar party

(d) Cost

(e) Current Value ($)

Capital Group EuroPacific Fund

CCT

$594,317

EB Temporary Investment Fund

CCT - due 12/31/2049 - 1.147%

45,445

Loomis Core Plus Fixed Income Fund

CCT

462,455

Putnam Stable Value Fund

CCT

308,862

Schroder Collective International Multi-Cap Equity Trust

CCT

256,605

SSGA TIPS Index

CCT

74,615

10x Genomics, Inc.

Common stock

3,024

Abiomed, Inc.

Common stock

5,214

Acadia Healthcare Co., Inc.

Common stock

3,992

Adobe Inc.

Common stock

8,284

Advanced Micro Devices, Inc.

Common stock

6,219

Aegon N.V.

Common stock

1,517

Alarm.com Holdings, Inc.

Common stock

3,880

Alnylam Pharmaceuticals, Inc.

Common stock

1,950

Alphabet Inc. Class A

Common stock

14,682

Alphabet Inc. Class C

Common stock

12,442

Amazon.com, Inc.

Common stock

16,962

Amedisys, Inc.

Common stock

2,403

American Express Co.

Common stock

3,436

AMETEK, Inc.

Common stock

2,302

Anheuser-Busch InBev SA/NV

Common stock

2,531

Apple Inc.

Common stock

20,002

Ares Management Corp.

Common stock

4,299

Avalara, Inc.

Common stock

3,761

Axon Enterprise, Inc.

Common stock

5,068

Azenta, Inc.

Common stock

6,054

Baker Hughes Co.

Common stock

2,803

Bank of America Corp.

Common stock

7,141

Bill.com Holdings, Inc.

Common stock

1,839

BioMarin Pharmaceutical, Inc.

Common stock

2,916

Bio-Techne Corp.

Common stock

5,776

Blueprint Medicines Corp.

Common stock

3,199

Booking Holdings Inc.

Common stock

3,359

Bright Horizons Family Solutions Inc.

Common stock

4,271

Brighthouse Financial, Inc.

Common stock

1,476

Bristol-Myers Squibb Co.

Common stock

4,053

Builders FirstSource, Inc.

Common stock

9,860

Burlington Stores, Inc.

Common stock

5,108

BWX Technologies, Inc.

Common stock

5,202

Cable One, Inc.

Common stock

3,425

Cameco Corp.

Common stock

4,454

Capital One Financial Corp.

Common stock

11,332

Carrier Global Corp.

Common stock

2,446

CDW Corp.

Common stock

2,526

*Party-in-interest

**Cost information is not required for participant-directed investments and therefore is not included.

(a)

(b) Identity of issue, borrower, lessor, or similar party

(d) Cost

(e) Current Value ($)

Celanese Corp.

Common stock

2,353

Celsius Holdings, Inc.

Common stock

2,201

Certara, Inc.

Common stock

2,191

Charles River Laboratories International, Inc.

Common stock

6,179

Chart Industries, Inc.

Common stock

1,905

Charter Communications, Inc.

Common stock

7,367

Chemed Corp.

Common stock

4,110

Chipotle Mexican Grill, Inc.

Common stock

3,030

Cigna Corp.

Common stock

9,530

Cisco Systems, Inc.

Common stock

7,066

Cognizant Technology Solutions

Common stock

6,210

Comcast Corp.

Common stock

9,125

ConocoPhillips

Common stock

3,883

Constellation Brands, Inc.

Common stock

5,465

CoStar Group, Inc.

Common stock

2,890

Crown Holdings, Inc.

Common stock

9,382

CVS Health Corp.

Common stock

3,507

Danaher Corp.

Common stock

4,383

Darden Restaurants, Inc.

Common stock

3,326

Datadog, Inc.

Common stock

1,804

Dell Technologies, Inc.

Common stock

4,977

Denbury, Inc.

Common stock

4,074

DexCom, Inc.

Common stock

4,373

Diamondback Energy, Inc.

Common stock

1,580

Dish Network Corp.

Common stock

2,838

Dynatrace, Inc.

Common stock

6,043

Eaton Corp. PLC

Common stock

3,928

Elanco Animal Health, Inc.

Common stock

1,618

Eli Lilly & Company

Common stock

7,454

Entegris, Inc.

Common stock

6,128

Euronet Worldwide, Inc.

Common stock

5,328

Expedia Group, Inc.

Common stock

2,929

FedEx Corp.

Common stock

9,699

FirstService Corp.

Common stock

3,278

Fiserv, Inc.

Common stock

8,563

Fox Corp.

Common stock

5,098

Fox Factory Holding Corp.

Common stock

4,853

Gartner, Inc.

Common stock

2,681

Gilead Sciences, Inc.

Common stock

6,825

GlaxoSmithKline PLC

Common stock

10,055

Guidewire Software, Inc.

Common stock

3,618

Halliburton Co.

Common stock

526

Halozyme Therapeutics, Inc.

Common stock

3,496

HealthEquity, Inc.

Common stock

2,753

HEICO Corp.

Common stock

2,287

Helen of Troy Ltd.

Common stock

2,174

Hess Corp.

Common stock

2,132

Hewlett Packard Enterprise Co.

Common stock

4,176

Honda Motor Co. Ltd.

Common stock

3,092

Horizon Therapeutics PLC

Common stock

7,569

HP, Inc.

Common stock

9,380

*Party-in-interest

**Cost information is not required for participant-directed investments and therefore is not included.

(a)

(b) Identity of issue, borrower, lessor, or similar party

(d) Cost

(e) Current Value ($)

II-VI, Inc.

Common stock

553

Incyte Corp.

Common stock

2,569

Insmed, Inc.

Common stock

2,185

Inspire Medical Systems, Inc.

Common stock

3,415

Intuit, Inc.

Common stock

7,856

Johnson Controls International PLC

Common stock

9,513

Juniper Networks, Inc.

Common stock

3,785

Kornit Digital Ltd.

Common stock

2,135

Leslie's, Inc.

Common stock

4,742

Ligand Pharmaceuticals, Inc.

Common stock

3,229

Lincoln Electric Holdings, Inc.

Common stock

2,420

Lincoln National Corp.

Common stock

727

Live Nation Entertainment, Inc.

Common stock

3,095

LKQ Corp.

Common stock

2,546

LPL Financial Holdings, Inc.

Common stock

682

LyondellBasell Industries N.V.

Common stock

498

Martin Marietta Materials, Inc.

Common stock

5,475

Marvell Technology, Inc.

Common stock

5,928

Medtronic PLC

Common stock

1,138

Mercury Systems, Inc.

Common stock

3,106

Merit Medical Systems, Inc.

Common stock

2,818

Meta Platforms, Inc.

Common stock

5,348

MetLife, Inc.

Common stock

9,092

Micro Focus International PLC

Common stock

558

Microchip Technology, Inc.

Common stock

6,051

Microsoft Corp.

Common stock

31,841

MKS Instruments, Inc.

Common stock

2,090

Molson Coors Beverage Co.

Common stock

3,476

Motorola Solutions, Inc.

Common stock

2,132

MSCI Inc.

Common stock

4,489

National Instruments Corp.

Common stock

3,599

National Vision Holdings, Inc.

Common stock

3,585

Netflix, Inc.

Common stock

4,442

New Fortress Energy, Inc.

Common stock

1,713

News Corp.

Common stock

620

Nice Ltd.

Common stock

5,795

Nike, Inc.

Common stock

4,625

Nordstrom, Inc.

Common stock

71,681

Novanta, Inc.

Common stock

3,135

Novartis AG

Common stock

6,210

Nvidia Corp.

Common stock

8,728

Occidental Petroleum Corp.

Common stock

8,041

O'Reilly Automotive, Inc.

Common stock

4,271

Otis Worldwide Corp.

Common stock

1,262

Overstock.com, Inc.

Common stock

2,608

Pacific Biosciences of California, Inc.

Common stock

1,874

Palo Alto Networks, Inc.

Common stock

3,106

Paycom Software, Inc.

Common stock

3,367

Pegasystems, Inc.

Common stock

2,432

Penumbra, Inc.

Common stock

5,773

Performance Food Group Co.

Common stock

3,993

*Party-in-interest

**Cost information is not required for participant-directed investments and therefore is not included.

(a)

(b) Identity of issue, borrower, lessor, or similar party

(d) Cost

(e) Current Value ($)

Philip Morris International Inc.

Common stock

4,006

Pure Storage, Inc.

Common stock

7,295

Qualcomm, Inc.

Common stock

4,627

Quanta Services, Inc.

Common stock

2,960

Qurate Retail, Inc.

Common stock

1,028

Raytheon Technologies Corp.

Common stock

7,918

Regeneron Pharmaceuticals, Inc.

Common stock

316

Revolve Group, Inc.

Common stock

3,511

Ritchie Bros Auctioneers, Inc.

Common stock

3,339

Roblox Corp.

Common stock

1,403

Roche Holding AG

Common stock

4,549

Ross Stores, Inc.

Common stock

3,682

Royal Caribbean Cruises Ltd.

Common stock

2,181

Sanofi

Common stock

11,974

SBA Communications Corp.

Common stock

3,681

Schlumberger Ltd.

Common stock

3,399

ServiceNow, Inc.

Common stock

4,713

Snap, Inc.

Common stock

1,161

SolarEdge Technologies, Inc.

Common stock

4,456

State Street Corp.

Common stock

5,236

Stem, Inc.

Common stock

1,514

Take-Two Interactive Software, Inc.

Common stock

2,616

TE Connectivity Ltd.

Common stock

4,840

Teleflex, Inc.

Common stock

461

The Bank of New York Mellon Corp.

Common stock

7,957

The Beauty Health Co.

Common stock

2,085

The Brink's Co.

Common stock

4,983

The Charles Schwab Corp.

Common stock

14,802

The Gap, Inc.

Common stock

1,077

The Goldman Sachs Group, Inc.

Common stock

6,771

The Williams Cos., Inc.

Common stock

4,685

Tesla, Inc.

Common stock

3,431

T-Mobile US, Inc.

Common stock

4,465

TransDigm Group, Inc.

Common stock

2,541

Trex Co., Inc.

Common stock

7,643

Truist Financial Corp.

Common stock

2,342

Twist Bioscience Corp.

Common stock

2,139

UnitedHealth Group, Inc.

Common stock

4,519

Varonis Systems, Inc.

Common stock

2,956

Veracyte, Inc.

Common stock

2,801

VIRTU Financial, Inc.

Common stock

4,895

VMware, Inc.

Common stock

6,754

Waste Connections, Inc.

Common stock

1,819

Wells Fargo & Co.

Common stock

14,922

Western Alliance Bancorp

Common stock

4,302

Wolfspeed, Inc.

Common stock

2,243

Workiva, Inc.

Common stock

3,345

Wyndham Hotels & Resorts, Inc.

Common stock

6,368

Zebra Technologies Corp.

Common stock

2,377

Zynga, Inc.

Common stock

3,204

Abbvie, Inc.

Corporate Debt - due 11/21/2039 - 4.050%

484

*Party-in-interest

**Cost information is not required for participant-directed investments and therefore is not included.

(a)

(b) Identity of issue, borrower, lessor, or similar party

(d) Cost

(e) Current Value ($)

Anheuser-Busch Cos. LLC

Corporate Debt - due 02/01/2046 - 4.900%

222

Anheuser-Busch InBev Worldwide

Corporate Debt - due 06/01/2060 - 4.600%

249

AT&T Inc.

Corporate Debt - due 03/09/2048 - 4.500%

325

AT&T Inc.

Corporate Debt - due 11/15/2031 - Variable

136

AT&T Inc.

Corporate Debt - due 09/15/2053 - 3.500%

522

AT&T Inc.

Corporate Debt - due 09/15/2055 - 3.550%

208

AT&T Inc.

Corporate Debt - due 09/15/2059 - 3.650%

1,458

Bank of America Corp.

Corporate Debt - due 08/26/2024 - 4.200%

482

Bank of America Corp.

Corporate Debt - due 03/03/2026 - 4.450%

165

Bank of America Corp.

Corporate Debt - due 11/25/2027 - 4.183%

246

Bank of America Corp.

Corporate Debt - due 12/20/2023 - Variable

990

Bank of America Corp.

Corporate Debt - due 03/20/2051 - Variable

211

Barclays PLC

Corporate Debt - due 09/11/2024 - 4.375%

321

Barclays PLC

Corporate Debt - due 05/09/2028 - 4.836%

634

B.A.T. Capital Corp.

Corporate Debt - due 08/15/2047 - 4.540%

210

B.A.T. Capital Corp.

Corporate Debt - due 03/25/2028 - 2.259%

146

B.A.T. Capital Corp.

Corporate Debt - due 03/25/2031 - 2.726%

364

B.A.T. Capital Corp.

Corporate Debt - due 09/25/2040 - 3.734%

B.A.T. Capital Corp.

Corporate Debt - due 09/25/2050 - 3.984%

Bayer US Finance II LLC 144A

Corporate Debt - due 12/15/2028 - 4.375%

978

BNP Paribas S.A.

Corporate Debt - due 10/15/2024 - 4.250%

890

BNP Paribas S.A. 144A

Corporate Debt - due 09/28/2025 - 4.375%

786

BNP Paribas S.A. 144A

Corporate Debt - due 03/13/2027 - 4.625%

1,026

BNSF Railway Co 2007-1 Pass Through Trust

Corporate Debt - due 04/01/2024 - 5.996%

Boston Properties LP

Corporate Debt - due 02/01/2026 - 3.650%

241

Boston Properties LP

Corporate Debt - due 01/15/2025 - 3.200%

183

Boston Properties LP

Corporate Debt - due 03/15/2030 - 2.900%

306

Boston Properties LP

Corporate Debt - due 01/30/2031 - 3.250%

314

Capital One Financial Corp.

Corporate Debt - due 02/05/2025 - 3.200%

445

Capital One Financial Corp.

Corporate Debt - due 10/29/2025 - 4.200%

517

CCO Holdings LLC / CCO Holdings Capital Corp. 144A

Corporate Debt - due 06/01/2033 - 4.500%

510

CCO Holdings LLC / CCO Holdings Capital Corp. 144A

Corporate Debt - due 01/15/2034 - 4.250%

418

CEMEX S.A.B. de C.V. 144A

Corporate Debt - due 11/19/2029 - 5.450%

214

CEMEX S.A.B. de C.V. 144A

Corporate Debt - due 09/17/2030 - 5.200%

1,289

Charter Communications Operating LLC

Corporate Debt - due 10/23/2045 - 6.484%

2,054

Charter Communications Operating LLC

Corporate Debt - due 05/01/2047 - 5.375%

389

Charter Communications Operating LLC

Corporate Debt - due 04/01/2048 - 5.750%

782

Cigna Corp.

Corporate Debt - due 07/15/2023 - 3.750%

102

Cigna Corp.

Corporate Debt - due 05/15/2027 - 7.875%

246

Citigroup, Inc.

Corporate Debt - due 06/15/2032 - 6.625%

332

Citigroup, Inc.

Corporate Debt - due 05/15/2023 - 3.500%

103

Citigroup, Inc.

Corporate Debt - due 08/05/2024 - 4.000%

773

Cox Communications, Inc. 144A

Corporate Debt - due 02/01/2025 - 3.850%

436

Cox Communications, Inc. 144A

Corporate Debt - due 08/15/2027 - 3.500%

322

CSX Transportation, Inc.

Corporate Debt - due 01/15/2023 - 6.251%

134

CVS Health Corp.

Corporate Debt - due 03/25/2038 - 4.780%

764

CVS Health Corp.

Corporate Debt - due 04/01/2040 - 4.125%

201

Dillard's, Inc.

Corporate Debt - due 05/15/2027 - 7.750%

504

Dominion Energy, Inc.

Corporate Debt - due 10/01/2054 - Variable

747

Dominion Energy, Inc.

Corporate Debt - due 04/15/2026 - 1.450%

198

Elanco Animal Health, Inc.

Corporate Debt - due 08/28/2023 - Variable

106

*Party-in-interest

**Cost information is not required for participant-directed investments and therefore is not included.

(a)

(b) Identity of issue, borrower, lessor, or similar party

(d) Cost

(e) Current Value ($)

Elanco Animal Health, Inc.

Corporate Debt - due 08/28/2028 - Variable

435

Enel Finance International N.V. 144A

Corporate Debt - due 09/15/2037 - 6.800%

357

Enel Finance International N.V. 144A

Corporate Debt - due 10/07/2039 - 6.000%

666

Exxon Mobil Corp.

Corporate Debt - due 03/19/2040 - 4.227%

207

Exxon Mobil Corp.

Corporate Debt - due 10/15/2030 - 2.610%

285

Federal Express Corp. 1998 Pass

Corporate Debt - due 07/15/2023 - 6.720%

FedEx Corp.

Corporate Debt - due 05/15/2030 - 4.250%

199

FedEx Corp.

Corporate Debt - due 05/15/2050 - 5.250%

235

Ford Motor Credit Co. LLC

Corporate Debt - due 06/16/2025 - 5.125%

489

Ford Motor Credit Co. LLC

Corporate Debt - due 11/13/2025 - 3.375%

208

Ford Motor Credit Co. LLC

Corporate Debt - due 08/10/2026 - 2.700%

731

Ford Motor Credit Co. LLC

Corporate Debt - due 08/06/2023 - 4.375%

676

Ford Motor Credit Co. LLC

Corporate Debt - due 01/09/2024 - 3.810%

233

Ford Motor Credit Co. LLC

Corporate Debt - due 01/07/2022 - 5.596%

325

Ford Motor Credit Co. LLC

Corporate Debt - due 11/01/2024 - 4.063%

526

HCA, Inc.

Corporate Debt - due 06/15/2039 - 5.125%

309

HSBC Holding plc

Corporate Debt - due 05/02/2036 - 6.500%

1,190

HSBC Holding plc

Corporate Debt - due 09/15/2037 - 6.500%

624

HSBC Holding plc

Corporate Debt - due 03/08/2026 - 4.300%

219

HSBC Holding plc

Corporate Debt - due 03/31/2030 - 4.950%

793

HSBC Holding plc

Corporate Debt - due 08/18/2031 - Variable

489

HSBC Holding plc

Corporate Debt - due 05/24/2025 - Variable

519

Imperial Brands Finance PLC 144A

Corporate Debt - due 07/26/2029 - 3.875%

822

Imperial Brands Finance PLC 144A

Corporate Debt - due 07/21/2025 - 4.250%

1,799

JPMorgan Chase & Co.

Corporate Debt - due 12/15/2026 - 4.125%

497

JPMorgan Chase & Co.

Corporate Debt - due 10/01/2027 - 4.250%

196

JPMorgan Chase & Co.

Corporate Debt - due 07/23/2024 - Variable

860

JPMorgan Chase & Co.

Corporate Debt - due 04/22/2031 - Variable

329

JPMorgan Chase & Co.

Corporate Debt - due 05/13/2031 - Variable

415

Kinder Morgan Energy Partners

Corporate Debt - due 09/01/2039 - 6.500%

334

Kinder Morgan Energy Partners

Corporate Debt - due 08/15/2042 - 5.000%

901

Kinder Morgan Energy Partners

Corporate Debt - due 09/01/2044 - 5.400%

823

Lloyds Banking Group plc

Corporate Debt - due 11/04/2024 - 4.500%

620

Lloyds Banking Group plc

Corporate Debt - due 03/24/2026 - 4.650%

578

Microchip Technology, Inc. 144A

Corporate Debt - due 09/01/2024 - 0.983%

491

NatWest Group PLC

Corporate Debt - due 06/14/2027 - Variable

715

NatWest Group PLC

Corporate Debt - due 12/19/2023 - 6.000%

598

NatWest Group PLC

Corporate Debt - due 12/15/2022 - 6.125%

1,203

Nordstrom, Inc.

Corporate Debt - due 03/15/2028 - 6.950%

301

Occidental Petroleum Corp.

Corporate Debt - due 08/15/2026 - 3.200%

103

Occidental Petroleum Corp.

Corporate Debt - due 08/15/2024 - 2.900%

1,097

Oracle Corp.

Corporate Debt - due 04/01/2030 - 2.950%

177

Oracle Corp.

Corporate Debt - due 04/01/2040 - 3.600%

227

Petrobras Global Finance B.V.

Corporate Debt - due 03/17/2044 - 7.250%

222

Petrobras Global Finance B.V.

Corporate Debt - due 03/19/2049 - 6.900%

559

Petrobras Global Finance B.V.

Corporate Debt - due 01/15/2030 - 5.093%

573

Petroleos Mexicanos

Corporate Debt - due 06/15/2035 - 6.625%

673

Petroleos Mexicanos

Corporate Debt - due 01/23/2045 - 6.375%

434

Petroleos Mexicanos

Corporate Debt - due 01/23/2050 - 7.690%

1,689

Petroleos Mexicanos 144A

Corporate Debt - due 02/16/2032 - 6.700%

941

Prosus N.V. 144A

Corporate Debt - due 07/06/2027 - 4.850%

725

*Party-in-interest

**Cost information is not required for participant-directed investments and therefore is not included.

(a)

(b) Identity of issue, borrower, lessor, or similar party

(d) Cost

(e) Current Value ($)

Prosus N.V. 144A

Corporate Debt - due 01/21/2030 - 3.680%

721

Prosus N.V. 144A

Corporate Debt - due 07/13/2031 - 3.061%

1,195

RELX Capital, Inc.

Corporate Debt - due 03/18/2029 - 4.000%

278

Rio Oil Finance Trust Series 144A

Corporate Debt - due 07/06/2024 - 9.250%

801

Rio Oil Finance Trust Series 144A

Corporate Debt - due 01/06/2027 - 9.750%

657

Rio Oil Finance Trust Series 144A

Corporate Debt - due 04/06/2028 - 8.200%

840

SLM Student Loan Trust 20 3 A6

Corporate Debt - due 04/25/2040 - Variable

3,603

SLM Student Loan Trust 20 8 A6

Corporate Debt - due 01/25/2041 - Variable

4,433

Telecom Italia Capital S.A.

Corporate Debt - due 07/18/2036 - 7.200%

143

Telecom Italia Capital S.A.

Corporate Debt - due 06/04/2038 - 7.721%

646

Telecom Italia Spa/Milano 144A

Corporate Debt - due 05/30/2024 - 5.303%

1,079

Time Warner Cable LLC

Corporate Debt - due 07/01/2038 - 7.300%

461

The Coca-Cola Co.

Corporate Debt - due 03/25/2030 - 3.450%

194

The Coca-Cola Co.

Corporate Debt - due 06/01/2030 - 1.650%

338

The Dow Chemical Co.

Corporate Debt - due 05/15/2039 - 9.400%

365

The Dow Chemical Co.

Corporate Debt - due 11/30/2048 - 5.550%

211

The Southern Co.

Corporate Debt - due 01/15/2051 - Variable

767

The Southern Co.

Corporate Debt - due 09/15/2051 - Variable

575

The Walt Disney Co.

Corporate Debt - due 11/15/2037 - 6.650%

668

T-Mobile USA, Inc.

Corporate Debt - due 04/15/2040 - 4.375%

172

T-Mobile USA, Inc.

Corporate Debt - due 04/15/2050 - 4.500%

117

T-Mobile USA, Inc.

Corporate Debt - due 04/15/2030 - 3.875%

465

T-Mobile USA, Inc. 144A

Corporate Debt - due 02/15/2026 - 2.250%

326

T-Mobile USA, Inc. 144A

Corporate Debt - due 04/15/2029 - 3.375%

331

T-Mobile USA, Inc. 144A

Corporate Debt - due 04/15/2031 - 3.500%

338

T-Mobile USA, Inc. 144A

Corporate Debt - due 10/15/2052 - 3.400%

300

TransCanada Trust

Corporate Debt - due 05/20/2075 - Variable

604

TransCanada Trust

Corporate Debt - due 08/15/2076 - Variable

546

TransCanada Trust

Corporate Debt - due 03/15/2077 - Variable

930

TransCanada Trust

Corporate Debt - due 09/15/2079 - Variable

641

Ultrapar International S.A. 144A

Corporate Debt - due 10/06/2026 - 5.250%

370

Ultrapar International S.A. 144A

Corporate Debt - due 06/06/2029 - 5.250%

749

UniCredit S.p.A 144A

Corporate Debt - due 04/02/2034 - Variable

1,020

UniCredit S.p.A 144A

Corporate Debt - due 06/30/2035 - Variable

382

Union Pacific Railroad Co. 2006

Corporate Debt - due 07/02/2030 - 5.866%

562

Verizon Communications, Inc.

Corporate Debt - due 01/15/2036 - 4.272%

558

VMware, Inc.

Corporate Debt - due 08/15/2023 - 0.600%

199

VMware, Inc.

Corporate Debt - due 08/15/2026 - 1.400%

246

Wells Fargo & Co.

Corporate Debt - due 06/03/2026 - 4.100%

273

Wells Fargo & Co.

Corporate Debt - due 07/22/2027 - 4.300%

864

Wells Fargo & Co.

Corporate Debt - due 04/04/2051 - Variable

822

TBA Collateral with Credit Suisse

Interest-Bearing Cash

270

California State

Municipal Debt - due 10/01/2039 - 7.300%

902

Illinois State

Municipal Debt - due 06/01/2033 - 5.100%

1,156

Los Angeles CA Unified School District

Municipal Debt - due 07/01/2034 - 6.758%

592

New Jersey State Turnpike Authority

Municipal Debt - due 01/01/2041 - 7.102%

941

Neuberger Berman Genesis Fund Class R-6

Mutual Fund

223,254

Vanguard Institutional Index Fund

Mutual Fund

761,970

SDB Money Market Fund

Self-directed Brokerage Money Market Fund

4,856

Brokerage Securities

Self-directed Brokerage Securities

47,538

*Party-in-interest

**Cost information is not required for participant-directed investments and therefore is not included.

(a)

(b) Identity of issue, borrower, lessor, or similar party

(d) Cost

(e) Current Value ($)

Participant Loans

Loan interest rates range from 4.25% to 9.25% with various maturities through December 2041

68,623

Citigroup Capital XIII

Preferred Stock - due 10/30/2040 - 6.687%

831

JPMorgan Chase & Co.

Preferred Stock - due 09/01/2030 - 8.750%

680

Vodafone Group PLC

Preferred Stock - due 04/04/2079 - Variable

726

Commitment to purchase FNMA SF Mtg

U.S. Government Securities - due 02/01/2052 - 2.500%

16,264

FHLMC Pool #1H-2592

U.S. Government Securities - due 01/01/2036 - Variable

FHLMC Pool #78-1274

U.S. Government Securities - due 02/01/2034 - Variable

FHLMC Pool #84-0286

U.S. Government Securities - due 05/01/2046 - Variable

114

FHLMC Pool #84-9254

U.S. Government Securities - due 01/01/2042 - Variable

FHLMC Pool #84-9327

U.S. Government Securities - due 05/01/2044 - Variable

200

FHLMC Pool #84-9505

U.S. Government Securities - due 10/01/2044 - Variable

FHLMC Pool #84-9544

U.S. Government Securities - due 12/01/2044 - Variable

112

FHLMC Pool #84-9625

U.S. Government Securities - due 01/01/2045 - Variable

FHLMC Pool #84-9626

U.S. Government Securities - due 08/01/2044 - Variable

131

FHLMC Pool #84-9849

U.S. Government Securities - due 10/01/2045 - Variable

FHLMC Pool #C9-0981

U.S. Government Securities - due 07/01/2026 - 6.500%

FHLMC Pool #C9-1013

U.S. Government Securities - due 01/01/2027 - 6.500%

FHLMC Pool #G0-7600

U.S. Government Securities - due 03/01/2042 - 4.500%

160

FHLMC Pool #G0-8723

U.S. Government Securities - due 08/01/2046 - 4.000%

1,052

FHLMC Pool #G6-0153

U.S. Government Securities - due 10/01/2044 - 4.500%

106

FHLMC Pool #G6-0764

U.S. Government Securities - due 10/01/2042 - 4.500%

164

FHLMC Pool #G6-1080

U.S. Government Securities - due 03/01/2047 - 4.500%

1,127

FHLMC Pool #H0-1774

U.S. Government Securities - due 09/01/2037 - 6.500%

FHLMC Pool #H0-9197

U.S. Government Securities - due 10/01/2038 - 6.500%

FHLMC Pool #H0-9212

U.S. Government Securities - due 05/01/2038 - 5.500%

FHLMC Pool #Q0-3517

U.S. Government Securities - due 09/01/2041 - 4.500%

150

FHLMC Pool #RA-2958

U.S. Government Securities - due 07/01/2050 - 2.000%

1,750

FHLMC Pool #RA-3053

U.S. Government Securities - due 07/01/2050 - 2.000%

747

FHLMC Pool #RA-3167

U.S. Government Securities - due 07/01/2050 - 2.000%

2,760

FHLMC Pool #Sd-0752

U.S. Government Securities - due 11/01/2051 - 2.500%

1,594

FHLMC Pool #SD-7525

U.S. Government Securities - due 10/01/2050 - 2.500%

3,565

FHLMC Pool #SD-7530

U.S. Government Securities - due 11/01/2050 - 2.500%

1,857

FHLMC Pool #SD-7536

U.S. Government Securities - due 02/01/2051 - 2.500%

998

FHLMC Multiclass Mtg 2957 VZ

U.S. Government Securities - due 02/15/2035 - 5.000%

318

FHLMC Multiclass Mtg 4283 EW

U.S. Government Securities - due 12/15/2043 - Variable

104

FHLMC Multiclass Mtg 4319 MA

U.S. Government Securities - due 03/15/2044 - Variable

188

FNMA Pool #0256851

U.S. Government Securities - due 08/01/2037 - 7.000%

FNMA Pool #0735503

U.S. Government Securities - due 04/01/2035 - 6.000%

FNMA Pool #0735608

U.S. Government Securities - due 03/01/2035 - Variable

FNMA Pool #0745329

U.S. Government Securities - due 07/01/2035 - 6.000%

FNMA Pool #0884704

U.S. Government Securities - due 06/01/2036 - Variable

FNMA Pool #0888154

U.S. Government Securities - due 11/01/2036 - Variable

FNMA Pool #0888367

U.S. Government Securities - due 03/01/2037 - 7.000%

185

FNMA Pool #0889634

U.S. Government Securities - due 02/01/2023 - 6.000%

FNMA Pool #0889984

U.S. Government Securities - due 10/01/2038 - 6.500%

FNMA Pool #0976853

U.S. Government Securities - due 11/01/2029 - 5.500%

FNMA Pool #0995487

U.S. Government Securities - due 08/01/2037 - 6.000%

114

FNMA Pool #0AB1763

U.S. Government Securities - due 11/01/2030 - 4.000%

FNMA Pool #0AB8086

U.S. Government Securities - due 10/01/2037 - 6.000%

FNMA Pool #0AD0121

U.S. Government Securities - due 09/01/2029 - 4.500%

152

*Party-in-interest

**Cost information is not required for participant-directed investments and therefore is not included.

(a)

(b) Identity of issue, borrower, lessor, or similar party

(d) Cost

(e) Current Value ($)

FNMA Pool #0AD0130

U.S. Government Securities - due 08/01/2039 - 6.500%

FNMA Pool #0AD0198

U.S. Government Securities - due 09/01/2038 - 5.500%

FNMA Pool #0AD0217

U.S. Government Securities - due 08/01/2037 - 6.000%

105

FNMA Pool #0AD0218

U.S. Government Securities - due 09/01/2036 - 6.000%

110

FNMA Pool #0AD0964

U.S. Government Securities - due 11/01/2039 - 5.500%

207

FNMA Pool #0AL1845

U.S. Government Securities - due 06/01/2039 - Variable

FNMA Pool #0AL1900

U.S. Government Securities - due 08/01/2026 - 4.500%

FNMA Pool #0AL4577

U.S. Government Securities - due 01/01/2034 - 4.500%

150

FNMA Pool #0AL5145

U.S. Government Securities - due 10/01/2033 - 4.000%

231

FNMA Pool #0AL5749

U.S. Government Securities - due 07/01/2042 - 4.500%

156

FNMA Pool #0AL6120

U.S. Government Securities - due 11/01/2044 - Variable

374

FNMA Pool #0AL6132

U.S. Government Securities - due 03/01/2029 - 4.500%

FNMA Pool #0AL6245

U.S. Government Securities - due 01/01/2045 - Variable

123

FNMA Pool #0AL7205

U.S. Government Securities - due 12/01/2029 - 3.500%

177

FNMA Pool #0AL7384

U.S. Government Securities - due 09/01/2045 - 4.500%

135

FNMA Pool #0AL8556

U.S. Government Securities - due 08/01/2044 - 4.500%

746

FNMA Pool #0AL8816

U.S. Government Securities - due 09/01/2045 - 4.500%

178

FNMA Pool #0AL8919

U.S. Government Securities - due 07/01/2046 - Variable

FNMA Pool #0AL9407

U.S. Government Securities - due 09/01/2042 - 4.500%

FNMA Pool #0AL9781

U.S. Government Securities - due 02/01/2046 - 4.500%

279

FNMA Pool #0AO4105

U.S. Government Securities - due 06/01/2042 - Variable

FNMA Pool #0AO8469

U.S. Government Securities - due 05/01/2042 - Variable

FNMA Pool #0AP7562

U.S. Government Securities - due 09/01/2042 - Variable

268

FNMA Pool #0AW4697

U.S. Government Securities - due 05/01/2044 - Variable

FNMA Pool #0BF0118

U.S. Government Securities - due 06/01/2056 - 4.500%

401

FNMA Pool #0BH7071

U.S. Government Securities - due 12/01/2047 - 4.500%

267

FNMA Pool #0BM1357

U.S. Government Securities - due 01/01/2043 - 4.500%

390

FNMA Pool #0BM6149

U.S. Government Securities - due 10/01/2049 - Variable

276

FNMA Pool #0CA6271

U.S. Government Securities - due 07/01/2050 - 2.500%

3,876

FNMA Pool #0CA6329

U.S. Government Securities - due 07/01/2050 - 2.500%

4,730

FNMA Pool #0CA6398

U.S. Government Securities - due 07/01/2050 - 2.500%

1,421

FNMA Pool #0CA6662

U.S. Government Securities - due 08/01/2050 - 2.000%

2,900

FNMA Pool #0CA6925

U.S. Government Securities - due 09/01/2050 - 2.000%

1,469

FNMA Pool #0CA8099

U.S. Government Securities - due 12/01/2050 - 2.000%

2,329

FNMA Pool #0CA8847

U.S. Government Securities - due 02/01/2051 - 2.000%

2,312

FNMA Pool #0FM4714

U.S. Government Securities - due 10/01/2050 - 2.500%

2,975

FNMA Pool #0FM8206

U.S. Government Securities - due 08/01/2051 - 2.500%

493

FNMA Pool #0FM8768

U.S. Government Securities - due 02/01/2051 - 2.500%

407

FNMA Pool #0MA0232

U.S. Government Securities - due 11/01/2029 - 4.500%

183

FNMA Pool #0MA2366

U.S. Government Securities - due 08/01/2035 - 4.000%

165

FNMA Pool #0MA2455

U.S. Government Securities - due 11/01/2035 - 4.000%

353

FNMA Pool #0MA2480

U.S. Government Securities - due 12/01/2035 - 4.000%

185

FNMA Pool #0MA2880

U.S. Government Securities - due 01/01/2037 - 4.000%

878

FNMA Pool #0MA2923

U.S. Government Securities - due 03/01/2037 - 3.500%

394

FNMA GTD Remic P/T 01-79 BA

U.S. Government Securities - due 03/25/2045 - 7.000%

FNMA GTD Remic P/T 01-T10 A1

U.S. Government Securities - due 12/25/2041 - 7.000%

130

FNMA GTD Remic P/T 04-W2 5A

U.S. Government Securities - due 03/25/2044 - 7.500%

124

FNMA GTD Remic P/T 07-50 DZ

U.S. Government Securities - due 06/25/2037 - 5.500%

249

FNMA GTD Remic P/T 07-W10 2A

U.S. Government Securities - due 08/25/2047 - Variable

FNMA GTD Remic P/T 12-46 BA

U.S. Government Securities - due 05/25/2042 - 6.000%

220

FNMA GTD Remic P/T 13-128 CF

U.S. Government Securities - due 12/25/2043 - Variable

446

*Party-in-interest

**Cost information is not required for participant-directed investments and therefore is not included.

(a)

(b) Identity of issue, borrower, lessor, or similar party

(d) Cost

(e) Current Value ($)

GNMA GTD Remic P/T 15-H23 FA

U.S. Government Securities - due 09/20/2065 - Variable

566

GNMA GTD Remic P/T 16-H24 FD

U.S. Government Securities - due 11/20/2066 - Variable

1,067

GNMA GTD Remic P/T 17-H24 FQ

U.S. Government Securities - due 11/20/2067 - Variable

1,650

GNMA GTD Remic P/T 19-H02 FG

U.S. Government Securities - due 12/20/2068 - Variable

405

GNMA GTD Remic P/T 19-H17 FA

U.S. Government Securities - due 11/20/2069 - Variable

590

GNMA GTD Remic P/T 20-H01 FV

U.S. Government Securities - due 01/20/2070 - Variable

3,327

GNMA GTD Remic P/T 21-H19 FM

U.S. Government Securities - due 12/20/2071 - Variable

977

SBA GTD Partn Ctfs 2006-20E 1

U.S. Government Securities - due 05/01/2026 - 5.870%

SBA GTD Partn Ctfs 2007-20B 1

U.S. Government Securities - due 02/01/2027 - 5.490%

SBA GTD Partn Ctfs 2007-20D 1

U.S. Government Securities - due 04/01/2027 - 5.320%

U.S. Treasury Bond

U.S. Government Securities - due 11/15/2050 - 1.625%

865

U.S. Treasury Bond

U.S. Government Securities - due 11/15/2041 - 2.000%

1,471

U.S. Treasury Note

U.S. Government Securities - due 08/15/2030 - 0.625%

558

U.S. Treasury Note

U.S. Government Securities - due 10/31/2025 - 0.250%

3,384

U.S. Treasury Note

U.S. Government Securities - due 11/15/2030 - 0.875%

8,979

U.S. Treasury Note

U.S. Government Securities - due 12/31/2025 - 0.375%

4,912

U.S. Treasury Note

U.S. Government Securities - due 01/15/2024 - 0.125%

1,841

U.S. Treasury Note

U.S. Government Securities - due 02/15/2031 - 1.125%

2,832

U.S. Treasury Note

U.S. Government Securities - due 04/30/2026 - 0.750%

6,226

U.S. Treasury Note

U.S. Government Securities - due 06/15/2024 - 0.250%

2,685

U.S. Treasury Note

U.S. Government Securities - due 07/31/2026 - 0.625%

2,481

U.S. Treasury Note

U.S. Government Securities - due 09/30/2028 - 1.250%

4,065

U.S. Treasury Note

U.S. Government Securities - due 10/31/2023 - 0.375%

1,443

U.S. Treasury Note

U.S. Government Securities - due 10/31/2026 - 1.125%

2,629

Total assets held for investment

4,004,627

*Party-in-interest

**Cost information is not required for participant-directed investments and therefore is not included.

Document

Exhibit 99.3

AMENDMENT 2021-1

NORDSTROM 401(k) PLAN

(January 1, 2021 Restatement)

The Nordstrom 401(k) Plan (the “Plan”) is hereby amended as follows, pursuant to Plan Sections 15.2 and 15.5.1, to reflect changes made consistent with the Bipartisan Budget Act of 2018 and to provide for matching contributions to be made with respect to catch-up contributions. These amendments will be effective as indicated below:

1.The first paragraph of Section 5.4.1 is amended effective January 1, 2021 by deleting that paragraph in its entirety and replacing it with the following:

5.4.1 Description of Matching Contributions. Effective January 1, 2021, the Employer shall make Matching Contributions with respect to Salary Deferrals, including Automatic Salary Deferrals made pursuant to Section 5.2.2(b) and Catch-Up Contributions made pursuant to Section 5.2.3, and the following formula:

2.The second sentence of Section 6.8.1 is amended effective January 1, 2021 by deleting that sentence in its entirety and replacing it with the following two sentences:

The Plan shall satisfy the nondiscrimination tests in Code § 401(k)(3) in accordance with Treasury Regulation section 1.401(k)-2 but only for Plan Years prior to January 1, 2021. The Plan shall satisfy the nondiscrimination tests in Code § 401(m) in accordance with Treasury Regulation section 1.401(m)-2.

3.Section 9.7.1 is amended effective February 18, 2021 by deleting that section in its entirety and replacing it with the following:

9.7.1 Maximum Amount. Withdrawals shall not exceed the value of the Participant’s Rollover Account, Elective Deferral Account, and Employer Profit Sharing Contributions Account on the date the withdrawal is processed. Prior to February 18, 2021, earnings in a Participant’s Elective Deferral Account were not included in determining the value of that account for purposes of a hardship withdrawal.

4.Paragraph (f) of Section 9.7.2 is amended effective January 1, 2019 by deleting that paragraph in its entirety and replacing it with the following:

(f) uninsured expenses for the repair of damage to the Participant’s principal residence that would qualify for the casualty deduction under Code § 165 (determined without regard to Code § 165(h)(5) and whether the loss exceeds 10% of the Participant’s adjusted gross income); or

5.Paragraph (b) of Section 9.7.3 is amended effective January 1, 2019 by deleting that paragraph in its entirety and replacing it with the following:

(b) Excepting hardship withdrawals made under Section 9.7.2(g), the Administrator shall require the Participant to provide written certification of the

facts and circumstances establishing that Participant has met one of the hardship categories and may consider other relevant evidence. Such written certification shall require the Participant to represent that the financial need cannot reasonably be relieved: (1) through reimbursement or compensation by insurance or otherwise; (2) by liquidation of the Participant’s assets; (3) by other currently available distributions under the Plan and under any other plan maintained by the Employer or by any other employer; or (4) by borrowing from commercial sources on reasonable commercial terms in an amount sufficient to satisfy the need. A Participant’s need cannot reasonably be relieved by taking one of the above actions (1) through (4) if the effect would be to increase the amount of the need.

6.Section 9.7.3 is amended effective January 1, 2019 by addition of a new paragraph (d) at the end of that section in its entirety to read as follows:

(d) Prior to January 1, 2019, the Plan provided that if a Participant received a hardship withdrawal from the Plan, the Participant’s Elective Deferrals under the Plan would be suspended for 6 months from the date of the withdrawal. Effective January 1, 2019, the suspension requirement is removed.

7.Section 9.7.6 is amended effective January 1, 2021 by deleting that section in its entirety and replacing it with the following:

9.7.6 Ordering Rule. Hardship withdrawals are not available unless and until the Participant has first exhausted all other sources of funds to satisfy the hardship, including but not limited to other withdrawals available from this Plan. Notwithstanding the foregoing, a Participant shall not be required to take a loan under the Plan prior to receiving a hardship withdrawal. Hardship withdrawals will be made from all available sources in accordance with procedures adopted by the Plan Administrator.

* * *

IN WITNESS WHEREOF, pursuant to proper authority, this Amendment 2021-1 has been executed on behalf of the Company this ______ day of December, 2021.

NORDSTROM, INC.

By: __________________________________

Farrell Redwine

Title: Chief Human Resources Officer