Sarah Gilligan - Mar 14, 2024 Form 4 Insider Report for GAP INC (GPS)

Role
Chief Sup Chn & Transform Ofcr
Signature
By: De Anna Mekwunye, Power of Attorney For: Sarah Gilligan
Stock symbol
GPS
Transactions as of
Mar 14, 2024
Transactions value $
-$704,603
Form type
4
Date filed
3/15/2024, 06:25 PM
Previous filing
Mar 14, 2024
Next filing
Mar 18, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GPS Common Stock Sale -$665K -29.4K -100% $22.58 0 Mar 14, 2024 Direct F1, F2
transaction GPS Common Stock Options Exercise $0 +3.44K $0.00 3.44K Mar 14, 2024 Direct
transaction GPS Common Stock Tax liability -$40.1K -1.74K -50.65% $23.00 1.7K Mar 14, 2024 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction GPS Restricted Stock Unit Options Exercise $0 -3.44K -3.2% $0.00 104K Mar 14, 2024 Common Stock 3.44K $0.00 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on April 6, 2023.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.28 to $22.92, inclusive. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
F3 Each restricted stock unit represents a contingent right to receive one share of Gap Inc. Common Stock.
F4 On March 14, 2022, the reporting person was granted 13,755 restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date.