Katrina O'Connell - Mar 20, 2024 Form 4 Insider Report for GAP INC (GPS)

Role
Chief Financial Officer
Signature
By: De Anna Mekwunye, Power of Attorney For: Katrina O'Connell
Stock symbol
GPS
Transactions as of
Mar 20, 2024
Transactions value $
-$49,206
Form type
4
Date filed
3/21/2024, 09:21 PM
Previous filing
Mar 20, 2024
Next filing
Mar 26, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GPS Common Stock Options Exercise $471K +20K $23.54 20K Mar 20, 2024 Direct F1
transaction GPS Common Stock Sale -$520K -20K -100% $26.00 0 Mar 20, 2024 Direct F1, F2

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 Non-Qualified Stock Option (right to buy) Options Exercise $0 -20K -100% $0.00* 0 Mar 20, 2024 Common Stock 20K $23.54 Direct F1, F3
* 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 August 28, 2023.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.00 to $26.01, 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 The option represents a right to purchase a total of 20,000 shares exercisable in four equal annual installments beginning on March 13, 2018, which was the first anniversary of the date on which the option was granted.