Sarah Gilligan - 23 Aug 2024 Form 4 Insider Report for GAP INC (GAP)

Signature
By: De Anna Mekwunye, Power of Attorney For: Sarah Gilligan
Issuer symbol
GAP
Transactions as of
23 Aug 2024
Net transactions value
-$199,920
Form type
4
Filing time
26 Aug 2024, 16:55:45 UTC
Previous filing
16 Aug 2024
Next filing
16 Sep 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GAP Common Stock Options Exercise $100,080 +12,000 $8.34 12,000 23 Aug 2024 Direct F1
transaction GAP Common Stock Sale $300,000 -12,000 -100% $25.00 0 23 Aug 2024 Direct F1

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 GAP Non-Qualified Stock Option (right to buy) Options Exercise $0 -12,000 -100% $0.000000 0 23 Aug 2024 Common Stock 12,000 $8.34 Direct F1, F2
* 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 5, 2024.
F2 The option represents a right to purchase a total of 48,000 shares exercisable in four equal annual installments beginning on March 16, 2021, which was the first anniversary of the date on which the option was granted