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

Signature
By: De Anna Mekwunye, Power of Attorney For: Sarah Gilligan
Stock symbol
GAP
Transactions as of
Aug 23, 2024
Transactions value $
-$199,920
Form type
4
Date filed
8/26/2024, 04:55 PM
Previous filing
Aug 16, 2024
Next filing
Sep 16, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GAP Common Stock Options Exercise $100K +12K $8.34 12K Aug 23, 2024 Direct F1
transaction GAP Common Stock Sale -$300K -12K -100% $25.00 0 Aug 23, 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 -12K -100% $0.00 0 Aug 23, 2024 Common Stock 12K $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