Mark Breitbard - 14 Mar 2025 Form 4 Insider Report for GAP INC (GAP)

Role
President & CEO, Gap Brand
Signature
By: De Anna Mekwunye, Power of Attorney For: Mark Breitbard
Issuer symbol
GAP
Transactions as of
14 Mar 2025
Net transactions value
-$455,395
Form type
4
Filing time
17 Mar 2025, 20:02:48 UTC
Previous filing
14 Mar 2025
Next filing
18 Mar 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GAP Common Stock Sale $327,957 -16,055 -11% $20.43 123,985 14 Mar 2025 Direct F1, F2
transaction GAP Common Stock Options Exercise $0 +12,036 +9.7% $0.000000 136,021 14 Mar 2025 Direct
transaction GAP Common Stock Tax liability $89,393 -4,306 -3.2% $20.76 131,715 14 Mar 2025 Direct
transaction GAP Common Stock Options Exercise $0 +5,283 +4% $0.000000 136,998 15 Mar 2025 Direct
transaction GAP Common Stock Tax liability $38,046 -1,890 -1.4% $20.13 135,108 15 Mar 2025 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 GAP Restricted Stock Unit Options Exercise $0 -12,036 -8.1% $0.000000 136,420 14 Mar 2025 Common Stock 12,036 $0.000000 Direct F3, F4
transaction GAP Restricted Stock Unit Options Exercise $0 -5,283 -3.9% $0.000000 131,137 15 Mar 2025 Common Stock 5,283 $0.000000 Direct F3, F5
* 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 4, 2024.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.02 to $20.96, 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 48,143 restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date.
F5 On March 15, 2021, the reporting person was granted 21,132 restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date.