William Sydney Fisher - Jun 30, 2021 Form 4 Insider Report for GAP INC (GPS)

Role: Director, 10%+ Owner
Signature: /s/ Jane Spray, Attorney-in-fact
Stock symbol: GPS
Transactions as of: Jun 30, 2021
Transactions value $: -$167,150
Form type: 4
Date filed: 7/2/2021, 05:28 PM
Next filing: Mar 4, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GPS	Common Stock	Options Exercise	$0	+4.94K	+0.04%	$0.00	11M	Jun 30, 2021	Direct	F1
transaction	GPS	Common Stock	Options Exercise	$0	+606	+0.01%	$0.00	11M	Jun 30, 2021	Direct	F2
transaction	GPS	Common Stock	Sale	-$167K	-5K	-3.32%	$33.43	146K	Jul 2, 2021	By Spouse	F3
holding	GPS	Common Stock						27M	Jun 30, 2021	By FCH TBMS LLC	F4
holding	GPS	Common Stock						489K	Jun 30, 2021	By Trust
holding	GPS	Common Stock						15K	Jun 30, 2021	By Limited Partnerships

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	Stock Units	Options Exercise	$0	-4.94K	-100%	$0.00^*	0	Jun 30, 2021	Common Stock	4.94K	$0.00	Direct	F1
transaction	GPS	Dividend Equivalent Rights	Options Exercise	$0	-606	-100%	$0.00^*	0	Jun 30, 2021	Common Stock	606	$0.00	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	4,939 shares were issued in settlement of the stock units originally granted to the reporting person on June 30, 2018. Each stock unit represented the right to receive one share of The Gap, Inc. common stock ("Gap Common Stock").
F2	606 shares were issued in settlement of dividend equivalent rights on the above-referenced stock units originally granted to the reporting person on June 30, 2018. Each equivalent right was the economic equivalent of one share of Gap Common Stock.
F3	This transaction was executed in multiple trades at prices ranging from $33.40 to $33.495. The price reported above reflects the weighted average sales price. 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 transaction was effected.
F4	The reporting person is the sole manager and a member of FCH TBMS LLC, a Delaware limited liability company that owns the reported securities. As manager of FCH TBMS LLC, the reporting person may be deemed to have indirect beneficial ownership of the 27,000,000 shares of Gap Common Stock of which FCH TBMS LLC has beneficial ownership. The reporting person disclaims beneficial ownership of all shares of Gap Common Stock held by FCH TBMS LLC except to the extent of his pecuniary interest therein.