William Sydney Fisher - Jun 30, 2023 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, 2023
Transactions value $
$0
Form type
4
Date filed
7/5/2023, 09:00 PM
Previous filing
Mar 3, 2023
Next filing
Nov 29, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GPS Common Stock Options Exercise $0 +12.7K +0.12% $0.00 11M Jun 30, 2023 Direct F1
transaction GPS Common Stock Options Exercise $0 +1.79K +0.02% $0.00 11M Jun 30, 2023 Direct F2
transaction GPS Common Stock Gift $0 -15.5K -0.14% $0.00 11M Jun 30, 2023 Direct F3
holding GPS Common Stock 27M Jun 30, 2023 By FCH TBMS LLC F4
holding GPS Common Stock 148K Jun 30, 2023 By Spouse
holding GPS Common Stock 4.19M Jun 30, 2023 By Trust
holding GPS Common Stock 15K Jun 30, 2023 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 -12.7K -22.09% $0.00 44.7K Jun 30, 2023 Common Stock 12.7K $0.00 Direct F1
transaction GPS Dividend Equivalent Rights Options Exercise $0 -1.79K -46.54% $0.00 2.06K Jun 30, 2023 Common Stock 1.79K $0.00 Direct 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 12,678 shares were issued in settlement of the stock units originally granted to the reporting person on June 30, 2020. Each stock unit represented the right to receive one share of The Gap, Inc. common stock ("Gap Common Stock").
F2 1,792 shares were issued in settlement of dividend equivalent rights on the above-referenced stock units originally granted to the reporting person on June 30, 2020. Each equivalent right was the economic equivalent of one share of Gap Common Stock.
F3 The transaction set forth herein was made pursuant to a plan adopted on March 17, 2023, that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
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.