Robert J. Fisher - 01 Jul 2024 Form 4 Insider Report for GAP INC (GAP)

Role
Director, 10%+ Owner
Signature
/s/ Jane Spray, Attorney-in-Fact
Issuer symbol
GAP
Transactions as of
01 Jul 2024
Net transactions value
$0
Form type
4
Filing time
02 Jul 2024, 18:31:33 UTC
Previous filing
01 Jul 2024
Next filing
11 Oct 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GPS Common Stock Options Exercise $0 +5,052 +0.06% $0.000000 7,995,559 01 Jul 2024 Direct F1
transaction GPS Common Stock Options Exercise $0 +816 +0.01% $0.000000 7,996,375 01 Jul 2024 Direct F2
transaction GPS Common Stock Gift $0 -7,000 -0.09% $0.000000 7,989,375 01 Jul 2024 Direct F3
holding GPS Common Stock 27,000,000 01 Jul 2024 By FCH TBME LLC F4
holding GPS Common Stock 131,382 01 Jul 2024 By Spouse
holding GPS Common Stock 3,829,502 01 Jul 2024 By Trust
holding GPS Common Stock 15,000 01 Jul 2024 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 -5,052 -9.7% $0.000000 46,782 01 Jul 2024 Common Stock 5,052 $0.000000 Direct F1
transaction GPS Dividend Equivalent Rights Options Exercise $0 -817 -25% $0.000000 2,417 01 Jul 2024 Common Stock 817 $0.000000 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 5,052 shares were issued on July 1, 2024 in settlement of the stock units originally granted to the reporting person on June 30, 2021. Each stock unit represented the right to receive one share of The Gap, Inc. common stock ("Gap Common Stock").
F2 816 shares were issued on July 1, 2024 in settlement of dividend equivalent rights on the above-referenced stock units originally granted to the reporting person on June 30, 2021. Each dividend 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 19, 2024, 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 TBME LLC, a Delaware limited liability company that owns the reported securities. As manager of FCH TBME LLC, the reporting person may be deemed to have an indirect beneficial ownership of the 27,000,000 shares of Gap Common Stock of which FCH TBME LLC has beneficial ownership. The reporting person disclaims beneficial ownership of all shares of Gap Common Stock held by FCH TBME LLC except to the extent of his pecuniary interest therein.