Sonia Syngal - Mar 14, 2022 Form 4 Insider Report for GAP INC (GPS)

Role
CEO Gap, Inc., Director
Signature
By: JoAnne Zinman, Power of Attorney For: Sonia Syngal
Stock symbol
GPS
Transactions as of
Mar 14, 2022
Transactions value $
-$394,365
Form type
4
Date filed
3/16/2022, 05:49 PM
Previous filing
Nov 16, 2021
Next filing
Mar 25, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GPS Common Stock Options Exercise $0 +44.3K +139.31% $0.00 76K Mar 14, 2022 Direct
transaction GPS Common Stock Tax liability -$213K -15.3K -20.13% $13.93 60.7K Mar 14, 2022 Direct
transaction GPS Common Stock Options Exercise $0 +15.6K +25.76% $0.00 76.4K Mar 15, 2022 Direct
transaction GPS Common Stock Options Exercise $0 +17.3K +22.64% $0.00 93.7K Mar 15, 2022 Direct
transaction GPS Common Stock Tax liability -$181K -12.4K -13.26% $14.59 81.2K Mar 15, 2022 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 GPS Non-Qualified Stock Option (right to buy) Award $0 +388K $0.00 388K Mar 14, 2022 Common Stock 388K $13.93 Direct F1
transaction GPS Performance Unit Award $0 +44.3K +282.91% $0.00 59.9K Mar 14, 2022 Common Stock 44.3K $0.00 Direct F2, F3
transaction GPS Performance Unit Options Exercise $0 -15.6K -26.12% $0.00 44.3K Mar 15, 2022 Common Stock 15.6K $0.00 Direct F2, F4
transaction GPS Restricted Stock Unit Award $0 +136K +45.6% $0.00 435K Mar 14, 2022 Common Stock 136K $0.00 Direct F5, F6
transaction GPS Restricted Stock Unit Options Exercise $0 -17.3K -3.98% $0.00 418K Mar 15, 2022 Common Stock 17.3K $0.00 Direct F5, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 14, 2022, the reporting person was granted an option to purchase a total of 387,596 shares, vesting in four equal annual installments beginning on the first anniversary of the grant date.
F2 Each performance unit represents a contingent right to receive one share of Gap Inc. Common Stock.
F3 On March 14, 2022, the Company's Compensation and Management Development Committee certified that the reporting person earned 88,510 Performance Shares following completion of a three-year (2019-2021) performance cycle under the Company's Long-Term Growth program, with half of the award vesting on the certification date and the remainder vesting on the anniversary of such date.
F4 On March 15, 2021, the Company's Compensation and Management Development Committee certified that the reporting person earned 31,285 Performance Shares following completion of a three-year (2018-2020) performance cycle under the Company's Long-Term Growth program, with half of the award vesting on the certification date and the remainder vesting on the anniversary of such date.
F5 Each restricted stock unit represents a contingent right to receive one share of Gap Inc. Common Stock.
F6 On March 14, 2022, the reporting person was granted 136,176 restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date.
F7 On March 15, 2021, the reporting person was granted 69,160 restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date.