Julie Gruber - 14 Mar 2023 Form 4 Insider Report for GAP INC (GAP)

Role
Chief Legal&Compliance Officer
Signature
By: JoAnne Zinman, Power of Attorney For: Julie Gruber
Issuer symbol
GAP
Transactions as of
14 Mar 2023
Net transactions value
-$70,779
Form type
4
Filing time
16 Mar 2023, 18:14:39 UTC
Previous filing
15 Mar 2023
Next filing
24 Mar 2023
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 +11,938 +22% $0.000000 65,129 14 Mar 2023 Direct F1
transaction GPS Common Stock Tax liability $40,978 -4,106 -6.3% $9.98 61,023 14 Mar 2023 Direct
transaction GPS Common Stock Options Exercise $0 +5,588 +9.2% $0.000000 66,611 14 Mar 2023 Direct
transaction GPS Common Stock Tax liability $19,281 -1,932 -2.9% $9.98 64,679 14 Mar 2023 Direct
transaction GPS Common Stock Options Exercise $0 +3,122 +4.8% $0.000000 67,801 15 Mar 2023 Direct
transaction GPS Common Stock Tax liability $10,520 -1,079 -1.6% $9.75 66,722 15 Mar 2023 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 Performance Unit Options Exercise $0 -11,938 -100% $0.000000* 0 14 Mar 2023 Common Stock 11,938 $0.000000 Direct F2, F3
transaction GPS Restricted Stock Unit Options Exercise $0 -5,588 -2.9% $0.000000 187,561 14 Mar 2023 Common Stock 5,588 $0.000000 Direct F4, F5
transaction GPS Restricted Stock Unit Options Exercise $0 -3,122 -1.7% $0.000000 184,439 15 Mar 2023 Common Stock 3,122 $0.000000 Direct F4, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Balance adjusted to reflect shares acquired under the Gap Inc. Employee Stock Purchase Plan.
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 23,875 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 Each restricted stock unit represents a contingent right to receive one share of Gap Inc. Common Stock.
F5 On March 14, 2022, the reporting person was granted 22,352 restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date.
F6 On March 15, 2021, the reporting person was granted 12,487 restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date.