Julie Gruber - Jun 3, 2024 Form 4 Insider Report for GAP INC (GPS)

Role
Chief Legal&Compliance Officer
Signature
By: De Anna Mekwunye; Power of Attorney For: Julie Gruber
Stock symbol
GPS
Transactions as of
Jun 3, 2024
Transactions value $
-$1,761,257
Form type
4
Date filed
6/4/2024, 05:13 PM
Previous filing
Mar 27, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % Price $ Shares After Date Ownership Footnotes
transaction GPS Common Stock +Options Exercise $466,303 +74,252 +5365.03% $6.28 75,636 Jun 3, 2024 Direct F1
transaction GPS Common Stock -Sell -$2,227,560 -74,252 -98.17% $30.00 1,384 Jun 3, 2024 Direct F1

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) -Options Exercise $0 -74,252 -61.66% $0.00 46,168 Jun 3, 2024 Common Stock 74,252 $6.28 Direct F1, F2

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 The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 29, 2023.
F2 On March 23, 2020, the reporting person was granted an option to purchase a total of 204,672 shares, vesting in four equal annual installments beginning on the first anniversary of the grant date.