Mark Breitbard - Mar 14, 2023 Form 4 Insider Report for GAP INC (GPS)

Role
President & CEO, Gap Brand
Signature
By: JoAnne Zinman, Power of Attorney For: Mark Breitbard
Stock symbol
GPS
Transactions as of
Mar 14, 2023
Transactions value $
-$300,453
Form type
4
Date filed
3/16/2023, 06:06 PM
Previous filing
Mar 15, 2023
Next filing
Mar 24, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GPS Common Stock Options Exercise $0 +38.2K +38.61% $0.00 137K Mar 14, 2023 Direct
transaction GPS Common Stock Tax liability -$132K -13.2K -9.63% $9.98 124K Mar 14, 2023 Direct
transaction GPS Common Stock Options Exercise $0 +12K +9.71% $0.00 136K Mar 14, 2023 Direct
transaction GPS Common Stock Tax liability -$41.5K -4.16K -3.06% $9.98 132K Mar 14, 2023 Direct
transaction GPS Common Stock Options Exercise $0 +5.28K +4.01% $0.00 137K Mar 15, 2023 Direct
transaction GPS Common Stock Tax liability -$17.8K -1.83K -1.33% $9.75 135K Mar 15, 2023 Direct
transaction GPS Common Stock Sale -$76.1K -7.87K -5.82% $9.66 127K Mar 15, 2023 Direct F1, F2
transaction GPS Common Stock Sale -$33.2K -3.46K -2.71% $9.59 124K Mar 16, 2023 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 Performance Unit Options Exercise $0 -38.2K -100% $0.00* 0 Mar 14, 2023 Common Stock 38.2K $0.00 Direct F3, F4
transaction GPS Restricted Stock Unit Options Exercise $0 -12K -5.14% $0.00 222K Mar 14, 2023 Common Stock 12K $0.00 Direct F5, F6
transaction GPS Restricted Stock Unit Options Exercise $0 -5.28K -2.38% $0.00 217K Mar 15, 2023 Common Stock 5.28K $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 The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 29, 2022 and amended on December 5, 2022.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $9.551 to $9.76, inclusive. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
F3 Each performance unit represents a contingent right to receive one share of Gap Inc. Common Stock.
F4 On March 14, 2022, the Company's Compensation and Management Development Committee certified that the reporting person earned 76,440 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.
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 48,143 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 21,132 restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date.