Katrina O'Connell - Dec 3, 2024 Form 4 Insider Report for GAP INC (GAP)

Role
Chief Financial Officer
Signature
By: Susanna Zhang, Power of Attorney For: Katrina O'Connell
Stock symbol
GAP
Transactions as of
Dec 3, 2024
Transactions value $
-$1,416,629
Form type
4
Date filed
12/4/2024, 05:27 PM
Previous filing
Jun 3, 2024
Next filing
Dec 17, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GAP Common Stock Options Exercise $335K +53.3K $6.28 53.3K Dec 3, 2024 Direct F1
transaction GAP Common Stock Options Exercise $477K +34.3K +64.27% $13.93 87.6K Dec 3, 2024 Direct F1
transaction GAP Common Stock Sale -$872K -34.3K -39.13% $25.45 53.3K Dec 3, 2024 Direct F1, F2
transaction GAP Common Stock Sale -$1.36M -53.3K -100% $25.45 0 Dec 3, 2024 Direct F1, F2

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 GAP Non-Qualified Stock Option (right to buy) Options Exercise $0 -53.3K -100% $0.00 0 Dec 3, 2024 Common Stock 53.3K $6.28 Direct F1, F3
transaction GAP Non-Qualified Stock Option (right to buy) Options Exercise $0 -34.3K -33.33% $0.00 68.5K Dec 3, 2024 Common Stock 34.3K $13.93 Direct F1, F4
* 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 The stock option exercises and sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 3, 2024.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.16 to $25.82, 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 On March 23, 2020, the reporting person was granted an option to purchase a total of 213,200 shares, vesting in four equal annual installments beginning on the first anniversary of the grant date.
F4 On March 14, 2022, the reporting person was granted an option to purchase a total of 137,029 shares, vesting in four equal annual installments beginning on the first anniversary of the grant date.