Sheila Peters - Mar 23, 2023 Form 4 Insider Report for GAP INC (GPS)

Role: EVP & Chief People Officer
Signature: By: JoAnne Zinman, Power of Attorney For: Sheila Peters
Stock symbol: GPS
Transactions as of: Mar 23, 2023
Transactions value $: -$22,683
Form type: 4
Date filed: 3/27/2023, 06:19 PM
Previous filing: Mar 16, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	Price $	Shares After	Date	Ownership	Footnotes
transaction	GPS	Common Stock	+Options Exercise	$0	+7,962	+31.79%	$0.00	33,010	Mar 23, 2023	Direct
transaction	GPS	Common Stock	-Tax liability	-$22,683	-2,566	-7.77%	$8.84	30,444	Mar 23, 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	Restricted Stock Unit	-Options Exercise	$0	-7,962	-9.33%	$0.00	77,413	Mar 23, 2023	Common Stock	7,962	$0.00	Direct	F1, F2

Explanation of Responses:

Id	Content
F1	Each restricted stock unit represents a contingent right to receive one share of Gap Inc. Common Stock.
F2	On March 23, 2020, the reporting person was granted 31,847 restricted stock units, vesting 7,961 shares on the first anniversary of the grant date and 7,962 shares on the second, third and fourth anniversary of the grant date. Vesting (but not distribution) is accelerated on retirement eligibility, subject to the restricted stock units being held for one year following the grant date. 816 shares were previously withheld for mandatory tax withholding on these restricted stock units due to retirement eligibility (Form 4 filed 03/25/2021).

Content

Each restricted stock unit represents a contingent right to receive one share of Gap Inc. Common Stock.

On March 23, 2020, the reporting person was granted 31,847 restricted stock units, vesting 7,961 shares on the first anniversary of the grant date and 7,962 shares on the second, third and fourth anniversary of the grant date. Vesting (but not distribution) is accelerated on retirement eligibility, subject to the restricted stock units being held for one year following the grant date. 816 shares were previously withheld for mandatory tax withholding on these restricted stock units due to retirement eligibility (Form 4 filed 03/25/2021).