Nancy Green - 18 Dec 2021 Form 4 Insider Report for GAP INC (GAP)

Role
President & CEO, Old Navy
Signature
By: JoAnne Zinman, Power of Attorney For: Nancy Green
Issuer symbol
GAP
Transactions as of
18 Dec 2021
Net transactions value
-$191,731
Form type
4
Filing time
21 Dec 2021, 15:40:11 UTC
Previous filing
02 Nov 2021
Next filing
16 Mar 2022
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 +11,399 +10% $0.000000 124,276 18 Dec 2021 Direct
transaction GPS Common Stock Tax liability $191,731 -11,399 -9.2% $16.82 112,877 18 Dec 2021 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 Restricted Stock Unit Options Exercise $0 -11,399 -3.6% $0.000000 303,933 18 Dec 2021 Common Stock 11,399 $0.000000 Direct F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Mandatory tax withholding on vesting of restricted stock units due to retirement eligibility.
F2 Each restricted stock unit represents a contingent right to receive one share of Gap Inc. Common Stock.
F3 The restricted stock units for which the reporting person is retirement eligible vest 26,206 shares on March 18, 2022, 97,289 shares on each of March 16, 2022 and March 16, 2023, 20,000 shares on July 15, 2022 and 5,043 shares on each of October 8, 2022, October 8, 2023 and October 8, 2024. Vesting (but not distribution) is accelerated on retirement eligibility, subject to the RSUs being held for at least one year following the grant date.
F4 Not applicable.