Nancy Green - 14 Mar 2022 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
14 Mar 2022
Net transactions value
-$70,557
Form type
4
Filing time
16 Mar 2022, 18:37:37 UTC
Previous filing
21 Dec 2021
Next filing
18 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 +7,684 +6.8% $0.000000 120,561 15 Mar 2022 Direct
transaction GPS Common Stock Tax liability $55,573 -3,809 -3.2% $14.59 116,752 15 Mar 2022 Direct
transaction GPS Common Stock Options Exercise $0 +1,027 +0.88% $0.000000 117,779 15 Mar 2022 Direct
transaction GPS Common Stock Tax liability $14,984 -1,027 -0.87% $14.59 116,752 15 Mar 2022 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) Award $0 +176,180 $0.000000 176,180 14 Mar 2022 Common Stock 176,180 $13.93 Direct F2
transaction GPS Restricted Stock Unit Award $0 +61,898 +20% $0.000000 365,831 14 Mar 2022 Common Stock 61,898 $0.000000 Direct F3, F4
transaction GPS Restricted Stock Unit Options Exercise $0 -8,711 -2.4% $0.000000 357,120 15 Mar 2022 Common Stock 8,711 $0.000000 Direct F3, F5
* 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 On March 14, 2022, the reporting person was granted an option to purchase a total of 176,180 shares, vesting in four equal annual installments beginning on the first anniversary of the grant date.
F3 Each restricted stock unit represents a contingent right to receive one share of Gap Inc. Common Stock.
F4 On March 14, 2022, the reporting person was granted 61,898 restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date.
F5 On March 15, 2021, the reporting person was granted 30,737 restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date. Vesting (but not distribution) of 1,027 shares was accelerated for tax withholding upon the anniversary of the grant date due to retirement eligibility.