Jorge Montoya - May 10, 2022 Form 4 Insider Report for GAP INC (GPS)

Role
Director
Signature
By: JoAnne Zinman, Power of Attorney For: Jorge Montoya
Stock symbol
GPS
Transactions as of
May 10, 2022
Transactions value $
-$33,611
Form type
4
Date filed
5/12/2022, 03:04 PM
Previous filing
Jul 2, 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GPS Common Stock Award $0 +28.5K +56.21% $0.00 79.1K May 10, 2022 Direct
transaction GPS Common Stock Tax liability -$33.6K -2.82K -3.56% $11.94 76.3K May 10, 2022 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 Dividend Equivalent Rights Award $0 +1.17K +173.25% $0.00 1.84K May 10, 2022 Common Stock 1.17K $0.00 Direct F1, F2, F3
transaction GPS Dividend Equivalent Rights Options Exercise $0 -1.84K -100% $0.00* 0 May 10, 2022 Common Stock 1.84K $0.00 Direct F1, F3, F4
transaction GPS Stock Units Options Exercise $0 -26.6K -100% $0.00* 0 May 10, 2022 Common Stock 26.6K $0.00 Direct F3, F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Jorge Montoya is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Each dividend equivalent right is the economic equivalent of one share of Gap Inc. common stock.
F2 The dividend equivalent rights accrued on stock units originally granted on June 30, 2019, June 30, 2020, and June 30, 2021, are immediately vested. Vested shares are delivered to the reporting person no sooner than 3 years from the date of grant unless further deferred, or immediately upon cessation of service as a member of the Board, if earlier. The reporting person's service on the Board ended on May 10, 2022.
F3 Not applicable.
F4 These shares were issued in settlement of dividend equivalent rights accrued on stock units granted on June 30, 2019, June 30, 2020, and June 30, 2021.
F5 Each stock unit represents a contingent right to receive one share of Gap Inc. common stock.
F6 These shares were issued in settlement of stock units granted on June 30, 2019, June 30, 2020, and June 30, 2021.