Katrina O'Connell - 27 Nov 2023 Form 4 Insider Report for GAP INC (GPS)

Role
EVP CFO
Signature
By: De Anna Mekwunye, Power of Attorney For: Katrina O'Connell
Issuer symbol
GPS
Transactions as of
27 Nov 2023
Net transactions value
-$1,520,043
Form type
4
Filing time
29 Nov 2023, 19:21:54 UTC
Previous filing
30 Aug 2023
Next filing
15 Mar 2024
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 $669,448 +106,600 $6.28 106,600 27 Nov 2023 Direct F1
transaction GPS Common Stock Sale $2,018,151 -106,600 -100% $18.93 0 27 Nov 2023 Direct F1, F2
transaction GPS Common Stock Options Exercise $477,200 +34,257 $13.93 34,257 27 Nov 2023 Direct F1
transaction GPS Common Stock Sale $648,540 -34,257 -100% $18.93 0 27 Nov 2023 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 GPS Non-Qualified Stock Option (right to buy) Options Exercise $0 -106,600 -67% $0.000000 53,300 27 Nov 2023 Common Stock 106,600 $6.28 Direct F1, F3
transaction GPS Non-Qualified Stock Option (right to buy) Options Exercise $0 -34,257 -25% $0.000000 102,772 27 Nov 2023 Common Stock 34,257 $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 sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 28, 2023.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.74 to $19.07, 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.