Katrina O'Connell - 15 Mar 2024 Form 4 Insider Report for GAP INC (GPS)

Role
Chief Financial Officer
Signature
By: De Anna Mekwunye, Power of Attorney For: Katrina O'Connell
Issuer symbol
GPS
Transactions as of
15 Mar 2024
Net transactions value
-$202,749
Form type
4
Filing time
18 Mar 2024, 19:50:09 UTC
Previous filing
15 Mar 2024
Next filing
20 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 Sale $136,745 -5,937 -100% $23.03 0 15 Mar 2024 Direct F1, F2
transaction GPS Common Stock Options Exercise $0 +4,803 $0.000000 4,803 15 Mar 2024 Direct
transaction GPS Common Stock Tax liability $57,418 -2,434 -51% $23.59 2,369 15 Mar 2024 Direct
transaction GPS Common Stock Options Exercise $0 +719 +30% $0.000000 3,088 15 Mar 2024 Direct
transaction GPS Common Stock Tax liability $8,587 -364 -12% $23.59 2,724 15 Mar 2024 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 -4,803 -2.6% $0.000000 178,070 15 Mar 2024 Common Stock 4,803 $0.000000 Direct F3, F4
transaction GPS Restricted Stock Unit Options Exercise $0 -719 -0.4% $0.000000 177,351 15 Mar 2024 Common Stock 719 $0.000000 Direct F3, F5
* 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 $22.90 to $23.17, 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 Each restricted stock unit represents a contingent right to receive one share of Gap Inc. Common Stock.
F4 On March 15, 2021, the reporting person was granted 19,211 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 1,437 restricted stock units, vesting 718 shares on the second anniversary of the grant date and 719 shares on the third anniversary of the grant date.