Mark Breitbard - Nov 17, 2023 Form 4 Insider Report for GAP INC (GPS)

Signature
By: De Anna Mekwunye, Power of Attorney For: Mark Breitbard
Stock symbol
GPS
Transactions as of
Nov 17, 2023
Transactions value $
-$549,715
Form type
4
Date filed
11/21/2023, 07:40 PM
Previous filing
Mar 24, 2023
Next filing
Dec 1, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GPS Common Stock Options Exercise $295K +46.9K +37.83% $6.28 171K Nov 17, 2023 Direct F1
transaction GPS Common Stock Sale -$844K -46.9K -27.45% $18.00 124K Nov 17, 2023 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) Options Exercise $0 -46.9K -14.29% $0.00 281K Nov 17, 2023 Common Stock 46.9K $6.28 Direct F1, F2
* 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 stock option exercise and sale reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 29, 2022 and amended on December 5, 2022.
F2 On March 23, 2020, the reporting person was granted an option to purchase a total of 375,233 shares, vesting in four equal annual installments beginning on the first anniversary of the grant date.