Nancy Green - Mar 14, 2022 Form 4 Insider Report for GAP INC (GPS)

Role
President & CEO, Old Navy
Signature
By: JoAnne Zinman, Power of Attorney For: Nancy Green
Stock symbol
GPS
Transactions as of
Mar 14, 2022
Transactions value $
-$70,557
Form type
4
Date filed
3/16/2022, 06:37 PM
Previous filing
Dec 21, 2021
Next filing
Mar 18, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GPS Common Stock Options Exercise $0 +7.68K +6.81% $0.00 121K Mar 15, 2022 Direct
transaction GPS Common Stock Tax liability -$55.6K -3.81K -3.16% $14.59 117K Mar 15, 2022 Direct
transaction GPS Common Stock Options Exercise $0 +1.03K +0.88% $0.00 118K Mar 15, 2022 Direct
transaction GPS Common Stock Tax liability -$15K -1.03K -0.87% $14.59 117K Mar 15, 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 +176K $0.00 176K Mar 14, 2022 Common Stock 176K $13.93 Direct F2
transaction GPS Restricted Stock Unit Award $0 +61.9K +20.37% $0.00 366K Mar 14, 2022 Common Stock 61.9K $0.00 Direct F3, F4
transaction GPS Restricted Stock Unit Options Exercise $0 -8.71K -2.38% $0.00 357K Mar 15, 2022 Common Stock 8.71K $0.00 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.