SEC Form 4 · accession 0000039911-15-000080
GAP INC · GAP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Arthur L Peck
Officer — CEO · Director
Period of report
Mar 16, 2015
Accepted (ET)
Mar 17, 2015 · 9:20 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000039911
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Mar 16, 2015 | A | 26,652 | $0.00 | A | 119,878 | D | |
| Common Stock | Mar 16, 2015 | F | 13,905 | $41.27 | D | 105,973 | D | |
| Common StockF2 | Mar 17, 2015 | M | 23,693 | $0.00 | A | 129,666 | D | |
| Common Stock | Mar 17, 2015 | F | 12,361 | $41.28 | D | 117,305 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance SharesF2,F1 | $0.00 | Mar 16, 2015 | A | 26,653 | A | — | — | Common Stock | 26,653 | 50,346 | D |
| Performance SharesF2,F3 | $0.00 | Mar 17, 2015 | M | 23,693 | D | — | — | Common Stock | 23,693 | 26,653 | D |
Explanation of responses
- F1On March 16, 2015, the Company's Compensation and Management Development Committee certified that the reporting person earned 53,305 Performance Shares following completion of a three-year (2012-2014) performance cycle under the Company's Long-Term Growth Program, with half of the award vesting on the certification date and the remainder vesting on the anniversary of such date (subject to the reporting person's continued service with the Company).
- F2Each Performance Share represents a contingent right to receive one share of Gap Inc. Common Stock.
- F3On March 17, 2014, the Company's Compensation and Management Development Committee certified that the reporting person earned 47,385 Performance Shares following completion of a three-year (2011-2013) performance cycle under the Company's Long-Term Growth Program, with half of the award vesting on the certification date and the remainder vesting on the anniversary of such date (subject to the reporting person's continued service with the Company).