SEC Form 4 · accession 0000039911-16-000258
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, 2016
Accepted (ET)
Mar 18, 2016 · 9:16 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 Stock | Mar 16, 2016 | F | 8,949 | $29.28 | D | 125,502 | D | |
| Common StockF1 | Mar 16, 2016 | M | 25,406 | $0.00 | A | 150,908 | D | |
| Common Stock | holding | — | — | — | 37,150 | I | by Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance SharesF1,F2 | $0.00 | Mar 16, 2016 | M | 25,406 | D | — | — | Common Stock | 25,406 | 7,080 | D |
Explanation of responses
- F1Each Performance Share represents a contingent right to receive one share of Gap Inc. Common Stock.
- F2On 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.) Certain shares were withheld for payment of employment tax liability arising as a result of the reporting person reaching retirement eligibility. For details on the tax withholding, please see the Form 4 filed on behalf of the reporting person on November 17, 2015.