SEC Form 4 · accession 0000039911-16-000275
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 18, 2016
Accepted (ET)
Mar 21, 2016 · 7:43 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 | Mar 18, 2016 | M | 23,830 | $0.00 | A | 174,738 | D | |
| Common Stock | Mar 18, 2016 | F | 11,670 | $30.39 | D | 163,068 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitF1,F2 | $0.00 | Mar 18, 2016 | M | 23,830 | D | — | — | Common Stock | 23,830 | 0 | D |
Explanation of responses
- F1Each restricted stock unit represents a contingent right to receive one share of Gap Inc. Common Stock.
- F2On March 18, 2013 the reporting person was granted 50,000 restricted stock units, vesting in two equal annual installments beginning on the second anniversary of the grant date. 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.