SEC Form 4 · accession 0000039911-16-000384
GAP INC · GAP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeff Kirwan
Officer — President
Period of report
Nov 21, 2016
Accepted (ET)
Nov 23, 2016 · 5:58 pm EST
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 | Nov 21, 2016 | M | 3,750 | $21.79 | A | 19,094 | D | |
| Common Stock | Nov 21, 2016 | S | 3,750 | $25.3308 | D | 15,344 | D | |
| Common StockF1 | Nov 21, 2016 | S | 7,656 | $25.404 | D | 7,688 | D | |
| Common StockF2 | holding | — | — | — | 1,075 | I | By 401(k) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Qualified Stock Option (right to buy)F3 | $21.79 | Nov 21, 2016 | M | 3,750 | D | — | Mar 14, 2021 | Common Stock | 3,750 | 0 | D |
Explanation of responses
- F1The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from 25.3339 to 25.4301, inclusive. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F2Number of shares represented by units held in the GapShare 401(k) Plan based on a plan statement dated as of September 30, 2016.
- F3On March 14, 2011, the reporting person was granted an option to purchase a total of 15,000 shares, vesting in four equal annual installments beginning on the first anniversary of the grant date.