SEC Form 4 · accession 0000039911-17-000042
GAP INC · GAP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Arthur L Peck
Officer — President & CEO, Gap Inc. · Director
Period of report
Mar 13, 2017
Accepted (ET)
Mar 15, 2017 · 5:04 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 13, 2017 | M | 6,100 | $0.00 | A | 170,166 | D | |
| Common Stock | Mar 13, 2017 | F | 2,435 | $23.54 | D | 167,731 | D | |
| Common StockF1 | Mar 14, 2017 | M | 7,080 | $0.00 | A | 174,811 | D | |
| Common Stock | Mar 14, 2017 | F | 2,493 | $23.70 | D | 172,318 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Qualified Stock Option (right to buy)F2 | $23.54 | Mar 13, 2017 | A | 600,000 | A | — | Mar 13, 2027 | Common Stock | 600,000 | 600,000 | D |
| Performance SharesF1,F3 | $0.00 | Mar 13, 2017 | A | 6,101 | A | — | — | Common Stock | 6,101 | 13,181 | D |
| Performance SharesF1,F4 | $0.00 | Mar 14, 2017 | M | 7,080 | D | — | — | Common Stock | 7,080 | 6,101 | D |
Explanation of responses
- F1Each Performance Share represents a contingent right to receive one share of Gap Inc. Common Stock.
- F2On March 13, 2017, the reporting person was granted an option to purchase a total of 600,000 shares, vesting in four equal annual installments beginning on the first anniversary of the grant date.
- F3On March 13, 2017 the Company's Compensation and Management Development Committee certified that the reporting person earned 12,201 Performance Shares following completion of a three-year (2014-2016) 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.
- F4On March 14, 2016 the Company's Compensation and Management Development Committee certified that the reporting person earned 14,159 Performance Shares following completion of a three-year (2013-2015) 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.