SEC Form 4 · accession 0000039911-18-000028
GAP INC · GAP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeff Kirwan
Officer — President & CEO, GAP
Period of report
Mar 13, 2018
Accepted (ET)
Mar 13, 2018 · 8:01 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 13, 2018 | M | 50,000 | $23.54 | A | 50,000 | D | |
| Common StockF1 | Mar 13, 2018 | S | 50,000 | $32.56 | D | 0 | D | |
| Common StockF2 | holding | — | — | — | 675 | 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 | $23.54 | Mar 13, 2018 | M | 50,000 | D | — | Mar 13, 2027 | Common Stock | 50,000 | 150,000 | 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 $32.49 to $32.75, 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 transactions were effected.
- F2Number of shares represented by units held in the GapShare 401(k) Plan based on a plan statement dated as of December 31, 2017.
- F3On March 13, 2017, the reporting person was granted an option to purchase a total of 200,000 shares, vesting in four equal annual installments beginning on the first anniversary of the grant date.