GAP INC — Director's Dealing 2007

Mar 31, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GAP INC (GPS)
CIK: 0000039911
Period of Report: 2007-03-29

Reporting Person: SAGE GAVIN EVA (EVP, Human Resources)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-03-29	Notional Gap Stock	$	A	124.617	Acquired		Common Stock (124.617)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1724	Direct

Footnotes

F1: Notional Gap Stock is acquired through participation in the Supplemental Deferred Compensation Plan.

F2: Each share of Notional Gap Stock is the economic equivalent of one share of Gap Inc. common stock. The shares become payable in cash, pursuant to the election of the reporting person at the time of enrollment in the Plan or in certain circumstances following termination.