GAP INC — Director's Dealing 2009

Aug 28, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GAP INC (GPS)
CIK: 0000039911
Period of Report: 2009-08-26

Reporting Person: HANSEN MARKA (President, Gap Brand)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-08-26	Common Stock	M	17000	$12.87	Acquired	39574.68	Direct
2009-08-26	Common Stock	S	17000	$19.876	Disposed	22574.68	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-08-26	Stock Option (Right to buy)	$12.87	M	17000	Disposed	2013-03-07	Common Stock (17000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	43921	Indirect
Common Stock	3549.37	Indirect
Common Stock	3350	Indirect

Footnotes

F1: These options are fully vested and exercisable.