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GAP INC — Director's Dealing 2015
Mar 20, 2015
30743_dirs_2015-03-19_f4de8ed6-7c7f-4c9a-93bd-c8bd1efc25a2.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: GAP INC (GPS)
CIK: 0000039911
Period of Report: 2015-03-17
Reporting Person: SIMMONS SABRINA (EVP & CFO)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2015-03-17 | Common Stock | M | 25864.0 | $0.0 | Acquired | 39972 | Direct |
| 2015-03-17 | Common Stock | F | 13495.0 | $41.28 | Disposed | 26477 | Direct |
| 2015-03-17 | Common Stock | S | 14108.0 | $41.1391 | Disposed | 12369 | Direct |
| 2015-03-18 | Common Stock | S | 12369.0 | $41.4352 | Disposed | 0 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2015-03-17 | Performance Shares | $0.0 | M | 25864.0 | Disposed | Common Stock (25864) | Direct |
Footnotes
F1: Each Performance Share represents a contingent right to receive one share of Gap Inc. Common Stock.
F2: The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 8, 2014.
F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $40.98 to $41.34, 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.
F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $41.03 to $41.61, 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.
F5: On March 17, 2014, the Company's Compensation and Management Development Committee certified that the reporting person earned 51,728 Performance Shares following completion of a three-year (2011-2013) 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 (subject to the reporting person's continued service with the Company).