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GAP INC — Director's Dealing 2015
Mar 18, 2015
30743_dirs_2015-03-17_fd903872-83fd-483d-8849-a5f3fdeb85f6.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: 2015-03-16
Reporting Person: BANKS MICHELLE (EVP & General Counsel)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2015-03-16 | Common Stock | A | 18573.0 | $0.0 | Acquired | 111797.6447 | Direct |
| 2015-03-16 | Common Stock | F | 7997.0 | $41.27 | Disposed | 103800.6447 | Direct |
| 2015-03-17 | Common Stock | M | 15863.0 | $0.0 | Acquired | 119663.6447 | Direct |
| 2015-03-17 | Common Stock | F | 8276.0 | $41.28 | Disposed | 111387.6447 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2015-03-16 | Non-Qualified Stock Option (right to buy) | $41.27 | A | 30000.0 | Acquired | 2025-03-16 | Common Stock (30000) | Direct |
| 2015-03-16 | Performance Shares | $0.0 | A | 18574.0 | Acquired | Common Stock (18574) | Direct | |
| 2015-03-17 | Performance Shares | $0.0 | M | 15863.0 | Disposed | Common Stock (15863) | Direct |
Footnotes
F1: On March 16, 2015, the Company's Compensation and Management Development Committee certified that the reporting person earned 37,147 Performance Shares following completion of a three-year (2012-2014) 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).
F2: Each Performance Share represents a contingent right to receive one share of Gap Inc. Common Stock.
F3: On March 16, 2015, the reporting person was granted an option to purchase a total of 30,000 shares, vesting in four equal annual installments beginning on the first anniversary of the grant date.
F4: On March 17, 2014, the Company's Compensation and Management Development Committee certified that the reporting person earned 31,726 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).