Initial Statement of Beneficial Ownership (3)
October 09 2020 - 6:39PM
Edgar (US Regulatory)
FORM 3
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0104
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
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Green Nancy |
2. Date of Event Requiring Statement (MM/DD/YYYY)
10/8/2020
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3. Issuer Name and Ticker or Trading Symbol
GAP INC [GPS]
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(Last)
(First)
(Middle)
TWO FOLSOM ST |
4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
_____ Director _____ 10% Owner ___X___ Officer (give title below) _____ Other (specify below) President and CEO, Old Navy / |
(Street)
SAN FRANCISCO, CA 94105-1205
(City)
(State)
(Zip)
| 5. If Amendment, Date Original Filed(MM/DD/YYYY)
| 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Beneficially Owned
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1.Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Common Stock | 88093 | D | |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 4) | 2. Date Exercisable and Expiration Date (MM/DD/YYYY) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) |
Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Non-Qualified Stock Option (right to buy) | (1) | 3/16/2030 | Common Stock | 60000 | $8.34 | D | |
Non-Qualified Stock Option (right to buy) | (2) | 3/13/2027 | Common Stock | 37500 | $23.54 | D | |
Non-Qualified Stock Option (right to buy) | (3) | 3/18/2029 | Common Stock | 110000 | $25.56 | D | |
Non-Qualified Stock Option (right to buy) | (4) | 3/14/2026 | Common Stock | 70000 | $30.18 | D | |
Non-Qualified Stock Option (right to buy) | (5) | 3/19/2028 | Common Stock | 110000 | $32.23 | D | |
Non-Qualified Stock Option (right to buy) | (6) | 3/18/2023 | Common Stock | 20000 | $36.45 | D | |
Non-Qualified Stock Option (right to buy) | (7) | 3/16/2025 | Common Stock | 20000 | $41.27 | D | |
Non-Qualified Stock Option (right to buy) | (8) | 3/17/2024 | Common Stock | 10000 | $42.2 | D | |
Restricted Stock Unit (9) | (10) | (11) | Common Stock | 325722 | $0.0 | D | |
Explanation of Responses: |
(1) | The option represents a right to purchase a total of 60,000 shares exercisable in four equal annual installments beginning on March 16, 2021, which is the first anniversary of the date on which the option was granted. |
(2) | The option represents a right to purchase a total of 37,500 shares: 12,500 became exercisable on March 13, 2019; 12,500 became exercisable on March 13, 2020; and 12,500 will become exercisable on March 13, 2021. |
(3) | The option represents a right to purchase a total of 110,000 shares exercisable in four equal annual installments beginning on March 18, 2020, which was the first anniversary of the date on which the option was granted. |
(4) | The option represents a right to purchase a total of 40,000 shares which became fully exercisable as of March 14, 2020. |
(5) | The option represents a right to purchase a total of 110,000 shares exercisable in four equal annual installments beginning on March 19, 2019, which was the first anniversary of the date on which the option was granted. |
(6) | The option represents a right to purchase a total of 20,000 shares which became fully exercisable as of March 18, 2017. |
(7) | The option represents a right to purchase a total of 20,000 shares which became fully exercisable as of March 16, 2019. |
(8) | The option represents a right to purchase a total of 10,000 shares which became fully exercisable as of March 17, 2018. |
(9) | Each restricted stock unit represents a contingent right to receive one share of Gap Inc. Common Stock. |
(10) | Represents five grants of Restricted Stock Units (RSUs). The RSU grants vest as follows: 36,233 shares vest on March 19, 2021; 2,500 shares vest on August 15, 2021; 26,205 shares vest on March 18, 2021 and 26,206 shares vest on March 18, 2022; 20,000 shares vest on July 15, 2021 and 20,000 shares vest on July 15, 2022; and 97,289 shares vest on March 16, 2022 and 97,289 shares vest on March 16, 2023. |
(11) | Not applicable. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Green Nancy TWO FOLSOM ST SAN FRANCISCO, CA 94105-1205 |
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| President and CEO, Old Navy |
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Signatures
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By: Nathan Francis, Power of Attorney For: Nancy Green | | 10/9/2020 |
**Signature of Reporting Person | Date |
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