Initial Statement of Beneficial Ownership (3)
November 23 2021 - 6:19PM
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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0.5
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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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Laughton Mary Beth |
2. Date of Event Requiring Statement (MM/DD/YYYY)
11/14/2021
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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 & CEO, Athleta / |
(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 | 8426.0796 | 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 | 48000 | $8.34 | D | |
Non-Qualified Stock Option (right to buy) | (2) | 8/10/2030 | Common Stock | 76000 | $14.64 | D | |
Non-Qualified Stock Option (right to buy) | (3) | 10/28/2029 | Common Stock | 175000 | $17.2 | D | |
Non-Qualified Stock Option (right to buy) | (4) | 3/15/2031 | Common Stock | 45250 | $32.25 | D | |
Restricted Stock Unit (5) | (6) | (7) | Common Stock | 199196 | $0.0 | D | |
Explanation of Responses: |
(1) | The option represents a right to purchase a total of 48,000 shares exercisable in four equal annual installments beginning on March 16, 2021, which was the first anniversary of the date on which the option was granted. |
(2) | The option represents a right to purchase a total of 76,000 shares exercisable in four equal annual installments beginning on August 10, 2021, which was the first anniversary of the date on which the option was granted. |
(3) | The option represents a right to purchase a total of 175,000 shares exercisable in four equal annual installments beginning on October 28, 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 45,250 shares exercisable in four equal annual installments beginning on March 15, 2022, which is the first anniversary of the date on which the option was granted. |
(5) | Each restricted stock unit represents a contingent right to receive one share of Gap Inc. Common Stock. |
(6) | Represents five grants of Restricted Stock Units (RSUs). The RSU grants vest as follows: 3,842 shares vest on March 15, 2022; 29,116 shares vest on March 16, 2022; 12,667 shares vest on August 10, 2022; 21,875 shares vest on October 28, 2022; 32,097 shares vest on March 15, 2023; 29,117 shares vest on March 16, 2023; 12,667 shares vest on August 10, 2023; 21,875 shares vest on October 28, 2023; 32,098 shares vest on March 15, 2024; and 3,842 shares vest on March 15, 2025. |
(7) | Not applicable. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Laughton Mary Beth TWO FOLSOM ST SAN FRANCISCO, CA 94105-1205 |
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| President & CEO, Athleta |
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Signatures
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By: JoAnne Zinman, Power of Attorney For: Mary Beth Laughton | | 11/23/2021 |
**Signature of Reporting Person | Date |
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