HUGHES PENELOPE L 4

4 · GAP INC · Filed May 20, 2009

Form 4

Period: 2009-05-19

Director

Transactions

Exercise/Conversion
Stock Units
2009-05-19−11,001→ 0 total
Exercise: $0.00→ Common Stock (11,001 underlying)
Exercise/Conversion
Common Stock
2009-05-19+339→ 29,768 total
Exercise/Conversion
Common Stock
2009-05-19+11,001→ 29,429 total
Award
Div. Equiv. Rghts.
2009-05-19+236→ 339 total
From: 2009-05-19→ Common Stock (236 underlying)
Exercise/Conversion
Div. Equiv. Rghts.
2009-05-19−339→ 0 total
→ Common Stock (339 underlying)
Tax Payment
Common Stock
2009-05-19$15.98/sh−1,701$27,182→ 28,067 total

Footnotes (5)

[F1]Each stock unit represents a contingent right to receive one share of Gap Inc. Common Stock. Shares are delivered to the reporting person no sooner than 3 years from the date of grant, unless further deferred, or immediately upon resignation or retirement from the Board, if earlier. The reporting person's service on the Board ended May 19, 2009.
[F2]11,001 shares were delivered on 5/19/2009.
[F3]The dividend equivalent rights accrued on stock units originally granted on June 3, 2008 and June 6, 2007 and are immediately vested. Each equivalent right is the economic equivalent of one share of Gap Inc. Common Stock. Shares are delivered to the reporting person no sooner than 3 years from the date of grant, unless further deferred, or immediately upon resignation or retirement from the Board, if earlier. The reporting person's service on the Board ended May 19, 2009.
[F4]339 shares were delivered on 5/19/2009.
[F5]Not applicable.

Documents

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