GAP INC 4
4 · GAP INC · Filed Mar 17, 2015
Insider Transaction Report
Form 4
GAP INCGPS
BANKS MICHELLE
SVP, General Counsel
Transactions
- Award
Common Stock
2015-03-16+18,573→ 111,797.645 total - Tax Payment
Common Stock
2015-03-17$41.28/sh−8,276$341,633→ 111,387.645 total - Award
Non-Qualified Stock Option (right to buy)
2015-03-16+30,000→ 30,000 totalExercise: $41.27Exp: 2025-03-16→ Common Stock (30,000 underlying) - Exercise/Conversion
Performance Shares
2015-03-17−15,863→ 18,574 totalExercise: $0.00→ Common Stock (15,863 underlying) - Exercise/Conversion
Common Stock
2015-03-17+15,863→ 119,663.645 total - Tax Payment
Common Stock
2015-03-16$41.27/sh−7,997$330,036→ 103,800.645 total - Award
Performance Shares
2015-03-16+18,574→ 34,437 totalExercise: $0.00→ Common Stock (18,574 underlying)
Footnotes (4)
- [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).