Earnings Feed
Start Free
GAP INC·4

Mar 19, 9:33 PM ET

Breitbard Mark 4

Research Summary

AI-generated summary

Updated

GAP CEO Mark Breitbard Sells Shares After Exercising RSUs

What Happened Mark Breitbard, President & CEO of Gap Brand, had 17,275 restricted stock units convert into common shares on March 18, 2026 (exercise/conversion of a derivative). To satisfy tax withholding, 8,789 of those shares were disposed at a reported price of $23.85 for a value of $209,618. The remaining 8,486 shares were sold in an open-market transaction on March 19, 2026 at a weighted average price of $23.73 for proceeds of $201,404. Total value of shares disposed was about $411,022. These transactions are sales/withholdings (routine monetization of vested awards), not purchases.

Key Details

  • Transaction dates: conversion/exercise on 2026-03-18; open-market sale on 2026-03-19.
  • Prices and values:
    • 17,275 RSUs converted to shares @ $0.00 (acquired) — conversion of vested RSUs.
    • 8,789 shares withheld for taxes (F) @ $23.85 = $209,618.
    • 8,486 shares sold (S) @ weighted avg $23.73 = $201,404 (sales executed at prices ranging $23.47–$24.03).
  • Total disposed: 17,275 shares (8,789 withheld + 8,486 sold) with combined value ≈ $411,022.
  • Footnotes of note:
    • Sale was executed under a Rule 10b5-1 trading plan adopted June 13, 2025 (F1).
    • Reported sale price is a weighted average; per-footnote range $23.47–$24.03 (F2).
    • Each restricted stock unit equals one share (F3); the RSUs were part of a 69,101 RSU grant on March 18, 2024 vesting in four equal annual installments (F4) — this appears to be one vested tranche (~17,275 shares).
  • Shares owned after the transaction are not specified in this Form 4.
  • Filing: Form 4 filed 2026-03-19 for transactions on 2026-03-18/19 (filing date appears timely).

Context

  • This was a conversion of vested RSUs with a typical "sell to cover" tax withholding and an additional open-market sale. That pattern is common when executives monetize vested awards and does not by itself indicate a change in company outlook.
  • The open-market sale was made under a pre-established 10b5-1 plan, which schedules trades according to a plan adopted previously and can help avoid claims of trading on inside information.