GAP 10% Owner John J. Fisher Distributes 4.00M Shares

What Happened

• John J. Fisher, reported as a 10% owner of GAP Inc. (GAP), had a pro rata distribution on 2026-09-02 in which 4,003,636 shares were disposed of for no consideration (price $0.00, total value $0). The filing also shows an acquisition of 3,636 shares for no consideration (price $0.00, total value $0). The filing footnote states this represents a pro rata distribution for no consideration — i.e., shares were distributed rather than sold on the open market.

Key Details

• Transaction date: 2026-09-02; Filing date: 2026-09-04 (timely).
• Reported prices/values: $0.00 per share; total value reported $0 for each line.
• Transaction codes: "J" (other acquisition or disposition) with footnote F1: "Represents a pro rata distribution for no consideration."
• Shares owned after transaction: Not specified in the provided summary of the filing.
• Reporting person: John J. Fisher (10% owner). Accession: 0001079847-26-000012.

Context

• A pro rata distribution for no consideration is not a market sale — it typically reflects a distribution of shares to stakeholders or related internal allocations and does not by itself signal a cash-driven sale or purchase by the insider.
• As a 10% owner (an affiliate), this transaction is institutional in nature; such distributions can be administrative or structural and should not be read as a straightforward bullish or bearish trade by management.