Breitbard Mark 4
4 · GAP INC · Filed Mar 13, 2026
Research Summary
AI-generated summary of this filing
GAP CEO Mark Breitbard Converts RSUs, Withholds 8,970 Shares for Taxes
What Happened
Mark Breitbard, President & CEO of the Gap brand at Gap Inc. (GAP), converted 25,000 restricted stock units (RSUs) into common shares on March 13, 2026. To satisfy tax withholding on the vesting/conversion, 8,970 shares were surrendered at a per-share value of $23.13, totaling $207,476. The filing shows conversion (derivative exercise) activity and the tax-withholding disposition; this is a routine vesting/conversion event rather than an open-market purchase.
Key Details
- Transaction date: 2026-03-13.
- Conversion: 25,000 RSUs converted into 25,000 shares (reported as exercise/conversion of derivative, code M).
- Tax withholding: 8,970 shares disposed to cover tax liability (code F) at $23.13 per share, total $207,476.
- Footnotes: F1 — each RSU represents a contingent right to one share; F2 — these RSUs were part of a 100,000 RSU grant on March 13, 2023 that vests in four equal annual installments.
- Shares owned after the transaction: not specified in the provided filing excerpt.
- Filing timeliness: no late filing flag indicated in the provided data.
Context
This was a conversion/vesting event with shares withheld for taxes (common "sell-to-cover" or withholding), not an open-market sale or a cash purchase. For retail investors, such withholding is standard administrative handling of RSU vesting and doesn't, by itself, indicate the insider's view on the company's stock.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-03-13+25,000→ 148,985 total - Tax Payment
Common Stock
2026-03-13$23.13/sh−8,970$207,476→ 140,015 total - Exercise/Conversion
Restricted Stock Unit
[F1][F2]2026-03-13−25,000→ 161,536 totalExercise: $0.00→ Common Stock (25,000 underlying)
Footnotes (2)
- [F1]Each restricted stock unit represents a contingent right to receive one share of Gap Inc. Common Stock.
- [F2]On March 13, 2023, the reporting person was granted 100,000 restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date.