Breitbard Mark 4

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.