Breitbard Mark 4

What Happened Mark Breitbard, President & CEO of the Gap brand at GAP Inc. (GAP), was granted two awards of restricted stock units (RSUs) on March 16, 2026 — 225,000 RSUs and 107,441 RSUs (derivative). On the same date he had 113,563 shares disposed at $23.24 per share to cover exercise price/tax liability, generating proceeds of $2,639,204. The RSU awards are reported as acquisitions at $0 in the filing because they are contingent awards, not open-market purchases.

Key Details

• Transaction date: March 16, 2026; Form 4 filed March 17, 2026 (timely).
• Disposition: 113,563 shares disposed (code F) at $23.24 — total $2,639,204 (tax/withholding).
• Acquisitions: 225,000 RSUs (code A) and 107,441 RSUs (derivative, code A) reported as acquired at $0.
• Footnotes: F1 — each RSU equals a contingent right to one share of Common Stock; F2 — the 107,441 RSUs vest in three equal annual installments beginning March 16, 2027.
• Shares owned after the transactions are not specified in the summary data provided.

Context

• The 113,563-share disposition is coded F (payment of exercise price or tax liability), which is a routine withholding/sale to cover taxes on equity awards and does not necessarily indicate a personal decision to reduce exposure.
• RSU grants are awards that generally vest over time; they are not purchases and do not reflect immediate cash outlay by the insider.
• No evidence in the filing indicates a 10b5-1 plan, gift, or late filing — this appears to be a standard grant with tax withholding reported promptly.