Barbeito Horacio 4

What Happened

• Horacio Barbeito, President & CEO of Old Navy (Gap Inc.), received equity awards on March 16, 2026 and concurrently had shares withheld to cover tax/exercise obligations. The filing shows a grant/award of 289,284 shares (code A) and a derivative grant of 87,544 restricted stock units (code A). Separately, 121,268 shares were disposed (code F) at $23.24 per share to satisfy payment of an exercise price or tax liability, generating $2,818,268.

Key Details

• Transaction date: March 16, 2026; Form filed March 17, 2026 (timely).
• Awards: 289,284 shares granted at $0.00 (A); 87,544 restricted stock units granted at $0.00 (A, derivative).
• Withholding/disposition: 121,268 shares disposed at $23.24 (F) for $2,818,268 to cover tax/exercise obligations.
• Footnotes: F1 — each restricted stock unit (RSU) represents a contingent right to one share. F2 — the 87,544 RSUs vest in three equal annual installments beginning on the first anniversary of the grant.
• Shares owned after the transactions are not specified in the provided excerpt.

Context

• The 121,268-share disposition was a tax/exercise withholding (code F), not an open-market sale; such withholdings are routine when equity awards settle.
• The 87,544 RSUs are time-based awards that will convert to shares as they vest (three annual installments), so they are not immediately tradable upon grant.
• This filing reflects an equity award issuance and related withholding rather than a directional buy/sell by the insider; it should be interpreted as compensation-related activity, not a market-timing sale.