Gilligan Sarah 4

What Happened

• Sarah Gilligan, Gap Inc.'s Chief Supply Chain & Transformation Officer, had 10,714 restricted stock units (RSUs) convert into 10,714 shares on March 13, 2026. The conversion is reported as an exercise/conversion of a derivative (code M) with $0.00 per-share acquisition cost.
• To cover tax withholding, 3,902 shares were surrendered (code F) at $23.13 per share, totaling $90,253. After withholding, the net shares delivered to Gilligan were 6,812 (10,714 acquired − 3,902 withheld).
• The Form 4 shows the conversion and the tax-withholding share disposition; this is routine vesting and tax withholding rather than an open-market sale or purchase.

Key Details

• Transaction date: March 13, 2026.
• Conversion: 10,714 RSUs → 10,714 common shares (code M) at $0.00 (no cash paid).
• Tax withholding: 3,902 shares withheld/disposed (code F) at $23.13 each = $90,253.
• Net shares received: 6,812 shares.
• Shares owned after the transaction: not specified in the filing.
• Footnotes: F1 clarifies each RSU equals one contingent share; F2 notes these RSUs come from a 3/13/2023 grant of 42,857 RSUs vesting in four equal annual installments (10,714 each).
• Timeliness: Filing date and report period are March 13, 2026 — appears to be timely (not noted as late).

Context

• This is a standard RSU vesting event with share withholding to satisfy tax obligations (often called a cashless/stock-withholding settlement). It does not indicate an open-market sale or new purchase decision by the insider.
• Transaction codes: M = exercise/conversion of a derivative (RSU conversion), F = payment of tax liability via share withholding.