Gilligan Sarah 4

What Happened

• Sarah Gilligan, GAP’s Chief Supply Chain & Transformation Officer, had 3,439 restricted stock units (RSUs) convert into common shares on March 14, 2026 (reported on Form 4). The conversion shows acquisition of 3,439 shares at $0.00 (RSU settlement). To satisfy tax withholding, 1,233 of those shares were withheld/disposed at $23.24 each, totaling $28,655. Net shares issued to her were 2,206 (3,439 converted minus 1,233 withheld). This is a routine RSU vest/settlement rather than an open‑market purchase or sale.

Key Details

• Transaction date: 2026-03-14; Form 4 filed: 2026-03-16 (timely filing).
• Conversion: 3,439 shares acquired via derivative conversion (code M) at $0.00.
• Tax withholding: 1,233 shares withheld/disposed (code F) at $23.24 each = $28,655.
• Net shares delivered to insider: 2,206.
• Footnote: Each RSU represents a contingent right to one share. The RSUs relate to a March 14, 2022 grant of 13,755 RSUs vesting in four equal annual installments (so this appears to be one installment).
• Shares owned after transaction: not specified in the provided excerpt of the filing.

Context

• This was an RSU vest/settlement with company withholding to cover tax obligations (common and not necessarily a directional market signal). The filing shows conversion/settlement (M) and tax withholding (F); no open‑market sale or purchase was reported.