Gap Inc (GAP) supply chain chief sells 69,912 shares under Rule 10b5-1 plan

Rhea-AI Filing Summary

Gap Inc.'s Chief Supply Chain & Transformation Officer, Sarah Gilligan, sold 69,912 shares of common stock in an open-market transaction. The sale occurred on March 23, 2026 at a reported price of $25.00 per share and reduced her directly held position in this account to zero. The transaction was carried out under a pre-arranged Rule 10b5-1 trading plan that she adopted on June 6, 2025, indicating the sale was scheduled in advance rather than timed opportunistically.

Insights

Equity compensation and insider-trading analyst

Gap executive sold 69,912 shares under a pre-set 10b5-1 plan, a structured and pre-planned disposition.

Chief Supply Chain & Transformation Officer Sarah Gilligan executed an open-market sale of 69,912 shares of Gap Inc. common stock at $25.00 per share on March 23, 2026. This transaction brought her directly reported holdings in this account to zero shares.

The filing states the sale was made pursuant to a Rule 10b5-1 trading plan adopted on June 6, 2025. Such plans are typically established in advance to sell shares according to preset instructions, which reduces the informational value of the sale’s timing. No remaining derivative positions are shown in the derivative summary for this filing.

From an information standpoint, this is a single, net-sell event totaling 69,912 shares with no offsetting purchases or option exercises in the same report. The market relevance depends on how this size compares with Gap’s overall share base and Gilligan’s broader holdings, which are not detailed here.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Gilligan Sarah

(Last) (First) (Middle)

2 FOLSOM STREET

(Street)

SAN FRANCISCO CALIFORNIA 94105

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
GAP INC [ GAP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Sup Chn & Transform Ofcr

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/23/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/23/2026		S(1)		69,912	D	$25	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 6, 2025.

	Susanna Zhang, Power of Attorney For: Sarah Gilligan	03/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Gap Inc (GAP) report for Sarah Gilligan?

Gap Inc reported that Chief Supply Chain & Transformation Officer Sarah Gilligan sold 69,912 shares of common stock. The open-market transaction occurred on March 23, 2026 at a reported price of $25.00 per share, fully disposing of this directly held position.

At what price did Sarah Gilligan sell Gap (GAP) shares in this Form 4?

The filing shows Sarah Gilligan sold Gap common stock at $25.00 per share. This price applied to the entire 69,912-share open-market sale reported for March 23, 2026, according to the non-derivative transaction details in the Form 4.

How many Gap (GAP) shares does Sarah Gilligan hold after this reported sale?

After the reported transaction, the Form 4 lists 0 shares of Gap common stock as directly owned in this account. The sale of 69,912 shares on March 23, 2026 reduced the reported direct holdings to zero in this specific filing.

Was Sarah Gilligan’s Gap (GAP) share sale made under a Rule 10b5-1 plan?

Yes. A footnote explains the sale was effected under a Rule 10b5-1 trading plan adopted by Sarah Gilligan on June 6, 2025. Such plans pre-schedule trades, which generally reduces the significance of the exact sale date as a market-timing signal.

Does this Gap (GAP) Form 4 show any option exercises or derivative trades?

No derivative activity is listed. The Form 4 reports only a non-derivative open-market sale of 69,912 shares of common stock. The derivative summary section is empty, indicating no options exercises or other derivative transactions in this particular filing.