Gap director Fisher shifts 6.0M shares via partnerships
Rhea-AI Filing Summary
GAP INC (GAP) reported a Form 4 for director and ten percent owner William Sydney Fisher reflecting an internal equity restructuring rather than market trades. On 2026-08-31, entities associated with Fisher completed a transaction coded J, described as a pro rata distribution for no consideration involving common stock held through limited partnerships.
The filing shows an indirect disposition of 6,004,089 shares of common stock held "By Limited Partnerships," with indirect holdings through those partnerships reported as 16,010,911 shares following the transaction. It also reports an associated acquisition of 4,089 shares into Fisher’s direct ownership, with direct holdings of 15,924,823 shares afterward, plus additional indirect holdings of 150,901 shares "By Spouse" and 2,753,453 shares "By Trust." No Rule 10b5-1 trading plan is indicated.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 6,000,000 shares
Net Sell
4 txns
Insider
FISHER WILLIAM SYDNEY
Role
Director, 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock F1 | 6,004,089 | $0.00 | $0.00 |
| Other | Common Stock F1 | 4,089 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 16,010,911 shares (Indirect, By Limited Partnerships);
Common Stock — 15,924,823 shares (Direct);
Common Stock — 150,901 shares (Indirect, By Spouse);
Common Stock — 2,753,453 shares (Indirect, By Trust)
Footnotes (1)
- F1. Represents a pro rata distribution for no consideration.
Key Figures
Indirect shares disposed by Limited Partnerships: 6,004,089 shares
Indirect holdings by Limited Partnerships after transaction: 16,010,911 shares
Direct shares acquired: 4,089 shares
+3 more
6 metrics
Indirect shares disposed by Limited Partnerships
6,004,089 shares
Code J pro rata distribution for no consideration on 2026-08-31
Indirect holdings by Limited Partnerships after transaction
16,010,911 shares
GAP common stock indirectly owned following 2026-08-31 transaction
Direct shares acquired
4,089 shares
Code J acquisition into direct ownership on 2026-08-31
Direct holdings after transaction
15,924,823 shares
GAP common stock directly owned by William Sydney Fisher after 2026-08-31
Indirect holdings by Spouse
150,901 shares
GAP common stock indirectly owned "By Spouse" as of 2026-08-31
Indirect holdings by Trust
2,753,453 shares
GAP common stock indirectly owned "By Trust" as of 2026-08-31
Key Terms
pro rata distribution, Limited Partnerships, indirect ownership, ten percent owner
4 terms
pro rata distribution financial
"Represents a pro rata distribution for no consideration."
A pro rata distribution is when a company or organization shares out money, assets, or benefits evenly among all eligible people based on their size or share. For example, if a company makes a profit and distributes it to shareholders, each person gets a portion proportional to how many shares they own. It ensures everyone gets their fair part based on their ownership or stake.
Limited Partnerships financial
"nature_of_ownership: By Limited Partnerships"
A limited partnership is a business structure with two types of partners: one or more general partners who run the business and carry full legal responsibility for its debts, and one or more limited partners who contribute money but do not take part in daily management and whose legal responsibility is capped at the amount they invested. For investors, this setup matters because it separates control from financial risk—like founders steering a boat while passive backers fund the trip—and determines who makes decisions, how profits and losses flow to owners for taxes, and how easily an investor can sell their stake.
indirect ownership financial
"direct_or_indirect: I, ownership_type: indirect"
ten percent owner regulatory
"is_ten_percent_owner: 1"
FAQ
What insider transaction did William Sydney Fisher report in GAP (GAP) common stock?
William Sydney Fisher reported a code J transaction in GAP common stock, described as a pro rata distribution for no consideration on 2026-08-31, involving shares held through limited partnerships and a small related shift into his direct ownership.
What indirect GAP (GAP) holdings by William Sydney Fisher’s spouse and trust are reported?
The filing reports indirect GAP common stock holdings of 150,901 shares "By Spouse" and 2,753,453 shares "By Trust" as of 2026-08-31. These positions are classified as indirect ownership separate from Fisher’s direct holdings and the limited partnership holdings.
Was William Sydney Fisher’s GAP (GAP) transaction under a Rule 10b5-1 plan?
No. The Form 4 indicates the Rule 10b5-1 checkbox is not affirmed, and there is no footnote stating that the 2026-08-31 transactions in GAP common stock were effected pursuant to a Rule 10b5-1 or other pre-arranged trading plan.
Were any derivatives involved in William Sydney Fisher’s GAP (GAP) Form 4 filing?
No. The derivative summary shows no derivative transactions reported in this Form 4. All reported positions and movements for William Sydney Fisher on 2026-08-31 relate to GAP common stock, not to options, warrants, or other derivative securities.
AI-generated analysis. How Rhea-AI works. Not financial advice.
