Gap Inc. (GAP) director and 10% owner reports sale of 400,000 shares

Rhea-AI Filing Summary

Gap Inc. director and 10% owner reported a significant stock sale. On 12/03/2025, the reporting person sold 400,000 shares of Common Stock at a weighted average price of $27.02, with individual trade prices ranging from $26.795 to $27.28.

After this transaction, the reporting person beneficially owned 15,922,115 shares of Common Stock in direct form, plus 2,853,453 shares held indirectly by a trust, 150,061 shares held indirectly by a spouse, and 22,015,000 shares held indirectly through limited partnerships. The filing notes that full trade details are available upon request.

Insider Trade Summary

Net Seller: 400,000 shares ($10,808,000)

Net Sell 4 txns

Insider FISHER WILLIAM SYDNEY

Role Director, 10% Owner

Sold 400,000 shs ($10.81M)

Type	Security	Shares	Price	Value
Sale	Common Stock	400,000	$27.02	$10.81M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 2,853,453 shares (Indirect, By Trust); Common Stock — 15,922,115 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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).

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^*

FISHER WILLIAM SYDNEY

(Last) (First) (Middle)

1300 EVANS AVENUE, NO. 880154

(Street)

SAN FRANCISCO CA 94188

(City) (State) (Zip)

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

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

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/03/2025

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

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

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

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	12/03/2025		S		400,000	D	$27.02(1)	2,853,453	I	By Trust
Common Stock								15,922,115	D
Common Stock								150,061	I	By Spouse
Common Stock								22,015,000	I	By Limited Partnerships

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. This transaction was executed in multiple trades at prices ranging from $26.795 to $27.28. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

	/s/ Jane Spray, Attorney-in-Fact	12/05/2025
	** 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.

FAQ

What insider transaction did GAP report on this Form 4?

The filing reports that a director and 10% owner of Gap Inc. sold 400,000 shares of Common Stock on 12/03/2025.

At what price were the 400,000 GAP shares sold?

The 400,000 shares of Gap Inc. Common Stock were sold at a weighted average price of $27.02, with trade prices ranging from $26.795 to $27.28.

How many GAP shares does the insider own directly after the transaction?

Following the reported sale, the insider directly owned 15,922,115 shares of Gap Inc. Common Stock.

What indirect holdings in GAP stock does the reporting person have?

After the transaction, the insider held 2,853,453 shares indirectly via a trust, 150,061 shares indirectly via a spouse, and 22,015,000 shares indirectly via limited partnerships.

Does this GAP Form 4 provide detailed trade prices for the sale?

It states the sale was executed in multiple trades from $26.795 to $27.28 and notes the insider will provide full trade details upon request to the SEC staff, the issuer, or a security holder.

Who signed the GAP insider transaction report and when?

The report was signed by /s/ Jane Spray, Attorney-in-Fact on 12/05/2025.