The Gap, Inc. Insider Trading Activity

Insider Trade Summary

23,203.9646 shares exercised/converted

Exercise 8 txns

Insider FISHER WILLIAM SYDNEY

Role Director, 10% Owner

Type	Security	Shares	Price	Value
Exercise	Stock Units	20,631	$0.00	$0.00
Exercise	Dividend Equivalent Rights	2,572.9646	$0.00	$0.00
Exercise	Common Stock	20,631	$0.00	$0.00
Exercise	Common Stock	2,572	$0.00	$0.00
Gift	Common Stock	25,500	$0.00	$0.00
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Units — 34,633 contracts (Direct); Dividend Equivalent Rights — 1,225.8949 contracts (Direct); Common Stock — 15,936,065 shares (Direct); Common Stock — 150,061 shares (Indirect, By Spouse); Common Stock — 3,696,517 shares (Indirect, By Trust); Common Stock — 22,015,000 shares (Indirect, By Limited Partnerships)

Footnotes (3)

1. F1. 20,631 shares were issued in settlement of the stock units originally granted to the reporting person on June 30, 2022. Each stock unit represented the right to receive one share of The Gap, Inc. common stock ("Gap Common Stock").
2. F2. 2,572 shares were issued in settlement of dividend equivalent rights on the above-referenced stock units originally granted to the reporting person on June 30, 2022. Each dividend equivalent right was the economic equivalent of one share of Gap Common Stock.
3. F3. The transaction set forth herein was made pursuant to a plan adopted on March 18, 2025, that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

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Accepted by SEC EDGAR 07/02/2025 - 07:38 PM EDT Learn about SEC filing dates

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^*

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)
06/30/2025

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	06/30/2025		M		20,631(1)	A	$0	15,958,993	D
Common Stock	06/30/2025		M		2,572(2)	A	$0	15,961,565	D
Common Stock	06/30/2025		G(3)		25,500	D	$0	15,936,065	D
Common Stock								150,061	I	By Spouse
Common Stock								3,696,517	I	By Trust
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
Stock Units	$0	06/30/2025		M			20,631	(1)	(1)	Common Stock	20,631	$0	34,633	D
Dividend Equivalent Rights	$0	06/30/2025		M			2,572.9646	(2)	(2)	Common Stock	2,572.9646	$0	1,225.8949	D

Explanation of Responses:

1. 20,631 shares were issued in settlement of the stock units originally granted to the reporting person on June 30, 2022. Each stock unit represented the right to receive one share of The Gap, Inc. common stock ("Gap Common Stock").

2. 2,572 shares were issued in settlement of dividend equivalent rights on the above-referenced stock units originally granted to the reporting person on June 30, 2022. Each dividend equivalent right was the economic equivalent of one share of Gap Common Stock.

3. The transaction set forth herein was made pursuant to a plan adopted on March 18, 2025, that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

	/s/ Jane Spray, Attorney-in-Fact	07/02/2025
	** 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.