Form 4: Gap Inc. Executive Sarah Gilligan Executes Stock Option and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Sarah Gilligan, Chief Supply Chain & Transformation Officer at Gap Inc., exercised stock options and sold 12,000 shares of common stock on August 23, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On August 23, 2024, Sarah Gilligan, Chief Supply Chain & Transformation Officer of Gap Inc., executed a transaction involving the company's stock.
- Gilligan exercised a non-qualified stock option to acquire 12,000 shares of common stock at a price of $8.34 per share.
- Simultaneously, Gilligan sold 12,000 shares of Gap Inc. common stock at a price of $25.00 per share.
- The transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on April 5, 2024.
- Following the reported transactions, Gilligan directly owns 0 shares of Gap Inc. common stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to executive stock transactions and does not inherently convey positive or negative sentiment.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies. Rule 10b5-1 plans are frequently used to allow insiders to sell shares without being accused of trading on non-public information.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it is a routine executive stock transaction.
Key Dates
| Date | Description |
|---|---|
| 03/16/2021 | First anniversary of the date on which the option was granted |
| 04/05/2024 | Date the reporting person adopted the Rule 10b5-1 trading plan |
| 08/23/2024 | Date of the stock option exercise and share sale |
| 03/16/2030 | Expiration date of the Non-Qualified Stock Option |
| 08/26/2024 | Date of the Form 4 filing |
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