Barbeito Horacio 4

What Happened

• Horacio Barbeito, President & CEO of Old Navy at Gap Inc., had 27,147 restricted stock units (RSUs) convert into common shares on March 18, 2026. The RSUs converted at $0 exercise price (typical for RSUs). To cover tax withholding, 11,535 of those shares were withheld/disposed at $23.85 per share, totaling $275,110.

Key Details

• Transaction date: March 18, 2026.
• Primary actions reported: Exercise/conversion of derivative (code M) — 27,147 RSUs converted into shares; Tax withholding/payment (code F) — 11,535 shares withheld at $23.85 for $275,110.
• Exercise price on conversion: $0 (RSU conversion).
• Footnotes: F1 — each RSU equals one share; F2 — these RSUs were part of a 108,588 RSU grant on March 18, 2024 that vests in four equal annual installments (27,147 per installment).
• Shares owned after the transactions: not specified in the provided filing details.
• Filing: Form 4 filed March 19, 2026 (one day after the transaction) — appears timely (no late filing flag reported).

Context

• This was a routine RSU vest/settlement with shares withheld to satisfy tax obligations (a cashless-style settlement), not an open-market sale or a new purchase signal. Such withholdings are common when equity awards vest and do not necessarily indicate a change in the insider’s market view.