Michael Francis, Brand President and CEO at Gap Inc., filed an initial statement of beneficial ownership with the SEC on November 3, 2026, disclosing a triggering event dated November 2, 2026.

Key Highlights

  • Reporting person: Michael Francis, identified in the filing as Brand President and CEO of Gap Inc. (NYSE:GAP).
  • Securities disclosed: 45,848 restricted stock units (RSUs) in Table II, each representing a contingent right to receive one share of Gap Inc. Common Stock.
  • Two RSU grants: The filing states the total reflects two separate RSU grant tranches with distinct vesting schedules.
  • First grant vesting: 9,456 shares vest on May 29, 2027; 9,456 on May 29, 2028; and 9,456 on May 29, 2029.
  • Second grant vesting: 5,826 shares vest on September 1, 2027; 5,827 on September 1, 2028; and 5,827 on September 1, 2029.
  • Ownership form: All RSUs are held directly, with an exercise or conversion price of $0.0 as reported in the filing.

Michael Francis Discloses Initial RSU Holdings as Gap Inc. Brand President and CEO

According to the filing, Michael Francis submitted a Form 3 initial statement of beneficial ownership on November 3, 2026, with a date of event requiring the statement of November 2, 2026. The filing identifies Francis as an officer of Gap Inc., holding the title of Brand President and CEO. No securities are listed in Table I, which covers non-derivative securities, meaning the disclosure relates exclusively to derivative securities.

In Table II, the filing reports 45,848 RSUs classified as derivative securities. The filing states that "each restricted stock unit represents a contingent right to receive one share of Gap Inc. Common Stock." The RSUs are described as comprising two grants. The first grant produces three equal tranches of 9,456 shares, vesting annually on May 29 in 2027, 2028, and 2029. The second grant produces three tranches of 5,826, 5,827, and 5,827 shares, vesting annually on September 1 in 2027, 2028, and 2029. The filing notes the conversion or exercise price as $0.0 and lists ownership as direct.

The filing was signed by De Anna Mekwunye as Power of Attorney for Michael Francis and is dated November 3, 2026. No amendment date is indicated, confirming this is an initial, not amended, filing.

What Was Disclosed

Michael Francis, Brand President and CEO of Gap Inc. (NYSE:GAP), filed an initial beneficial ownership statement disclosing 45,848 RSUs across two grants, with vesting dates spanning May 2027 through September 2029, all held directly with no non-derivative securities reported.