---
schema_version: "secwatch.filing_event.v1"
accession: "0000039911-24-000137"
form_type: "8-K"
ticker: "GAP"
cik: "0000039911"
company_name: "GAP INC"
filed_at: "2024-06-28T23:59:59+00:00"
generated_at: "2026-06-01T00:52:55.942823+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# The Gap adopts new executive severance plan covering 4 named officers effective July 1, 2024

## Summary
- Plan covers Katrina O'Connell, Horacio Barbeito, Chris Blakeslee, and Mark Breitbard.
- Severance for non-CIC termination: 18 months salary (offset by other compensation), prorated bonus, COBRA subsidy, accelerated RSU vesting.
- For termination within 18 months after Change in Control: 2x base + target bonus lump sum, prorated bonus, full acceleration of equity.
- Plan replaces individual severance arrangements expiring June 30, 2024; plan expires June 30, 2029.

## SEC filing metadata
- accession: 0000039911-24-000137
- form_type: 8-K
- ticker: GAP
- cik: 0000039911
- company_name: GAP INC
- filed_at: 2024-06-28T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/39911/000003991124000137/0000039911-24-000137-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39911/000003991124000137/gps-20240628.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000039911-24-000137
- JSON: https://secwatch.observer/filing/0000039911-24-000137.json
- Plain text: https://secwatch.observer/filing/0000039911-24-000137.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.