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Form 8-K GAP INC For: Oct 31

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November 2, 2016 4:22 PM EDT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549
_____________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report
(Date of earliest event reported)

October 31, 2016

THE GAP, INC.

(Exact name of registrant as specified in its charter)

Delaware
 
1-7562
 
94-1697231
(State of incorporation)
 
(Commission File Number)
 
(IRS Employer Identification No.)




Two Folsom Street
San Francisco, California
 
94105
(Address of principal executive offices)
 
(Zip Code)

(415) 427-0100
(Registrant’s telephone number,
including area code)

N/A
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ]    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
[ ]    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))




Item 5.02. Departure of Directors or Certain Officer; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On November 2, 2016, The Gap, Inc. (the “Company”) issued a press release announcing that Sabrina Simmons, Executive Vice President, Chief Financial Officer, and principal accounting officer will leave the Company. Ms. Simmons will be employed by the Company until February 1, 2017 and will cease to hold the position of Executive Vice President, Chief Financial Officer, and principal accounting officer on a date prior to such date to be determined. A copy of this press release is attached hereto as Exhibit 99.1.

Item 9.01.    Financial Statements and Exhibits
99.1     Press Release dated November 2, 2016


2


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
THE GAP, INC.
 
 
(Registrant)
 
 
 
 
 
 
 
 
 
Date:
November 2, 2016
 
By:
/s/ Julie Gruber
 
 
 
Julie Gruber
 
 
 
Executive Vice President and Global General Counsel
 
 
 


3


EXHIBIT INDEX



Exhibit Number
Description
 
 
 
 
99.1
Press Release dated November 2, 2016
 

    
    


4
Exhibit 99.1




GAP INC. ANNOUNCES CHIEF FINANCIAL OFFICER SABRINA SIMMONS TO DEPART AT END OF FISCAL YEAR


SAN FRANCISCO - November 2, 2016 - Gap Inc. (NYSE: GPS) today announced that executive vice president and chief financial officer Sabrina Simmons will be leaving the company. Simmons will remain with Gap Inc. through the end of the 2016 fiscal year, ensuring a seamless transition over the coming months.

“Throughout her 15 year tenure, Sabrina has been one of our most passionate and respected leaders. She was critical in establishing Gap Inc.’s capital structure framework and maintaining operating discipline across the enterprise, both of which have delivered significant value to our shareholders,” said Art Peck, chief executive officer of Gap Inc.
 
“Since I assumed the CEO role two years ago, Sabrina has been an instrumental partner in helping the company transition to a new leadership team. With that period of transition behind us, Sabrina and I agreed that this was an appropriate time for a change in the organization and for her to pursue the next chapter in her career. Sabrina and I will work together to ensure an orderly transition in the coming months. Most of all, I am grateful for her partnership and for all that Sabrina has contributed to Gap Inc.,” Peck added.
 
Simmons said, “I feel very fortunate to have spent a meaningful part of my career at Gap Inc., and I’ll always be grateful to the Fisher family, to my colleagues, and to my team for the opportunities I’ve had with the company.”

Since joining Gap Inc. in 2001, Simmons has progressed through positions of increasing responsibility from vice president and treasurer to executive vice president. Simmons has served as the company’s CFO since late 2007. Most recently, her responsibilities have included all global financial functions, including corporate and brand financial planning and analysis, treasury, risk management, tax, investor relations, controllership, corporate shared service centers, and internal audit, in addition to real estate, loss prevention, and corporate facilities.

About Gap Inc.
Gap Inc. is a leading global retailer offering clothing, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Athleta, and Intermix brands. Fiscal year 2015 net sales were $15.8 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through about 3,300 company-operated stores, about 450 franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.

Investor Relations Contact:
Tina Romani
(415) 427-5264
 
Media Relations Contact:
Jennifer Poppers
(415) 427-1729










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