Gap 8-K 2007
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report
(Date of earliest event reported)
August 22, 2007
THE GAP, INC.
(Exact name of registrant as specified in its charter)
(Registrants telephone number,
including area code)
(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):
On August 23, 2007, The Gap, Inc. (the Company) issued a press release announcing the authorization of an additional $1.5 billion for the Companys share repurchase program. A copy of this press release is attached hereto as Exhibit 99.2.
Concurrent with this authorization, on August 22, 2007, the Company entered into purchase agreements (the Agreements) with individual members of the Fisher family: John J. Fisher, William S. Fisher, Robert J. Fisher, and Donald and Doris Fisher (each, a Seller). Pursuant to the agreements, the Company has agreed to buy and each Seller has agreed to sell a number of shares of the Companys common stock which in the aggregate among all of the Sellers would equal approximately 17% of the total number of shares purchased by the Company pursuant to its $1.5 billion repurchase program. The purchase price for the shares of the Companys common stock to be purchased from each Seller will be determined on a monthly basis and will be the weighted average price that the company pays for share repurchases pursuant to its repurchase program in the open market. Either the Company or the individual Seller may terminate the agreement upon 15 business days notice. The foregoing description of the Agreements is qualified in its entirety by reference to the text of the Agreements, copies of which are filed as Exhibits 10.1 through 10.4 of to this Current Report on Form 8-K.
On August 23, 2007, the Company issued a press release announcing the Companys earnings for the second quarter ended August 4, 2007. A copy of this press release is attached hereto as Exhibit 99.1.
On August 23, 2007, the Company issued a press release announcing the authorization of an additional $1.5 billion for the Companys existing share repurchase program. A copy of this press release is attached hereto as Exhibit 99.2.
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.