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    Richard Dickson

    President and Chief Executive Officer at Gap Inc
    Board
    Since August 22, 2023
    Age
    56 years
    Tenure
    Began tenure at GAP Inc. with an appointment to the Board in November 2022 and assumed the role of President and Chief Executive Officer on 08-22-2023.

    Also at Gap Inc

    AT
    Amy Thompson
    Executive Vice President and Chief People Officer
    CB
    Chris Blakeslee
    President and Chief Executive Officer, Athleta
    EC
    Eric Chan
    Executive Vice President, Chief Business and Strategy Officer

    About

    Richard Dickson is a seasoned executive in the consumer products and retail sectors, currently serving as the President and Chief Executive Officer of GAP Inc. at 56 years old. His early career included co-founding an online retailer for high-end cosmetics and holding executive positions at renowned companies, which laid the foundation for his later leadership roles.

    Before joining GAP Inc., he held significant roles at The Jones Group and Mattel, Inc., demonstrating a strong track record in global brand revitalization and operational transformation. At Mattel, his responsibilities ranged from Chief Brands Officer (2014-2015) to President and Chief Operating Officer (2015-2023), contributing to the reinvigoration of iconic brands.

    At GAP Inc., after being appointed to the Board in November 2022, he assumed the CEO role on 08-22-2023. In his current position, he leverages extensive industry experience to drive innovation and growth across GAP’s portfolio of brands, continuously focused on transforming the company's market presence.

    $GAP Performance Under Richard Dickson

    Past Roles

    OrganizationRoleDate RangeDetails
    Mattel, Inc. President and Chief Operating Officer 2015–2023 Led the global toy company
    Mattel, Inc. Chief Brands Officer 2014–2015 Focused on brand management
    The Jones Group President and Chief Executive Officer, Branded Businesses 2010–2014 Managed a portfolio of premier apparel, footwear, and accessories brands
    Mattel, Inc. Various Senior Executive Roles 2000–2010 Held various senior executive roles

    Fixed Compensation

    Data from  FY 2024
    Component NameAmount ($)Payment ScheduleAdditional Details
    Base Salary1,400,000 AnnuallyUnchanged throughout fiscal 2024.
    Sign-On Bonus175,000 One-time (at joining, Aug 2023)Earned portion with repayment provisions as per offer details.
    Deferred Compensation Plan Match42,000 Per plan scheduleMatching on base salary deferrals exceeding IRS limit.
    Relocation Costs31,000 One-timePaid per offer letter including temporary housing costs.
    Personal Use of Airplane16,184 As incurredIncremental cost for limited personal use, including family travel.
    Financial Counseling15,243 As providedCost of counseling services including tax preparation and estate planning.
    Tax Payments26,428 ReimbursementTax reimbursements for relocation and commuting costs.
    401(k) Plan Match13,800 Per plan scheduleCompany matching contributions under the 401(k) Plan.
    Disability Plan829 Premium paymentLong-term disability insurance premium.
    Life Insurance672 Premium paymentLife insurance premiums for Director-level employees.
    Gift Matching100,000 AnnualGift Match Program matching contributions to eligible nonprofits.
    Ongoing Commuting Benefit62,937 AnnualReflects commuting cost benefits; capped at $50,000 per year with additional provisions.
    Other Compensation390,188 VariesIncludes home security ($163,248), club memberships, executive physical services, and miscellaneous benefits.

    Performance Compensation

    Data from  FY 2024

    Annual Bonus

    MetricWeightThresholdTargetMaximumActual ResultPayout Funding
    SG&A % of Net Sales33.3% >34.4% = 0% 34.1% = 100% ≤33.5% = 200% 32.9% 200%
    Gap Inc. EBIT33.3% Threshold Goal Target Goal Maximum Goal Achieved (200%) 200%
    Individualized Weighted Brand EBIT33.3% Threshold Goal Target Goal Maximum Goal 160% 160%

    Bonus Details:

    • Base Salary: 1,400,000
    • Target Bonus % of Base Salary: 185%
    • Funded Bonus: 4,834,665
    • Actual Bonus Payout: 5,180,000, representing 200% of target
    • Evaluation Period: Fiscal 2024
    • Vesting: Not applicable; cash bonus paid per Executive MICAP plan

    Non-Equity Incentive Plan Compensation

    MetricAmount ($)Threshold / Target / MaximumDetails
    Threshold647,500 25% attainmentMinimum performance needed
    Target2,590,000 100% attainmentBased on fiscal 2024 financial metrics
    Maximum5,180,000 200% attainmentPerformance-based cash incentive
    • Evaluation Period: Fiscal 2024
    • Grant Date: March 18, 2025
    • Vesting: Earned annually; no additional vesting (cash-based)

    Long-Term Incentives (Target Grant Value)

    Performance-Based Restricted Stock Units (PRSUs)

    DetailValueAdditional Details
    Threshold Shares126,356 Minimum required shares
    Target Shares315,893 Based on performance metrics
    Maximum Shares947,679 300% of target award
    Grant Date Fair Value8,036,318 For PRSUs
    Vesting Schedule100% on certification date After a three-year performance period
    • Performance Metrics: Three-year cumulative EBIT at Gap Inc. level and TSR modifier (up to ±20%)

    Time-Based Restricted Stock Units (RSUs)

    DetailValueAdditional Details
    Shares Granted177,690 Time-based award
    Vesting Schedule25% per year over four years Ensures long-term service and retention
    Grant Date Fair Value4,142,674 For RSUs
    • Combined Total Grant Date Fair Value: 12,281,658 (PRSUs + RSUs)
    • Grant Date: March 18, 2024

    The performance compensation for fiscal 2024 integrates the annual bonus, non-equity incentive plan compensation, and long-term incentives. Actual results and performance achievements have been detailed with exact dollar amounts, share quantities, percentages, and evaluation periods as available in the documents.