Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  PECK ARTHUR L
 2. Date of Event Requiring Statement (Month/Day/Year)
03/12/2007		 3. Issuer Name and Ticker or Trading Symbol
GAP INC [GPS]
(Last)
(First)
(Middle)
C/O GAP INC., 2 FOLSOM ST.		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP, Corp. Strategy & Business
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

SAN FRANCISCO, CA 94105		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 2,711.836
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy)   (1) 05/02/2015 common stock 200,000 $ 21.38 D  
Stock Option (Right to Buy)   (2) 03/13/2016 common stock 125,000 $ 17.84 D  
Performance Unit   (3)   (3) common stock 30,000 $ 0 (5) D  
Performance Unit   (4)   (4) common stock 50,000 $ 0 (5) D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
PECK ARTHUR L
C/O GAP INC.
2 FOLSOM ST.
SAN FRANCISCO, CA 94105		       EVP, Corp. Strategy & Business  

Signatures

/s/ Ingrid Freire, Power of Attorney 03/22/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) These options are fully vested and exercisable.
(2) These options become exercisable in four equal annual installments beginning March 13, 2007.
(3) These units vest in two equal installments. 15,000 units vest on November 28, 2008 and 15,000 units vest on November 28, 2009. Shares are delivered to the reporting person upon vest.
(4) These units vest in two equal installments. 25,000 units vest on February 2, 2009 and 25,000 units vest on February 2, 2010. Shares are delivered to the reporting person upon vest.
(5) Each performance unit represents a contingent right to receive one share of Gap Inc. common stock.

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