Item 8.01Other Events.

On June 8, 2009, Kip Garcia, The Gymboree Corporation's (the "Company's") President and Blair Lambert, the Company's Chief Operating Officer and Chief Financial Officer, each established a Rule 10b5-1 sales plan for shares of the Company's common stock as part of a personal investment diversification strategy. Rule 10b5-1 requires, among other things, that the trading plans be established only at a time when the officer is not aware of material, nonpublic information. The plans specify the term of the plans, which for each officer will expire July 9, 2010, the number of shares to be sold, and the times and prices at which shares may be sold. The shares to be sold will be acquired upon the exercise of a portion of stock options and pursuant to restricted stock awards that were granted to each of Mr. Garcia and Mr. Lambert from 2003 to 2008.

If all conditions of the plans are met, the aggregate number of shares that may be sold under the plans would be 50,638 and 80,846, for each of Mr. Garcia and Mr. Lambert, respectively, which would equal approximately 15% and 23%, respectively, of the aggregate number of shares, including vested and unvested equity awards, each officer holds as of June 10, 2009.

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