Item 8.01 Other Events.

On October 9, 2009, Matthew McCauley, The Gymboree Corporation's (the "Company's") Chairman and Chief Executive Officer, 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 a trading plan be established only at a time when the officer is not aware of material, nonpublic information. The plan specifies the term of the plan, which will expire January 31, 2011, the number of shares to be sold, and the times and prices at which shares may be sold. The shares were acquired pursuant to restricted stock awards that were granted to Mr. McCauley from 2005 to 2009.

If all conditions of the plan are met, up to 180,000 shares may be sold under the plan, which would equal approximately 33% of the aggregate number of shares, including vested and unvested equity awards, that Mr. McCauley holds as of October 9, 2009. Additional shares will be sold under the plan to satisfy Mr. McCauley's tax withholding obligations with respect to restricted stock awards that are scheduled to vest during the term of the plan.

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