4/A: Garmin CFO Douglas Boessen Amends Form 4 Filing to Include Detailed Price Information on Share Sales

Garmin CFO Douglas Boessen amended his Form 4 filing to include detailed price information regarding share sales executed on June 10, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Douglas G. Boessen, CFO and Treasurer of Garmin Ltd., filed an amendment to his Form 4, initially filed on June 11, 2024.
• The amendment includes footnotes detailing the price ranges for share sales executed on June 10, 2024.
• Boessen sold 2,234 registered shares at a weighted average price of $161.5755, with individual trades ranging from $161.225 to $162.10.
• He also sold 116 registered shares at a weighted average price of $162.7533, with individual trades ranging from $162.74 to $162.96.
• These transactions were executed under a Rule 10b5-1 trading plan adopted on November 7, 2023.
• Following the reported transactions, Boessen beneficially owns 28,010 registered shares, including 15,507 unvested shares acquired through restricted stock unit awards.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The filing is a routine amendment to provide additional details about previously reported transactions. The use of a 10b5-1 plan suggests pre-planned sales, reducing concerns about insider information driving the transactions.

Industry Context

Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, allowing investors to monitor potential alignment of interests between management and shareholders. The use of a 10b5-1 trading plan suggests that these trades were pre-planned and not based on any inside information at the time of the transactions.

Comparison to Industry Standards

• Insider trading activity is closely monitored across the industry, with companies like Apple (AAPL), Microsoft (MSFT), and Alphabet (GOOGL) also subject to similar scrutiny of their executives' trading activities.
• The use of Rule 10b5-1 trading plans is a common practice among executives at publicly traded companies to avoid accusations of insider trading, aligning with industry standards for ethical and legal compliance.
• The level of detail provided in the amended Form 4, specifically the inclusion of price ranges for the transactions, reflects a commitment to transparency that is generally expected of executives in leading companies.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider trading activity.
• The use of a 10b5-1 trading plan can reassure stakeholders that transactions are pre-planned and not based on inside information.

Key Dates