Form 4: Garmin CFO Sells Shares After RSU Vesting
Insider Transaction Report
Garmin's CFO and Treasurer, Douglas G. Boessen, reported the vesting of restricted stock units and subsequent sale of shares under a pre-arranged 10b5-1 trading plan.
Summary
- Douglas G. Boessen, CFO and Treasurer of Garmin Ltd. (GRMN), reported transactions involving company shares.
- On February 25, 2026, 8,476 restricted stock units (RSUs) vested and were paid to the reporting person.
- Of these vested shares, 3,732 shares were withheld to cover tax liabilities at a price of $251.99 per share.
- Following the vesting and tax withholding, the reporting person beneficially owned 31,536 shares.
- On February 26, 2026, Boessen sold a total of 3,487 registered shares in three separate transactions under a Rule 10b5-1 trading plan adopted on March 3, 2025.
- The sales occurred at weighted average prices of $251.01 (1,412 shares), $252.01 (1,920 shares), and $253.26 (155 shares).
- After all reported transactions, Boessen beneficially owns 28,049 shares, which includes 16,021 unvested shares from previously granted restricted stock unit awards.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a routine insider transaction involving the vesting of restricted stock units and subsequent sales under a pre-arranged 10b5-1 trading plan, which typically has a neutral market sentiment.
Positives
- The vesting of 8,476 restricted stock units represents earned compensation for the CFO, reflecting performance or tenure.
Negatives
- The sale of 3,487 shares by a key executive, even under a pre-arranged plan, results in a reduction of insider ownership.
Future Outlook
NA
Industry Context
StockSavvy.ai notes that Form 4 filings are specific to individual insider transactions and do not typically provide information relevant to broader industry trends or competitive analysis.
Stakeholder Impact
- Shareholders: A minor reduction in insider ownership due to sales, but the transactions were pre-planned under a Rule 10b5-1 plan, which mitigates concerns about opportunistic selling.
Key Dates
| Date | Description |
|---|---|
| 03/03/2025 | Date the Rule 10b5-1 trading plan was adopted by the reporting person. |
| 02/25/2026 | Date 8,476 restricted stock units vested and 3,732 shares were withheld for tax liability. |
| 02/26/2026 | Date of multiple sales transactions of registered shares under the 10b5-1 plan. |
| 02/27/2026 | Signature date of the reporting person's attorney-in-fact for the filing. |
Keywords
Garmin, GRMN, Form 4, Insider Trading, Stock Sale, CFO, Restricted Stock Units, 10b5-1 Plan
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