Form 4: Garmin Co-COO Desbois Reports Stock Transactions

Garmin's co-COO Patrick Desbois reported the vesting of restricted stock units and a new RSU grant, alongside shares withheld for tax.

Summary

• Patrick Desbois, co-Chief Operating Officer of Garmin Ltd. (GRMN), reported changes in his beneficial ownership of registered shares.
• On December 15, 2025, 6,611 shares from previously granted restricted stock unit awards vested and were released to Mr. Desbois.
• Of the vested shares, 2,933 shares were withheld at a price of $207.23 per share to satisfy the resulting tax liability.
• Following the tax withholding, Mr. Desbois's beneficial ownership of registered shares was 60,115, which includes 18,984 unvested shares from prior awards.
• On the same date, December 15, 2025, Mr. Desbois received a new grant of 5,361 restricted stock units at a price of $0.
• These newly granted restricted stock units are scheduled to vest in three equal annual installments, with the first installment vesting on December 15, 2026.
• After all reported transactions, Mr. Desbois's total beneficial ownership of registered shares increased to 65,476, which includes 24,345 unvested shares from the December 15, 2025 grant and previously granted awards.

Sentiment

Score: 6

Explanation: The filing reports routine insider transactions involving the vesting of existing restricted stock units, tax withholding, and the grant of new restricted stock units. The new grant is a positive for management alignment, leading to a slightly positive sentiment.

Positives

• The grant of 5,361 new restricted stock units to the co-COO aligns management's interests with long-term shareholder value.
• The multi-year vesting schedule for the new RSUs, beginning December 15, 2026, indicates continued commitment and retention of key executive talent.

Negatives

• 2,933 shares were disposed of at $207.23 per share to cover tax liabilities associated with vested restricted stock units, representing a reduction in direct share ownership.

Future Outlook

The grant of new restricted stock units with a three-year vesting schedule, commencing in December 2026, indicates a continued long-term alignment of the co-COO's incentives with the company's future performance and shareholder value creation.

Stakeholder Impact

• Shareholders: The grant of new restricted stock units to a key executive enhances alignment between management's interests and long-term shareholder value.

Next Steps

• The newly granted restricted stock units will vest in three equal annual installments, beginning on December 15, 2026.

Key Dates

Keywords

Garmin, GRMN, Form 4, Insider Transaction, Restricted Stock Units, RSU, Executive Compensation, Beneficial Ownership