Form 4: Garmin Co-COO Sells Shares Under 10b5-1 Plan

Garmin's co-COO, Patrick Desbois, sold 3,678 registered shares for $773,868 on January 7, 2026, under a pre-arranged 10b5-1 trading plan.

Summary

• Patrick Desbois, co-COO of Garmin Ltd. (GRMN), reported the sale of company shares.
• A total of 3,678 registered shares were sold on January 7, 2026.
• The sales were executed under a Rule 10b5-1 trading plan, which was adopted on August 1, 2025.
• The shares were sold in two separate transactions: 2,190 shares at $210 per share and 1,488 shares at $211 per share.
• The total proceeds from these sales amounted to $773,868.
• Following these transactions, Desbois beneficially owns 61,798 registered shares, which includes 24,345 unvested shares from restricted stock unit awards.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While insider selling can sometimes be perceived negatively, the transaction was executed under a pre-arranged 10b5-1 plan, which mitigates concerns that it is based on new, undisclosed negative information. It represents a routine personal financial management activity rather than a statement on the company's immediate prospects.

Positives

• The transaction was executed under a Rule 10b5-1 trading plan, indicating it was pre-scheduled and not a reaction to immediate, undisclosed company news.

Negatives

• An executive selling shares, even under a 10b5-1 plan, reduces their direct equity stake in the company, which some investors might interpret as a slight reduction in alignment of interests.

Future Outlook

NA

Industry Context

Executive stock sales under Rule 10b5-1 plans are a common practice in the industry, allowing insiders to sell shares on a pre-determined schedule to manage personal finances while avoiding accusations of trading on material non-public information.

Stakeholder Impact

• Shareholders may interpret the executive's sale of shares differently; some may view it as a normal part of executive compensation and financial planning, while others might see it as a slight reduction in management's direct equity alignment with shareholder interests.

Key Dates

Recommendation

The filing reports a pre-scheduled insider sale by a co-COO under a Rule 10b5-1 plan. While insider selling can sometimes be viewed negatively, the pre-planned nature mitigates concerns that it's based on new, undisclosed negative information. This single transaction does not provide sufficient new information to alter a fundamental investment thesis for Garmin, thus a 'hold' recommendation is appropriate.

Keywords

Garmin, GRMN, insider trading, stock sale, 10b5-1 plan, executive compensation, Patrick Desbois