Form 4: Garmin Director Catherine A. Lewis Reports Changes in Beneficial Ownership

Catherine A. Lewis, a director at Garmin Ltd, reported the acquisition and disposal of registered shares due to vesting of restricted stock units and tax liability coverage.

Summary

• On June 7, 2024, Catherine A. Lewis acquired 1,090 registered shares of Garmin Ltd. as part of a restricted stock unit grant, which will vest on June 7, 2025.
• On June 9, 2024, 1,501 shares from a previous restricted stock unit award vested and were released to Lewis.
• From these vested shares, 376 were withheld to cover tax liabilities at a price of $163.26 per share.
• Following these transactions, Lewis directly owns 6,822 registered shares of Garmin Ltd., including 1,090 unvested shares from the recent grant.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard executive compensation practices and alignment of interests with the company's performance.

Positives

• The acquisition of shares through restricted stock units aligns the director's interests with the company's long-term performance.

Negatives

• The disposal of shares to cover tax liabilities, while a normal occurrence, slightly reduces the director's holdings.

Future Outlook

The director's holdings will be subject to future vesting schedules and potential transactions.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common among publicly traded companies.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.

Key Dates