Form 4: Garmin Director Details Future Share Transfers

Garmin Ltd. Director Jonathan Burrell filed a Form 4 detailing future planned transfers of company shares through various trusts, effective August 7, 2025.

Summary

• Director Jonathan Burrell reported changes in beneficial ownership of Garmin Ltd. shares.
• The reported transactions are scheduled for August 7, 2025, and are coded as 'G' (Gift) with a price of $0.00, indicating transfers without monetary consideration.
• Transactions involve both acquisitions and dispositions of shares, primarily through grantor retained annuity trusts (GRATs), limited liability companies (LLCs), and a revocable trust.
• Direct ownership includes 8,493 Registered Shares and 858 unvested restricted stock units (RSUs) that are set to vest on June 6, 2026.
• Indirect holdings are substantial, managed through various trusts for family members or the reporting person's benefit, with beneficial ownership disclaimed except to the extent of pecuniary interest.

Sentiment

Score: 5

Explanation: The filing is a routine disclosure of insider stock transactions, primarily for estate planning purposes, and does not reflect positively or negatively on the company's operational or financial performance.

Future Outlook

This filing details future planned insider stock transactions and does not provide any forward-looking statements or guidance regarding Garmin Ltd.'s operational or financial performance.

Industry Context

This filing is a routine disclosure of an insider's stock transactions, primarily for estate planning purposes, and does not reflect on broader industry trends or competitive dynamics.

Related Party Transactions

• Transfers of shares to grantor retained annuity trusts (GRATs) established by the reporting person, with children holding remainder interests.
• Transfers of shares to grantor retained annuity trusts (GRATs) established by the reporting person's mother, with the reporting person holding a remainder interest.
• Holdings through limited liability companies (LLCs) wholly-owned by a GRAT remainder trust established for the reporting person's benefit.
• Holdings through a GRAT remainder trust established for the reporting person's benefit.
• Holdings through the reporting person's mother's revocable trust, where the reporting person is a co-trustee, attorney-in-fact, and holds a remainder interest.

Stakeholder Impact

• Shareholders may note the director's estate planning activities, but these transactions do not directly impact the company's operational performance or strategic direction.

Next Steps

• Execution of planned share transfers on August 7, 2025.
• Vesting of 858 restricted stock units on June 6, 2026.

Key Dates

Keywords

Garmin, GRMN, SEC Form 4, Insider Transaction, Beneficial Ownership, Director, Stock Transfer, Trust, GRAT, Estate Planning