Form 4: Garmin Director Jonathan Burrell Reports Gift of 800,000 Shares to Grantor Retained Annuity Trusts
SEC Form 4 Filing
Jonathan Burrell, a director at Garmin Ltd, reported gifting 800,000 registered shares to grantor retained annuity trusts (GRATs) on August 16, 2024.
Summary
- On August 16, 2024, Jonathan Burrell, a director of Garmin Ltd, reported a transaction involving the gifting of 800,000 registered shares.
- These shares were gifted to grantor retained annuity trusts (GRATs).
- Following the transaction, Burrell's directly held registered shares remain at 8,766, and his indirect holdings through various trusts and LLCs are also detailed.
- Burrell disclaims beneficial ownership of shares held by GRATs, CLATs, LLCs and trusts except to the extent of his pecuniary interest.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to a director's stock transactions. It doesn't convey any explicit positive or negative sentiment about the company's performance or future prospects.
Industry Context
This filing is a routine disclosure of insider transactions and doesn't necessarily reflect a change in the company's outlook or performance. It is common for high-net-worth individuals to use GRATs for estate planning purposes.
Key Dates
| Date | Description |
|---|---|
| 08/16/2024 | Date of transaction: Gift of 800,000 shares to GRATs |
| 08/19/2024 | Date of signature on the Form 4 |
| 06/07/2025 | Vesting date for 1,090 restricted stock units |
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