Form 4: Garmin Director Jonathan Burrell Reports Share Transactions

Garmin director Jonathan Burrell reported the acquisition and disposal of shares, including those held indirectly through trusts and LLCs, on December 2, 2024.

Summary

• Jonathan Burrell, a director at Garmin Ltd, reported transactions involving the company's registered shares on December 2, 2024.
• The transactions include both the disposal and acquisition of shares, with 9,300 shares disposed of and 9,300 shares acquired.
• These transactions were conducted at a price of $0 per share, likely due to the nature of the transactions.
• Burrell's holdings are primarily indirect, through various trusts, including GRATs, CLATs, and LLCs.
• He also holds unvested restricted stock units (RSUs) that will vest on June 7, 2025.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing and does not contain any information that would indicate positive or negative sentiment. It is a neutral disclosure of transactions.

Industry Context

This is a standard SEC Form 4 filing, which is common for corporate insiders reporting changes in their beneficial ownership of company stock. It is a routine disclosure and does not indicate any specific industry trend.

Comparison to Industry Standards

• Form 4 filings are a standard practice for all publicly traded companies in the US, and Garmin's filings are consistent with this practice.
• The use of trusts such as GRATs and CLATs for estate planning and wealth management is common among high-net-worth individuals, including corporate directors.
• The reporting of unvested restricted stock units is also a standard practice for companies that use equity-based compensation.

Stakeholder Impact

• The transactions reported in this filing are unlikely to have a significant impact on stakeholders, as they are primarily related to internal transfers of shares by a director.

Key Dates

Keywords

Garmin, share transactions, insider trading, beneficial ownership, GRAT, CLAT, LLC, restricted stock units, director, Jonathan Burrell