Form 4: Garmin Director Jonathan Burrell Reports Share Transfers via Grantor Retained Annuity Trusts

Director Jonathan Burrell reports transactions involving Garmin Ltd. shares, primarily related to transfers to and from grantor retained annuity trusts (GRATs).

Summary

• Jonathan Burrell, a director of Garmin Ltd., filed a Form 4 detailing changes in his beneficial ownership of company stock.
• The reported transactions involve the transfer of Registered Shares to and from various Grantor Retained Annuity Trusts (GRATs) and trusts where Burrell serves as a trustee or has a remainder interest.
• On May 12, 2025, Burrell transferred 210,000 Registered Shares out of a GRAT, resulting in a decrease in his indirectly held shares.
• On May 12, 2025, Burrell transferred 210,000 Registered Shares into a trust, resulting in an increase in his indirectly held shares.
• On May 13, 2025, Burrell transferred 210,000 Registered Shares into a GRAT, resulting in an increase in his indirectly held shares.
• On May 13, 2025, Burrell transferred 210,000 Registered Shares out of a trust, resulting in a decrease in his indirectly held shares.
• Burrell disclaims beneficial ownership of shares held by the GRATs, LLCs, and trusts, except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, and the transactions described are related to personal financial planning rather than company performance. Therefore, the sentiment is neutral.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The use of GRATs is a common estate planning technique.

Key Dates

Keywords

Form 4, Beneficial Ownership, Garmin Ltd, GRMN, Jonathan Burrell, Grantor Retained Annuity Trust, GRAT, Registered Shares, Director, Trust