Form 4: Garmin Director Jonathan Burrell Reports Stock Transfers to Trusts

Director Jonathan Burrell reported the transfer of Garmin shares to various trusts, including GRATs and CLATs, while disclaiming beneficial ownership except to the extent of his pecuniary interest.

Summary

• Jonathan Burrell, a director of Garmin Ltd, filed a Form 4 detailing changes in his beneficial ownership of company stock.
• On March 18, 2024, Burrell transferred 45,600 Registered Shares to a direct holding and 15,200 Registered Shares to an indirect holding by trust.
• These transactions involved transfers to and from various trusts, including Grantor Retained Annuity Trusts (GRATs), Charitable Lead Annuity Trusts (CLATs), and limited liability companies (LLCs).
• Burrell disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.
• Following these transactions, Burrell directly owns 8,052 Registered Shares and indirectly owns a total of 9,920,168 Registered Shares through various trusts and LLCs.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates internal restructuring of assets by a company director.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership structure, but the director disclaims beneficial ownership except for his pecuniary interest.

Key Dates