Form 4: Garmin Director Jonathan Burrell Reports Stock Transfers via Trusts
SEC Form 4 Filing
Director Jonathan Burrell reports transactions involving Garmin Ltd. shares through various trusts, including GRATs and CLATs, while disclaiming beneficial ownership except for pecuniary interests.
Summary
- Jonathan Burrell, a director at Garmin Ltd., filed a Form 4 detailing changes in beneficial ownership of company stock.
- The report indicates transactions on February 26 and 27, 2024, involving the transfer of Registered Shares.
- These transactions include both acquisitions and disposals of shares through various trusts, such as Grantor Retained Annuity Trusts (GRATs) and Charitable Lead Annuity Trusts (CLATs).
- Burrell disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.
- The transactions involved the transfer of 181,800 shares into a trust on February 26, 2024, and the disposal of 150,000 shares from a trust on February 27, 2024.
- Following these transactions, Burrell directly owns 8,052 Registered Shares and indirectly owns millions of shares through various trusts and LLCs.
Sentiment
Score: 5
Explanation: Neutral sentiment as the document is a regulatory filing detailing stock transactions, not indicative of company performance or future outlook.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company insiders. This filing indicates transactions related to trust management rather than direct market activity.
Key Dates
| Date | Description |
|---|---|
| 02/26/2024 | Transfer of 181,800 shares into a trust. |
| 02/27/2024 | Disposal of 150,000 shares from a trust. |
| 02/27/2024 | Date of signature for the Form 4 filing. |
| 06/09/2024 | Vesting date for 1,501 restricted stock units (RSUs). |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.