Form 4: Garmin Director Jonathan Burrell Reports Stock Transfers via Trusts and GRATs
SEC Form 4 Filing
Director Jonathan Burrell reports transactions involving Garmin Ltd. shares, primarily related to transfers to and from trusts and Grantor Retained Annuity Trusts (GRATs).
Summary
- On September 13, 2024, Jonathan Burrell, a director of Garmin Ltd., reported several transactions involving the company's registered shares.
- These transactions include gifts of shares to and from various trusts, including Grantor Retained Annuity Trusts (GRATs), Charitable Lead Annuity Trusts (CLATs), and limited liability companies (LLCs).
- Burrell directly owns 8,766 registered shares, including 7,676 shares and 1,090 unvested restricted stock units (RSUs) that vest on June 7, 2025.
- He also indirectly owns a significant number of shares through GRATs, CLATs, LLCs, and other trusts, totaling several million shares.
- Burrell disclaims beneficial ownership of shares held in these trusts, except to the extent of his pecuniary interest.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing, so the sentiment is neither positive nor negative.
Industry Context
This filing is a routine disclosure related to insider transactions and provides transparency to investors regarding the holdings and transactions of company directors.
Stakeholder Impact
- The transactions reported may be of interest to shareholders as they provide insight into the director's holdings and transactions.
Key Dates
| Date | Description |
|---|---|
| 09/13/2024 | Date of the transactions reported in the Form 4. |
| 09/16/2024 | Date of signature on the Form 4. |
| 06/07/2025 | Vesting date for 1,090 restricted stock units (RSUs) |
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