Form 4: Garmin EVP, Operations, Patrick Desbois Sells Shares Under 10b5-1 Plan

Patrick Desbois, EVP of Operations at Garmin Ltd., sold a total of 4,126 registered shares on June 4, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Patrick Desbois, the EVP of Operations at Garmin Ltd., sold shares of the company's stock on June 4, 2024.
• The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 5, 2024.
• A total of 3,459 shares were sold at a weighted average price of $163.45, with individual prices ranging from $162.72 to $163.71.
• An additional 667 shares were sold at a weighted average price of $163.87, with individual prices ranging from $163.74 to $164.00.
• Following the transactions, Desbois directly owns 58,412 shares, which includes 22,726 unvested shares acquired through restricted stock unit awards.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating routine stock sales by an executive. It doesn't convey any particularly positive or negative sentiment.

Industry Context

Executive stock sales are a common occurrence and are often related to personal financial planning. The use of a 10b5-1 plan indicates that these sales were pre-planned and not based on any inside information.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders due to the increased supply of shares in the market, but the effect is likely to be minimal given the relatively small number of shares sold.

Key Dates