Form 4: Garmin Executive Joshua H. Maxfield Reports Changes in Beneficial Ownership
SEC Form 4 Filing
VP, General Counsel of Garmin Ltd, Joshua H. Maxfield, reports the acquisition and disposal of registered shares due to vesting of restricted stock units and subsequent tax liability coverage.
Summary
- Joshua H. Maxfield, VP, General Counsel of Garmin Ltd, filed a Form 4 to report changes in beneficial ownership.
- On February 25, 2025, 1,912 shares vested from previously granted restricted stock unit awards and were paid to the reporting person.
- 760 shares were withheld to cover the resulting tax liability at a price of $226.04 per share.
- Following the transaction, Maxfield directly owns 13,517 registered shares and indirectly owns 521.8 registered shares through a 401(k) plan.
- The reported holdings include 6,416 unvested shares acquired through previously granted restricted stock unit awards.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive as it reflects standard executive compensation practices and insider ownership transparency.
Positives
- The vesting of restricted stock units indicates a form of compensation and alignment of interests between the executive and the company's performance.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- Shareholders are informed about changes in insider ownership, which can influence investor confidence.
Key Dates
| Date | Description |
|---|---|
| 02/25/2025 | Date of transaction: vesting of restricted stock units and withholding of shares for tax liability. |
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