Form 4: Garmin Executive's Stock Activity: New RSU Grant & Vesting

Garmin's EVP of Aviation, Philip Straub, reported vesting of restricted stock units, tax-related share withholding, and a new RSU grant.

Summary

• Philip Straub, EVP, Managing Director Aviation at Garmin Ltd. (GRMN), reported changes in his beneficial ownership of company shares.
• On December 15, 2025, 5,904 shares from previously granted restricted stock unit (RSU) awards vested and were released.
• Of these vested shares, 2,620 shares were withheld to cover tax liabilities, at a price of $207.23 per share.
• Following the vesting and tax withholding, Straub's direct beneficial ownership was 94,074.5 shares, including 15,645 unvested shares.
• On the same date, Straub received a new grant of 4,740 restricted stock units.
• These newly granted RSUs will vest in three equal annual installments, commencing on December 15, 2026.
• After the new RSU grant, Straub's total direct beneficial ownership increased to 98,814.5 shares, which includes 20,385 unvested shares (from the new grant and previous awards).

Sentiment

Score: 6

Explanation: The executive received a new grant of restricted stock units, increasing their total beneficial ownership, which generally signals continued alignment with the company's future performance.

Positives

• Philip Straub received a new grant of 4,740 restricted stock units, indicating continued incentive and alignment with shareholder interests.
• Total beneficial ownership of Garmin shares for Philip Straub increased from 94,074.5 to 98,814.5 shares following the new RSU grant.

Negatives

• 2,620 shares were withheld to cover tax liabilities associated with the vesting of previously granted restricted stock units, which is a standard practice for equity compensation.

Future Outlook

The newly granted 4,740 restricted stock units will vest in three equal annual installments, beginning on December 15, 2026, indicating future equity compensation and continued retention of the executive.

Industry Context

This filing details a routine insider transaction related to executive compensation, which is a common practice across publicly traded companies to align management incentives with shareholder value. It does not provide broader industry trends.

Stakeholder Impact

• Shareholders: The increase in executive beneficial ownership through a new RSU grant aligns management incentives with shareholder interests, potentially fostering long-term value creation.

Next Steps

• The newly granted 4,740 restricted stock units will begin vesting in three equal annual installments starting December 15, 2026.

Key Dates

Keywords

Garmin, GRMN, Philip Straub, insider transaction, Form 4, restricted stock units, RSU, beneficial ownership, executive compensation, stock vesting, aviation