Form 4: Garmin Executive Susan Lyman Reports Acquisition and Disposal of Registered Shares
SEC Form 4
VP of Global Consumer Marketing at Garmin, Susan Lyman, reports acquiring shares through restricted stock units and disposing of shares through a 401(k) plan.
Summary
- Susan Lyman, VP of Global Consumer Marketing at Garmin Ltd, filed a Form 4 detailing changes in beneficial ownership.
- On February 19, 2025, she acquired 3,702 registered shares related to a restricted stock unit (RSU) award at a price of $0.
- The RSU award was granted in February 2024 and had both performance-based and time-based vesting conditions.
- The performance-based conditions have been met, and the award is now subject to time-based vesting, with equal annual installments starting February 25, 2025.
- Also on February 19, 2025, she disposed of registered shares at a price of $52.14 through a 401(k) plan.
- Following these transactions, Lyman beneficially owns 11,996 registered shares, including unvested shares from previous RSU awards and shares acquired through the Employee Stock Purchase Plan.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation. The vesting of RSUs suggests the achievement of performance goals, which is mildly positive.
Positives
- The vesting of restricted stock units indicates that performance goals were met, which is a positive sign for the company's performance.
Future Outlook
The award vests in three equal annual installments beginning on February 25, 2025.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions. They are closely watched by investors to gauge management's sentiment and confidence in the company's future prospects.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| February 2024 | Date of the restricted stock units award grant. |
| December 2024 | Shares acquired under the Garmin Ltd. Employee Stock Purchase Plan. |
| February 19, 2025 | Date of the reported transaction: acquisition of shares via RSU and disposal via 401(k). |
| February 21, 2025 | Date of the form filing. |
| February 25, 2025 | First vesting date of the restricted stock units award. |
Keywords
Form 4, Beneficial Ownership, Restricted Stock Units, Garmin, GRMN, Susan Lyman, Vesting, 401(k), Employee Stock Purchase Plan
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