Form 4: Garmin VP Danny J. Bartel Reports Changes in Beneficial Ownership

Danny J. Bartel, VP of Global Consumer Sales at Garmin Ltd, reports acquisition and disposal of registered shares, including those related to restricted stock units and dividend reinvestment.

Summary

• Danny J. Bartel, VP of Global Consumer Sales at Garmin Ltd, filed a Form 4 detailing changes in beneficial ownership.
• On February 19, 2025, Bartel acquired 4,038 registered shares related to a restricted stock unit award granted in February 2024, with performance-based vesting conditions satisfied and now subject to time-based vesting.
• The acquisition price was $0.
• Bartel also disposed of 4,038 registered shares on the same date.
• Following the reported transactions, Bartel directly owns 109,687 registered shares, including 10,635 unvested shares from restricted stock unit awards.
• Bartel also indirectly owns 116,604 registered shares through a 401(k) plan, which includes 494 shares acquired via a dividend reinvestment plan.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing. The vesting of restricted stock units is generally a positive sign, but the document itself is neutral.

Positives

• The satisfaction of performance-based vesting conditions on the restricted stock units indicates positive performance metrics were likely met.

Future Outlook

The restricted stock units will vest in three equal annual installments beginning on February 25, 2025.

Industry Context

Form 4 filings are standard practice for company insiders to report changes in their ownership of company stock, providing transparency to investors.

Stakeholder Impact

• The vesting of restricted stock units aligns management's interests with those of shareholders.

Key Dates

Keywords

Form 4, Beneficial Ownership, Garmin, GRMN, Restricted Stock Units, Dividend Reinvestment, Insider Trading