Form 4: Garmin VP Maxfield Reports RSU Vesting, Tax Withholding

Garmin's VP and General Counsel, Joshua H. Maxfield, reported the vesting of restricted stock units and subsequent tax withholding.

Summary

• Joshua H. Maxfield, VP, General Counsel of Garmin Ltd. (GRMN), reported a transaction on February 25, 2026.
• 2,710 shares that were acquired by Mr. Maxfield pursuant to previously granted restricted stock unit awards vested and were paid.
• Of these vested shares, 1,144 shares were withheld by the issuer to cover the resulting tax liability.
• The price per share for the withheld shares was $251.99.
• Following this transaction, Mr. Maxfield directly beneficially owns 16,121 registered shares, which includes 6,355 unvested shares.
• Additionally, Mr. Maxfield indirectly owns 530.1555 shares through a 401(k) Plan.
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, representing a routine compensation transaction for an executive and not indicative of significant operational or financial changes for Garmin.

Positives

• The vesting of restricted stock units represents a realization of previously granted executive compensation.
• The transaction was executed under a Rule 10b5-1 plan, indicating a pre-arranged, non-discretionary sale for tax purposes.

Negatives

• 1,144 shares were withheld to cover tax liabilities, reducing the net number of shares received by the reporting person.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that routine insider transactions like RSU vestings and tax withholdings are common across all industries for executive compensation and generally do not reflect specific industry trends or competitive dynamics.

Stakeholder Impact

• Shareholders: Minimal impact as this is a routine executive compensation event and tax withholding, not signaling a change in company fundamentals.

Key Dates

Keywords

Garmin, GRMN, Form 4, Insider Transaction, Restricted Stock Units, RSU Vesting, Executive Compensation, Tax Withholding, Joshua H. Maxfield, Corporate Governance