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GRMN Form 4: Jonathan Burrell files $0 gift transactions

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Garmin Ltd. (GRMN) director Jonathan Burrell reported insider transactions on 11/06/2025 via a Form 4. The filing lists gift (Code G) transfers of 200,000 and 190,500 registered shares at $0.

Following the transactions, he holds 9,351 shares directly, which consist of 8,493 registered shares and unvested RSUs that vest as to 858 shares on June 6, 2026. Indirect holdings are reported across family entities, including 927,100 and 4,834,852 shares by GRATs, 394,478 shares by LLCs, and 1,447,766, 1,828,843, and 190,500 shares by trusts. The reporting person disclaims beneficial ownership of certain indirect holdings except to the extent of his pecuniary interest, as noted in the footnotes.

Positive

  • None.

Negative

  • None.
Insider BURRELL JONATHAN
Role Director
Type Security Shares Price Value
Gift Registered Shares 200,000 $0.00 --
Gift Registered Shares 190,500 $0.00 --
Gift Registered Shares 200,000 $0.00 --
Gift Registered Shares 190,500 $0.00 --
holding Registered Shares -- -- --
holding Registered Shares -- -- --
holding Registered Shares -- -- --
Holdings After Transaction: Registered Shares — 927,100 shares (Indirect, By GRATs); Registered Shares — 9,351 shares (Direct)
Footnotes (1)
  1. Consists of (a) 8,493 Registered Shares and (b) unvested restricted stock units (RSUs) awarded to the reporting person under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan that can be settled only in Registered Shares, which RSUs vest as to 858 shares on June 6, 2026. The reporting person is a co-trustee of multiple grantor retained annuity trusts (GRATs) established by him, and his children hold the remainder interests therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interests therein. The reporting person is a co-trustee of several grantor retained annuity trusts (GRATs) established by his mother, and he holds a remainder interest therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. The reporting person is the manager of several limited liability companies that are wholly-owned by a GRAT remainder trust established for the reporting person's benefit. The reporting person is a co-trustee of a GRAT remainder trust established for his benefit. The reporting person is a co-trustee of his mother's revocable trust and his mother's attorney-in-fact and also holds a remainder interest in the securities held in such trust. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
BURRELL JONATHAN
(Last) (First) (Middle)
6300 WEST 143RD STREET
(Street)
OVERLAND PARK KS 66223
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
GARMIN LTD [ GRMN ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
11/06/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Registered Shares 9,351(1) D
Registered Shares 11/06/2025 G 200,000 A $0 927,100 I By GRATs(2)
Registered Shares 11/06/2025 G 190,500 A $0 4,834,852 I By GRATs(3)
Registered Shares 394,478 I By LLCs(4)
Registered Shares 1,447,766 I By trust(5)
Registered Shares 11/06/2025 G 200,000 D $0 1,828,843 I By trust
Registered Shares 11/06/2025 G 190,500 D $0 190,500 I By trust(6)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Consists of (a) 8,493 Registered Shares and (b) unvested restricted stock units (RSUs) awarded to the reporting person under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan that can be settled only in Registered Shares, which RSUs vest as to 858 shares on June 6, 2026.
2. The reporting person is a co-trustee of multiple grantor retained annuity trusts (GRATs) established by him, and his children hold the remainder interests therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interests therein.
3. The reporting person is a co-trustee of several grantor retained annuity trusts (GRATs) established by his mother, and he holds a remainder interest therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
4. The reporting person is the manager of several limited liability companies that are wholly-owned by a GRAT remainder trust established for the reporting person's benefit.
5. The reporting person is a co-trustee of a GRAT remainder trust established for his benefit.
6. The reporting person is a co-trustee of his mother's revocable trust and his mother's attorney-in-fact and also holds a remainder interest in the securities held in such trust. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
/s/Jonathan Burrell 11/06/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What did GRMN director Jonathan Burrell report on Form 4?

He reported insider gift (Code G) transactions of 200,000 and 190,500 registered shares on 11/06/2025 at $0.

How many GRMN shares does the reporting person hold directly after the transactions?

He holds 9,351 shares directly, including unvested RSUs vesting as to 858 shares on June 6, 2026.

What are the main indirect holdings reported by the GRMN director?

Indirect holdings include 927,100 and 4,834,852 shares by GRATs, 394,478 by LLCs, and 1,447,766, 1,828,843, and 190,500 by trusts.

What does transaction code G mean on a Form 4?

Code G indicates a gift of securities with no cash consideration.

What vesting detail is provided for the director’s RSUs?

RSUs can be settled only in registered shares and vest as to 858 shares on June 6, 2026.

Does the reporting person claim full ownership of the indirect shares?

No. He disclaims beneficial ownership of certain indirect holdings except to the extent of his pecuniary interest.