Garmin (GRMN) director gifts 40,000 shares via GRATs and trusts
Rhea-AI Filing Summary
Garmin Ltd director Jonathan Burrell reported several indirect transactions in Registered Shares, primarily classified as bona fide gifts. The filing shows gift transfers totaling 40,000 shares, made at a reported price of $0.00 per share, indicating non-market, no‑consideration dispositions.
The gifted shares were held indirectly through grantor retained annuity trusts (GRATs) and trusts where Burrell serves as co‑trustee, and he disclaims beneficial ownership beyond his pecuniary interests. After these transactions, he continues to report substantial indirect holdings in Registered Shares through GRATs, trusts, and LLCs, along with 8,493 directly reported shares plus unvested RSUs scheduled to vest as to 858 shares on June 6, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary
40,000 shares gifted
Mixed
7 txns
Insider
BURRELL JONATHAN
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Registered Shares | 8,800 | $0.00 | -- |
| Gift | Registered Shares | 15,600 | $0.00 | -- |
| Gift | Registered Shares | 15,600 | $0.00 | -- |
| holding | Registered Shares | -- | -- | -- |
| holding | Registered Shares | -- | -- | -- |
| holding | Registered Shares | -- | -- | -- |
| holding | Registered Shares | -- | -- | -- |
Holdings After Transaction:
Registered Shares — 1,733,300 shares (Indirect, By GRATs);
Registered Shares — 9,351 shares (Direct)
Footnotes (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.
Key Figures
Total gifted shares: 40,000 shares
Gift on May 27, 2026: 8,800 shares
Gifts on May 26, 2026 (trust): 15,600 shares
+5 more
8 metrics
Total gifted shares
40,000 shares
Bona fide gifts of Registered Shares reported in this Form 4
Gift on May 27, 2026
8,800 shares
Registered Shares gifted indirectly by GRATs at $0.00 per share
Gifts on May 26, 2026 (trust)
15,600 shares
Registered Shares gifted indirectly by trust at $0.00 per share
Gifts on May 26, 2026 (GRATs)
15,600 shares
Registered Shares gifted indirectly by GRATs at $0.00 per share
Indirect holdings by trust
1,592,300 shares
Total Registered Shares following transaction, held indirectly by trust
Indirect holdings by GRATs
1,733,300 shares
Total Registered Shares following May 27, 2026 transaction, by GRATs
Directly reported shares
8,493 shares
Registered Shares held directly, excluding unvested RSUs
RSUs vesting
858 shares
Unvested RSUs scheduled to vest on June 6, 2026
Key Terms
bona fide gift, grantor retained annuity trusts (GRATs), remainder interest, restricted stock units (RSUs), +1 more
5 terms
bona fide gift financial
"The transactions are coded as G with the description "Bona fide gift"."
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
grantor retained annuity trusts (GRATs) financial
"The reporting person is a co-trustee of multiple grantor retained annuity trusts (GRATs) established by him."
remainder interest financial
"His children hold the remainder interests therein, and he holds a remainder interest in other GRATs."
restricted stock units (RSUs) financial
"Unvested restricted stock units (RSUs) awarded under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan."
Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.
pecuniary interests financial
"The reporting person disclaims beneficial ownership except to the extent of his pecuniary interests therein."
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did Jonathan Burrell report for Garmin (GRMN)?
Jonathan Burrell reported several indirect transactions in Garmin Registered Shares, mainly classified as bona fide gifts. These non-market transfers involved shares held through grantor retained annuity trusts (GRATs) and trusts where he is co‑trustee, rather than open‑market purchases or sales.
Were Jonathan Burrell’s Garmin (GRMN) transactions open-market sales?
No, the disclosed Garmin transactions are coded as G for bona fide gifts, not open‑market sales. The reported price per share is $0.00 for each gift, indicating they were non‑cash transfers rather than sales executed through the market or brokers.
What role do GRATs and trusts play in Jonathan Burrell’s Garmin (GRMN) holdings?
Many of Burrell’s Garmin holdings are reported as indirect, held by grantor retained annuity trusts (GRATs), trusts, and LLCs. He is a co‑trustee or manager of these entities and disclaims beneficial ownership except for his pecuniary interests, meaning the economic benefit is partly allocated to other beneficiaries.