Garmin (GRMN) director Jonathan Burrell reports 1.19M-share bona fide gifts
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Garmin Ltd. director Jonathan Burrell reported a series of bona fide gifts of Garmin Registered Shares. On March 12–13, 2026, entities associated with him, including multiple grantor retained annuity trusts (GRATs) and trusts, made gifts totaling 1,186,000 Registered Shares, all at a reported price of $0.00 per share, indicating non-market, no-cash transfers.
The shares are held indirectly through GRATs, trusts and LLCs where Burrell often serves as co‑trustee or manager and in many cases disclaims beneficial ownership beyond his pecuniary interest. He also continues to hold 9,351 Registered Shares directly, along with additional indirect holdings after these gifts.
Positive
- None.
Negative
- None.
Insider Trade Summary
1,186,000 shares gifted
Mixed
9 txns
Insider
BURRELL JONATHAN
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Registered Shares | 38,000 | $0.00 | -- |
| Gift | Registered Shares | 38,000 | $0.00 | -- |
| Gift | Registered Shares | 225,000 | $0.00 | -- |
| Gift | Registered Shares | 225,000 | $0.00 | -- |
| Gift | Registered Shares | 330,000 | $0.00 | -- |
| Gift | Registered Shares | 330,000 | $0.00 | -- |
| holding | Registered Shares | -- | -- | -- |
| holding | Registered Shares | -- | -- | -- |
| holding | Registered Shares | -- | -- | -- |
Holdings After Transaction:
Registered Shares — 1,459,500 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. 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.
FAQ
What did Garmin (GRMN) director Jonathan Burrell report in this Form 4?
Jonathan Burrell reported several bona fide gift transactions of Garmin Registered Shares. On March 12–13, 2026, entities associated with him, including GRATs and trusts, transferred a large block of shares at a reported price of $0.00 per share, indicating non-cash gifts.
Were these Garmin (GRMN) transactions open-market sales or non-cash gifts?
These transactions were non-cash gifts, not open-market sales. Each is coded as a bona fide gift (transaction code G) at $0.00 per share, meaning the shares were transferred without consideration, typically to beneficiaries of trusts or related estate-planning entities.
What does transaction code G mean in this Garmin (GRMN) Form 4?
Transaction code G designates a bona fide gift of securities. In this case, it indicates that the Garmin Registered Shares were transferred by GRATs and trusts associated with Jonathan Burrell as gifts, at a reported price of $0.00 per share, rather than being sold in the market.