Garmin Ltd (GRMN) director Jonathan Burrell details large share transfers to GRATs and trusts
Rhea-AI Filing Summary
Garmin Ltd director Jonathan Burrell filed a Form 4 reporting several transactions in Garmin Ltd (GRMN) shares. On 12/02/2025 and 12/03/2025, he reported code G transactions (gifts) of 10,150 and 1,450 registered shares at a reported price of $0, leaving 1,097,500 shares held indirectly by multiple grantor retained annuity trusts (GRATs) in which he has interests. On 12/04/2025, he reported a further code G gift of 445,000 registered shares at $0, resulting in 5,000,352 shares held indirectly by certain GRATs, and a separate code G disposition of 445,000 shares from a trust, leaving that trust with 25,000 shares.
Following these transactions, Burrell reports 9,351 shares beneficially owned directly, consisting of 8,493 registered shares and unvested RSUs that vest as to 858 shares on June 6, 2026. He also reports indirect holdings of 394,478 shares through LLCs and 1,447,766, 1,646,843, and 25,000 shares through various trusts, with multiple disclaimers that he only benefits to the extent of his pecuniary interests.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Registered Shares | 445,000 | $0.00 | -- |
| Gift | Registered Shares | 445,000 | $0.00 | -- |
| Gift | Registered Shares | 1,450 | $0.00 | -- |
| Gift | Registered Shares | 10,150 | $0.00 | -- |
| holding | Registered Shares | -- | -- | -- |
| holding | Registered Shares | -- | -- | -- |
| holding | Registered Shares | -- | -- | -- |
| holding | Registered Shares | -- | -- | -- |
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.
