BURRELL JONATHAN 4
4 · GARMIN LTD · Filed Feb 23, 2026
Research Summary
AI-generated summary of this filing
Garmin (GRMN) Director Jonathan Burrell Gifts 167,000 Shares
What Happened
Jonathan Burrell, a director of Garmin Ltd. (GRMN), reported gift transactions on February 23, 2026. The filing shows two gift entries of 167,000 shares each (one “Disposed” and one “Acquired”), both at $0.00 per share (total reported value $0). The matching disposed and acquired entries indicate a transfer of shares between accounts or trust entities rather than an open‑market sale or purchase.
Key Details
- Transaction date: 2026-02-23. Price: $0.00 (code G = Gift).
- Shares reported: 167,000 shares disposed and 167,000 shares acquired (net economic sale/purchase not indicated).
- Shares owned after transaction: Not specified in the provided excerpt.
- Footnotes of note:
- F1: Some holdings include 8,493 registered shares and unvested RSUs (858 RSUs vesting June 6, 2026).
- F2–F6: Multiple footnotes state Burrell is a co‑trustee/manager of various GRATs, trusts and LLCs and disclaims beneficial ownership except to the extent of any pecuniary interest — indicating these moves involve trust/remainder interests.
- Filing timeliness: Reported with a 2026-02-23 period and filing date 2026-02-23 (appears timely).
Context
Gifts (code G) are transfers for which no cash is exchanged and generally do not directly signal the insider’s view of the stock price. The presence of matching disposed and acquired gift entries plus trust‑related footnotes suggests internal reallocations among trusts or family entities rather than a market transaction. Retail investors should view this as an ownership-structure change, not a conventional buy or sell.
Insider Transaction Report
- Gift
Registered Shares
[F3]2026-02-23−167,000→ 4,833,352 total(indirect: By GRATs) - Gift
Registered Shares
[F6]2026-02-23+167,000→ 192,000 total(indirect: By Trust)
- 9,351
Registered Shares
[F1] - 1,097,500(indirect: By GRATs)
Registered Shares
[F2] - 394,478(indirect: By LLC)
Registered Shares
[F4] - 1,447,766(indirect: By Trust)
Registered Shares
[F5] - 1,646,843(indirect: By Trust)
Registered Shares
Footnotes (6)
- [F1]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.
- [F2]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.
- [F3]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.
- [F4]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.
- [F5]The reporting person is a co-trustee of a GRAT remainder trust established for his benefit.
- [F6]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.