BURRELL JONATHAN 4

What Happened

• Jonathan Burrell, a director of Garmin Ltd. (GRMN), reported gift transactions on March 11, 2026. The Form 4 shows a gift disposition of 330,000 shares (price $0.00) and two gift acquisitions of 41,600 shares and 330,000 shares (both $0.00). All transactions are coded as gifts (G), meaning shares were transferred without cash payment. The net effect reported is an increase of 41,600 shares in Burrell’s holdings (371,600 acquired less 330,000 disposed), with no dollar value recorded on the filing.

Key Details

• Transaction date: March 11, 2026; Form 4 filed March 13, 2026 (timely filing).
• Prices: $0.00 for all reported transfers (gift transactions).
• Shares moved: 330,000 shares gifted away; 41,600 and 330,000 shares received by gift.
• Net change: +41,600 shares to Burrell’s reported holdings.
• Footnotes:
  • F1 indicates holdings include 8,493 registered shares plus unvested RSUs (858 of which vest June 6, 2026).
  • F2–F6 describe that many transfers involve grantor retained annuity trusts (GRATs), revocable trusts or LLCs; Burrell disclaims beneficial ownership of certain shares except to the extent of pecuniary interest.
• Filing timeliness: Filed within two business days of the transaction date (appears timely).

Context

• Gifts are transfers for estate-planning or family trust purposes and do not signal a straightforward buy/sell sentiment about the stock. There was no cash exchanged and no market trade price to value the transfers on the Form 4.
• The footnotes show the transfers involve trusts and remainder interests; such transfers often reflect estate/planning moves rather than investment decisions by the insider.