BURRELL JONATHAN 4
4 · GARMIN LTD · Filed Mar 16, 2026
Research Summary
AI-generated summary of this filing
Garmin (GRMN) Director Jonathan Burrell Gifts Shares
What Happened Jonathan Burrell, a director of Garmin Ltd. (GRMN), reported a series of gift transfers on March 12–13, 2026. The Form 4 shows gifts totaling 593,000 shares acquired and 593,000 shares disposed (transactions reported at $0.00 per share), meaning these were non‑cash transfers between accounts/vehicles rather than open‑market buys or sales.
Key Details
- Transaction types: Gifts (code G) reported on 2026-03-12 and 2026-03-13. All reported prices are $0.00; total cash consideration $0.
- Shares moved: 330,000; 225,000; and 38,000 share transfers appear in both acquisition and disposition lines — 593,000 shares acquired and 593,000 shares disposed (net zero).
- Filing date vs. report period: Form filed 2026-03-16 covering transactions dated 2026-03-12 and 2026-03-13. The filing appears timely.
- Holdings/footnotes: Footnote F1 notes holdings include 8,493 registered shares plus RSUs (858 RSUs vesting June 6, 2026). Footnotes F2–F6 disclose multiple GRATs, trusts and managerial relationships and state Burrell disclaims beneficial ownership of certain trust-held securities except to the extent of pecuniary interest.
- No indication of 10b5-1 plan, option exercises, or tax‑withholding in this filing.
Context Gifts are transfers for estate/planning or family reasons and do not necessarily signal a view on the company's prospects; here the equal acquisitions and dispositions indicate internal reallocations among trusts/vehicles. Because the filing discloses trust remainder interests and disclaimers (F2–F6), beneficiaries and trustee roles explain why securities move between accounts even though reported as acquisitions and dispositions.
Insider Transaction Report
- Gift
Registered Shares
[F2]2026-03-13−38,000→ 1,459,500 total(indirect: By GRATs) - Gift
Registered Shares
[F3]2026-03-12+330,000→ 5,000,352 total(indirect: By GRATs) - Gift
Registered Shares
2026-03-13+38,000→ 1,326,443 total(indirect: By Trust) - Gift
Registered Shares
[F6]2026-03-12−330,000→ 25,000 total(indirect: By Trust) - Gift
Registered Shares
[F3]2026-03-13−225,000→ 4,776,352 total(indirect: By GRATs) - Gift
Registered Shares
[F6]2026-03-13+225,000→ 249,000 total(indirect: By Trust)
- 9,351
Registered Shares
[F1] - 394,478(indirect: By LLC)
Registered Shares
[F4] - 1,447,766(indirect: By Trust)
Registered Shares
[F5]
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.