BURRELL JONATHAN 4
4 · GARMIN LTD · Filed May 5, 2026
Research Summary
AI-generated summary of this filing
Garmin Director Jonathan Burrell Gifts 587,934 Shares
What Happened
Jonathan Burrell, a director of Garmin Ltd. (GRMN), reported multiple gift transactions on May 4, 2026. The Form 4 shows gifts disposing of 9,800 shares and 433,600 shares (total disposed = 443,400 shares) and a separate gift acquisition of 144,534 shares. All transactions are recorded at $0.00 per share because they were gifts (no cash consideration). Net, Mr. Burrell transferred out 298,866 more shares than he received on that date.
Key Details
- Transaction date: 2026-05-04; Form filed: 2026-05-05 (timely filing).
- Transaction type/code: G (gift). Price per share reported: $0.00 (gifts).
- Shares reported in the transactions: disposed 9,800 and 433,600; acquired 144,534 (total movement 587,934 shares).
- Filing does not state the total shares owned by Mr. Burrell after these transfers.
- Notable footnotes:
- F1: Some reported holdings include 8,493 registered shares and unvested RSUs, with 858 RSUs vesting on June 6, 2026.
- F2–F6: Various trust-related notes—Mr. Burrell is a co-trustee/manager of several GRATs and trusts and disclaims beneficial ownership of certain reported securities except to the extent of any pecuniary interest.
Context
Gifts are typically estate-planning or family transfers and are not the same signal as open-market purchases or sales; they do not necessarily reflect the insider’s view of the company’s prospects. Because these were gifts recorded at $0, there is no cash value reported on the Form 4.
Insider Transaction Report
- Gift
Registered Shares
[F2]2026-05-04−9,800→ 1,449,700 total(indirect: By GRATs) - Gift
Registered Shares
[F3]2026-05-04−433,600→ 4,342,752 total(indirect: By GRATs) - Gift
Registered Shares
[F5]2026-05-04+144,534→ 1,592,300 total(indirect: By Trust)
- 9,351
Registered Shares
[F1] - 394,478(indirect: By LLC)
Registered Shares
[F4] - 249,000(indirect: By Trust)
Registered Shares
[F6] - 1,326,443(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.