BURRELL JONATHAN 4
4 · GARMIN LTD · Filed May 6, 2026
Research Summary
AI-generated summary of this filing
Garmin (GRMN) Director Jonathan Burrell Gifts 400,000 Shares
What Happened
Jonathan Burrell, a director of Garmin Ltd. (GRMN), reported two gift (G) transactions dated May 5, 2026: one acquisition entry for 400,000 shares and one disposition entry for 400,000 shares. Both transactions show a price of $0.00 and total value of $0, indicating transfers by gift rather than cash purchases or open-market sales.
Key Details
- Transaction date: 2026-05-05 (reported on Form 4 filed 2026-05-06).
- Transaction type/code: Gift (G).
- Shares: 400,000 shares acquired (reported as gift) and 400,000 shares disposed (reported as gift).
- Price/Value: $0.00 per share; $0 total value for each reported leg.
- Shares owned after transaction: Reporting disclosure refers to (a) 8,493 registered shares and (b) unvested RSUs that can be settled only in registered shares (858 RSUs vesting June 6, 2026) — see footnote F1 for details.
- Beneficial ownership disclaimers: Multiple footnotes (F2–F6) note Burrell’s roles as co‑trustee/manager of various GRATs, trusts and LLCs and disclaimers of beneficial ownership except to the extent of his pecuniary interest.
- Timeliness: Filing was made the next day (filed 2026-05-06 for period 2026-05-05); no late filing flag indicated.
Context
Gifts are transfers that do not involve cash consideration and generally do not signal the same investment conviction as purchases. Because the filing includes trust/GRAT-related disclosures and disclaimers of beneficial ownership, these entries likely reflect estate or inter‑entity transfers rather than routine open‑market trading.
Insider Transaction Report
- Gift
Registered Shares
[F2]2026-05-05+400,000→ 1,849,700 total(indirect: By GRATs) - Gift
Registered Shares
2026-05-05−400,000→ 962,443 total(indirect: By Trust)
- 9,351
Registered Shares
[F1] - 4,342,752(indirect: By GRATs)
Registered Shares
[F3] - 394,478(indirect: By LLC)
Registered Shares
[F4] - 1,592,300(indirect: By Trust)
Registered Shares
[F5] - 249,000(indirect: By Trust)
Registered Shares
[F6]
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.