BURRELL JONATHAN 4

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.