BURRELL JONATHAN 4

What Happened

• Jonathan Burrell, a director of Garmin Ltd. (GRMN), reported multiple gift transactions on 2026-05-08 moving a total of 870,000 shares among accounts/entities. Each transaction was reported as a gift (code G) at $0.00 per share. The entries include dispositions and acquisitions that offset one another, resulting in no net change in his reported beneficial ownership.

Key Details

• Transaction date: 2026-05-08; Form 4 filed: 2026-05-11.
• Reported movement: 92,000; 94,000; 94,000; 92,000; 249,000; 249,000 shares (total moved = 870,000). All were gifts at $0.00 per share.
• Net effect: No net increase or decrease in beneficial ownership (acquisitions and dispositions offset).
• Shares/position after transactions: Footnote F1 indicates holdings include 8,493 registered shares plus unvested RSUs (RSUs vesting 858 shares on June 6, 2026). Other footnotes (F2–F6) state many transfers involved GRATs, trusts and LLCs and that Burrell disclaims beneficial ownership except for any pecuniary interest.
• No cash proceeds involved; these appear to be estate/planning or internal transfers rather than open-market sales or purchases.
• Filing timing: Reported trades dated May 8 and filed May 11 (no explicit late-filing flag provided in this report).

Context

• Gifts/transfers (code G) generally reflect estate planning or intra-family/entity transfers and do not necessarily indicate the insider’s view on the company’s stock price. For retail investors, outright purchases by insiders tend to be more informative about confidence than gift transactions.