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GARMIN LTD·4

May 18, 2:31 PM ET

BURRELL JONATHAN 4

Research Summary

AI-generated summary

Updated

Garmin (GRMN) Director Jonathan Burrell Gifts 270,000 Shares

What Happened

  • Jonathan Burrell, a director of Garmin Ltd. (GRMN), reported multiple gift (G) transactions: on May 15 he both disposed and acquired 88,000 shares (each at $0.00), and on May 18 he both acquired and disposed 182,000 shares (each at $0.00). All transactions are coded as gifts, so no cash changed hands; the filing shows $0 value for each leg.
  • The reported transactions total 270,000 shares acquired and 270,000 shares disposed, resulting in no net change in reported holdings from these transfers alone. Gifts like these typically reflect transfers among trusts or family accounts rather than market purchases or sales.

Key Details

  • Transaction dates and price: May 15, 2026 — Gift of 88,000 shares (acquired) and Gift of 88,000 shares (disposed) at $0.00; May 18, 2026 — Gift of 182,000 shares (acquired) and Gift of 182,000 shares (disposed) at $0.00.
  • Net change: 270,000 shares acquired and 270,000 shares disposed; net zero change from these reported transfers.
  • Shares owned after transaction: Not explicitly quantified in the transaction lines. Footnote F1 indicates holdings consist of 8,493 registered shares plus unvested RSUs (these RSUs can be settled only in registered shares, with 858 shares vesting on June 6, 2026).
  • Notable disclosures: Multiple footnotes (F2–F6) show Burrell acts as co-trustee/manager of various GRATs and trusts; he disclaims beneficial ownership of securities held in several trusts except to the extent of pecuniary interest. These notes imply the gifts involved trust/remainder transfers.
  • Timeliness: Form 4 was filed May 18, 2026 for transactions on May 15, 2026. This filing was timely (within the SEC’s two-business-day requirement).

Context

  • Gift transactions (code G) generally reflect estate planning or transfers among related accounts and do not necessarily signal the insider’s view of the company’s stock. Because Burrell disclaims beneficial ownership for several trust-held securities, these reports document legal transfers rather than open-market trading activity.