BURRELL JONATHAN 4
4 · GARMIN LTD · Filed Jun 8, 2026
Research Summary
AI-generated summary of this filing
Garmin Director Jonathan Burrell Receives RSU Award; 215 Shares Withheld
What Happened
Jonathan Burrell, a director of Garmin Ltd. (GRMN), was granted 753 restricted stock units (RSUs) on 2026-06-05 (award price $0.00). Separately, on 2026-06-06, 215 shares were withheld to satisfy a tax liability related to a prior RSU release; the withholding was valued at $236.57 per share, totaling $50,863. The new 753 RSUs vest on June 5, 2027.
Key Details
- Transactions: 2026-06-05 — Grant of 753 RSUs (code A) at $0.00; 2026-06-06 — 215 shares withheld for tax (code F) at $236.57, proceeds ~$50,863.
- Shares after transactions: filing notes inclusion of 753 unvested RSUs from the new grant plus 858 previously granted RSUs (total 1,611 unvested RSUs referenced in footnotes).
- Notable footnotes: the 753 RSUs vest 6/5/2027 (F1); the 215 withheld shares came from an earlier 858-share RSU release (award dated 6/6/2025) to cover taxes (F2–F4). Several trust-related disclaimers apply (F5–F8) — Burrell disclaims beneficial ownership except for his pecuniary interest in certain GRAT/LLC structures.
- Filing timeliness: filing shows transactionTimeliness = 'L' (filed 2026-06-08 for a 6/5–6/6 transaction), indicating a late Form 4 filing.
Context
The grant is director compensation (RSUs) and vests in one year; the 215-share disposition was tax withholding, not an open-market sale, and is routine. Such awards increase an insider’s stake over time if they vest; tax-withholding sales are administrative and do not necessarily indicate the director’s view on the stock.
Insider Transaction Report
- Award
Registered Shares
[F1][F2]2026-06-05+753→ 10,104 total - Tax Payment
Registered Shares
[F3][F4]2026-06-06$236.57/sh−215$50,863→ 9,889 total
- 1,733,300(indirect: By GRATs)
Registered Shares
[F5] - 4,591,752(indirect: By GRATs)
Registered Shares
[F6] - 394,478(indirect: By LLC)
Registered Shares
[F7] - 1,592,300(indirect: By Trust)
Registered Shares
[F8] - 1,034,043(indirect: By Trust)
Registered Shares
Footnotes (8)
- [F1]Shares acquired pursuant to a grant of restricted stock units under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan. The award vests on June 5, 2027.
- [F2]Includes the 753 unvested shares acquired pursuant to the grant of restricted stock units described in Footnote 1 and 858 unvested shares acquired pursuant to a previously granted restricted stock unit award.
- [F3]858 shares that were acquired pursuant to an award of restricted stock units on June 6, 2025 and were released to the reporting person. Of these 858 shares, 215 shares were withheld to pay a resulting tax liability.
- [F4]Includes the 753 unvested shares acquired pursuant to the grant of restricted stock units described in Footnote 1.
- [F5]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.
- [F6]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.
- [F7]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.
- [F8]The reporting person is a co-trustee of a GRAT remainder trust established for his benefit.