BURRELL JONATHAN 4
4 · GARMIN LTD · Filed Jun 12, 2026
Research Summary
AI-generated summary of this filing
Garmin (GRMN) Director Jonathan Burrell Records 322,000-Share Gift
What Happened Jonathan Burrell, a director of Garmin Ltd. (GRMN), reported a gift transaction on June 11, 2026. The Form 4 shows a gift disposition of 322,000 shares and a corresponding gift acquisition of 322,000 shares, each recorded at $0.00 per share (typical for intra-family or trust transfers). No cash changed hands in the reporting — this was a non‑market gift/transfer rather than a purchase or sale.
Key Details
- Transaction date: 2026-06-11 (reported on Form 4 filed 2026-06-12) — timely filing.
- Transaction type/code: G (Gift); 322,000 shares disposed and 322,000 shares acquired; price reported $0.00.
- Holdings/vesting: Footnote F1 notes holdings include 9,136 registered shares plus unvested RSUs that can only be settled in registered shares; 858 RSUs vest on June 5, 2027.
- Related-party/trust notes: Footnotes F2–F6 describe various trustee roles, GRATs, a revocable trust, and disclaimers of beneficial ownership except to the extent of pecuniary interest — indicating transfers involve family/trust arrangements.
- Filing timeliness: The report appears timely (transaction 6/11/2026; Form 4 filed 6/12/2026).
Context Gifts are transfers, often among family members or into/out of trusts, and do not necessarily indicate the insider’s view on the company’s stock. The multiple footnotes indicate this transaction involved grantor retained annuity trusts (GRATs) and other trust structures; the reporting person disclaims beneficial ownership in several instances except for pecuniary interests. For retail investors, purchases are typically more informative about insider sentiment than gifts or intra‑family transfers.
Insider Transaction Report
- Gift
Registered Shares
[F3]2026-06-11−322,000→ 4,269,752 total(indirect: By GRATs) - Gift
Registered Shares
[F6]2026-06-11+322,000→ 322,000 total(indirect: By Trust)
- 9,889
Registered Shares
[F1] - 1,733,300(indirect: By GRATs)
Registered Shares
[F2] - 394,478(indirect: By LLC)
Registered Shares
[F4] - 1,592,300(indirect: By Trust)
Registered Shares
[F5] - 1,034,043(indirect: By Trust)
Registered Shares
Footnotes (6)
- [F1]Consists of (a) 9,136 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 5, 2027.
- [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.