Straub Philip 4

What Happened
Philip Straub, Executive Vice President and Managing Director – Aviation at Garmin (GRMN), was granted 6,978 restricted stock units (RSUs) on 2026-02-18. The award was reported at a $0.00 acquisition price (typical for RSU grants). These RSUs were part of an award originally granted in February 2025 that had both performance and time-based vesting; the performance conditions have now been satisfied and the award will vest solely on a time basis in three equal annual installments beginning February 25, 2026.

Key Details

• Transaction date: 2026-02-18; reported on Form 4 filed 2026-02-20 (appears timely).
• Grant: 6,978 RSUs @ $0.00 (award grant; no cash purchase).
• Shares reported as included after the transaction: includes 27,363 unvested shares acquired pursuant to the RSU award described above and other previously granted RSUs (per filing footnote).
• Footnote summary: The RSUs were from a Feb 2025 award with performance- and time-based vesting; performance vesting satisfied, remaining vesting is time-based (three equal annual installments starting 2026-02-25).
• No 10b5-1 plan, cashless exercise, tax-withholding sale, or gift was reported for this transaction.

Context
This was a compensation award (RSUs), not a market buy or sell. Awards like this are common for executive pay and vest over time, so they do not by themselves indicate immediate insider buying or selling sentiment. Because the performance conditions were satisfied, the award is now simply subject to time-based vesting, which will convert to shares over the next three years if Straub remains eligible.