LYMAN SUSAN 4

What Happened Susan Lyman, Vice President of Consumer Sales & Marketing at Garmin Ltd. (GRMN), was granted 2,595 restricted stock units (RSUs) on February 18, 2026. The award was reported at $0.00 per share (standard for RSU grants) for a reported aggregate value of $0. The RSU award was originally granted in February 2025 with both performance- and time-based vesting; the performance conditions have been satisfied and the award now vests solely on a time basis in three equal annual installments beginning February 25, 2026.

Key Details

• Transaction date: 2026-02-18; Grant (code A); price reported: $0.00; total reported value: $0.
• Filing date: 2026-02-20 (filed within the typical 2-business-day Form 4 window).
• Shares beneficially owned after the transaction: 9,843 total — comprising 9,789 unvested RSU shares (including the award described above and other prior RSUs) and 54 shares acquired under the Garmin Employee Stock Purchase Plan (Footnote F2).
• Footnote F1: Performance-based vesting conditions tied to the February 2025 award have been satisfied; remaining vesting is time-based.
• Footnote F2: Ownership breakdown includes the unvested RSUs and ESPP shares noted above.

Context This was an RSU grant (compensation award), not an open-market purchase or sale. RSUs typically do not require an immediate cash outlay and only convert to owned shares if and when they vest — here over three years starting Feb 25, 2026. Such grants are common executive compensation and do not by themselves indicate an insider buying/selling signal.