MINARD LAURIE A 4

What Happened

• Laurie A. Minard, Vice President, Human Resources at Garmin Ltd., was reported as receiving 1,596 restricted stock units (RSUs) on February 18, 2026. The reported acquisition price is $0.00, so there was no immediate cash outlay or sale proceeds. This is a grant/award transaction (not a buy or sell).

Key Details

• Transaction date: 2026-02-18; Form 4 filed: 2026-02-20 (filed timely).
• Amount: 1,596 RSUs; price per share reported: $0.00; no immediate cash value.
• Vesting: Per footnote, the RSUs were granted in February 2025, performance conditions have been satisfied, and the award now vests in three equal annual installments beginning February 25, 2026.
• Holdings noted in filing: includes 5,781 unvested shares acquired pursuant to the RSU award(s) described and 57 shares purchased under Garmin’s Employee Stock Purchase Plan (per footnote 2).
• No 10b5-1 plan, tax-withholding sale, or late filing was indicated in the report.

Context

• RSU grants are compensation awards that convert to actual shares as they vest; they are not an open-market purchase or sale and therefore don’t directly signal a trading decision. The key investor takeaway: this is a standard equity compensation event with time-based vesting now that performance conditions are met.