MAXFIELD JOSHUA H 4

What Happened
Joshua H. Maxfield, Vice President and General Counsel of Garmin Ltd. (GRMN), was granted 2,394 restricted stock units (reported as an award, transaction code A) on 2026-02-18 at a $0.00 acquisition price. The award is a restricted stock unit (RSU) grant; no cash was paid. The filing shows the performance-based vesting conditions for the underlying award have been satisfied and the award is now subject only to time-based vesting.

Key Details

• Transaction date and price: 2026-02-18, 2,394 shares, $0.00 per share (award).
• Vesting: Footnote 1 — the award vests in three equal annual installments beginning Feb 25, 2026.
• Holdings noted in filing (per footnotes): includes 9,065 unvested shares from the RSU award described in Footnote 1 and other prior RSUs, 58 shares from the Garmin Employee Stock Purchase Plan (Dec 2025), and 2.3 shares from a dividend reinvestment plan.
• Filing date: 2026-02-20 for a 2026-02-18 transaction — appears to be filed within the standard Form 4 timing window (timely).
• Transaction type: award/grant (not a purchase or sale) — typically represents compensation, not a market bet.

Context
RSU grants like this are compensation and vest over time; they do not represent an immediate purchase or sale of stock. With the performance conditions already satisfied, these units will convert to actual shares as they vest on the stated schedule, which is important for understanding when Maxfield will actually receive transferable shares.