Munn Matthew 4

What Happened Matthew Munn, Executive Vice President and Managing Director — Auto OEM at Garmin Ltd. (GRMN), acquired 3,987 shares on 2026-02-18 as an award (reported as $0.00 per share). The shares were issued pursuant to a restricted stock unit (RSU) award originally granted in February 2025; performance-based vesting conditions for that award have been satisfied and the award is now subject only to time-based vesting.

Key Details

• Transaction date and type: 2026-02-18 — Award/Acquisition (code A); 3,987 shares @ $0.00 (no cash paid).
• Vesting: Award vests in three equal annual installments beginning February 25, 2026 (time-based vesting remains).
• Shares owned after transaction: Filing notes include 14,610 unvested shares (from this RSU and other previously granted RSUs) and 58 shares acquired under the Garmin Employee Stock Purchase Plan.
• Filing timeliness: Form 4 filed 2026-02-20 for the 2026-02-18 transaction — appears to be timely.

Context This was a compensation-related equity award (RSUs), not an open-market purchase or sale. Performance conditions tied to the 2025 grant were satisfied, converting the remaining condition to time-based vesting; this means the reported shares are still subject to future vesting and are not an immediate cash realization.