LYMAN SUSAN 4

What Happened

• Susan Lyman, VP of Consumer Sales & Marketing at Garmin, had 3,287 restricted stock units (RSUs) vest on 2026-02-25. Of those, 988 shares were withheld to cover taxes (value reported $248,966 at $251.99/share). On 2026-02-26 she sold 2,814 shares (weighted avg $251.04) for $706,434 and 991 shares (weighted avg $252.09) for $249,825 in open-market transactions. Total open-market proceeds were about $956,259; total shares disposed (including tax withholding) were 4,793. These transactions are dispositions (sales) tied to RSU vesting and tax withholding, not new purchases.

Key Details

• Transaction dates: 2026-02-25 (RSU vesting and 988-share tax withholding) and 2026-02-26 (open-market sales).
• Prices and values: 988 shares withheld at $251.99 ($248,966); 2,814 shares sold at weighted avg $251.04 ($706,434) — trades ranged $250.72–$251.72 (F3); 991 shares sold at weighted avg $252.09 ($249,825) — trades ranged $251.87–$252.74 (F4).
• Shares after transaction: filing notes 6,502 unvested RSU shares remain (F2). The excerpt does not provide a full total of all shares beneficially owned after these transactions.
• Footnotes: F1 explains the 3,287 vested RSUs and the 988-share tax withholding; F3/F4 note multiple trades and give price ranges; the reporter offers to provide per-trade details on request.
• Timeliness: Form 4 was filed 2026-02-27 for transactions on 2/25 and 2/26 — a timely filing under the two-business-day rule.

Context

• This is a common pattern when RSUs vest: some shares are withheld to cover taxes and other vested shares are sold in the open market. Such transactions are typically routine and reflect vesting and liquidity needs rather than a clear signal of management sentiment.