Desbois Patrick 4
4 · GARMIN LTD · Filed Feb 27, 2026
Research Summary
AI-generated summary of this filing
Garmin (GRMN) Co-COO Patrick Desbois Sells Shares
What Happened
Patrick Desbois, co-chief operating officer of Garmin Ltd. (GRMN), had 11,832 restricted stock units vest on Feb 25, 2026. Of those, 5,138 shares were withheld to satisfy tax withholding (reported as code F) at a weighted price of $251.99 for proceeds/value of $1,294,725. The remaining 6,694 vested shares were sold in open-market transactions on Feb 26, 2026 (reported as code S) for total proceeds of about $1,684,566 across multiple trades and price ranges. Combined value of the vested award and related sales is about $2.98 million. These were disposals (not purchases) and include sales executed under a Rule 10b5-1 trading plan.
Key Details
- Transaction dates: Feb 25–26, 2026; Form filed Feb 27, 2026.
- Tax withholding: 5,138 shares withheld at $251.99 = $1,294,725 (code F).
- Open-market sales: 3,110 shares @ $251.08 ($780,863); 3,220 @ $252.03 ($811,542); 364 @ $253.19 ($92,161). Total shares sold = 6,694 for ~$1,684,566 (codes S).
- Price ranges by batch (multiple trades; weighted averages reported): 250.475–251.44; 251.65–252.52; 252.94–253.48. Reporting person will provide per-trade detail upon request (per footnotes).
- Vesting: 11,832 shares vested; 5,138 withheld for taxes. Form notes 21,087 unvested RSUs remain included in reported holdings.
- Trading plan: Open-market sales executed pursuant to a Rule 10b5-1 plan adopted Aug 1, 2025.
- Transaction codes: F = tax withholding (cashless/withheld shares); S = open-market sale.
- Filing: Report filed Feb 27, 2026 covering the Feb 25–26 transactions; no late filing flag noted in the filing summary provided.
Context
This was largely a routine vesting and disposition event: RSUs vested, some shares were withheld to cover tax obligations and the remainder were sold under a pre-established 10b5-1 plan. Such transactions typically reflect tax-liability handling and planned selling rather than an ad hoc trading decision; they should be viewed as reporting of compensation vesting and planned disposals, not necessarily a signal about the executive’s view of Garmin’s stock.
Insider Transaction Report
- Tax Payment
Registered Shares
[F1][F2]2026-02-25$251.99/sh−5,138$1,294,725→ 65,234 total - Sale
Registered Shares
[F3][F4][F2]2026-02-26$251.08/sh−3,110$780,863→ 62,124 total - Sale
Registered Shares
[F3][F5][F2]2026-02-26$252.03/sh−3,220$811,542→ 58,904 total - Sale
Registered Shares
[F3][F6][F2]2026-02-26$253.19/sh−364$92,161→ 58,540 total
Footnotes (6)
- [F1]11,832 shares that were acquired by the reporting person pursuant to previously granted restricted stock unit awards vested and were paid to the reporting person. Of these shares, 5,138 shares were withheld to pay a resulting tax liability.
- [F2]Includes 21,087 unvested shares acquired pursuant to previously granted restricted stock unit awards.
- [F3]Pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 1, 2025.
- [F4]This transaction was executed in multiple trades at prices ranging from $250.475 to $251.44. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.
- [F5]This transaction was executed in multiple trades at prices ranging from $251.65 to $252.52. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.
- [F6]This transaction was executed in multiple trades at prices ranging from $252.94 to $253.48. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.