Boessen Douglas G. 4

What Happened

• Douglas G. Boessen, Garmin’s Chief Financial Officer and Treasurer, had 8,476 restricted stock units (RSUs) vest. To cover tax withholding, 3,732 shares were surrendered (value ~$940,427). Separately, Boessen sold 3,487 shares in open-market trades on Feb 26, 2026 for aggregate proceeds of about $877,540.
• Combined proceeds/consideration related to these transactions are roughly $1.82 million (withheld tax shares ~$940.4k + open-market sales ~$877.5k). These were sales/withholdings (not purchases).

Key Details

• Dates and actions:
  • 2026-02-25: 8,476 RSUs vested; 3,732 shares withheld to satisfy tax withholding (code F) at $251.99 each (withheld value $940,427).
  • 2026-02-26: Open-market sales (code S) of:
    • 1,412 shares @ $251.01 = $354,426 (weighted avg; trades ranged $250.64–$251.44 per F4)
    • 1,920 shares @ $252.01 = $483,859 (weighted avg; trades ranged $251.65–$252.405 per F5)
    • 155 shares @ $253.26 = $39,255 (weighted avg; trades ranged $252.95–$253.36 per F6)
• Total open-market sale proceeds: ~$877,540. Total disposed including tax withholding: ~$1,817,967.
• Shares after transactions (based on footnotes): 8,476 vested minus 3,732 withheld = 4,744 delivered; after selling 3,487, Boessen retained 1,257 vested shares. He also holds 16,021 unvested RSUs per footnote F2 (combined = 17,278 shares/RSUs shown in the filing).
• These sales were executed under a Rule 10b5-1 trading plan adopted March 3, 2025 (footnote F3), indicating pre‑scheduled sales.
• Filing: Form 4 covering transactions through Feb 25–26, 2026 was filed on Feb 27, 2026 (timely).

Context

• This was primarily RSU vesting with tax-withholding and follow-up open-market sales, not a purchase—so it’s routine compensation-related activity rather than a direct bullish purchase signal.
• The use of a 10b5-1 plan means the open-market sales were likely pre-arranged and not necessarily a contemporaneous statement about company prospects.
• For retail investors, note that awards vest and companies commonly withhold shares for taxes; sales tied to vesting are routine and don't alone indicate insider sentiment.