Munn Matthew 4
4 · GARMIN LTD · Filed Feb 27, 2026
Research Summary
AI-generated summary of this filing
Garmin (GRMN) EVP Matthew Munn Sells Shares After RSU Vesting
What Happened Matthew Munn, EVP and Managing Director – Auto OEM at Garmin Ltd. (GRMN), had 4,972 restricted stock units (RSUs) vest. Of those vested shares, 1,591 were withheld to satisfy tax liability (payment recorded at $251.99/share, $400,916). Separately, Munn sold 4,675 shares at a weighted average price of $250.90 ($1,172,956) and 600 shares at a weighted average price of $251.52 ($150,914) in open-market transactions on 2026-02-26. Total disposed in these reported transactions: 6,866 shares for roughly $1.725 million (with $1.32387M from open-market sales and $400.916K withheld).
Key Details
- Transaction types: F (tax withholding for RSU vest) and S (open-market sales).
- Dates: RSU withholding recorded 2026-02-25; open-market sales executed 2026-02-26; Form 4 filed 2026-02-27 (appears timely).
- Sale prices/ranges: reported weighted averages $250.90 and $251.52; underlying trade ranges were $250.49–$251.45 and $251.495–$251.62 (per filing footnotes F3/F4).
- Vesting/holdings note: Footnote F1 states 4,972 shares vested and 1,591 were withheld for taxes. Footnote F2 indicates the filing includes 9,638 unvested RSU shares in the reporting person's holdings.
- Filing timeliness: Form 4 filed the next day (2/27) — within the usual 2-business-day reporting window.
Context This filing reflects RSU vesting with shares withheld to cover tax obligations plus subsequent open-market sales. Withholding and post-vesting sales are common procedures to cover taxes or rebalance holdings and do not, by themselves, indicate the insider’s view of the company’s prospects. Purchases generally carry more signal for bullish intent; these transactions are disposals related to compensation and routine selling.
Insider Transaction Report
- Tax Payment
Registered Shares
[F1][F2]2026-02-25$251.99/sh−1,591$400,916→ 15,151 total - Sale
Registered Shares
[F3][F2]2026-02-26$250.90/sh−4,675$1,172,956→ 10,476 total - Sale
Registered Shares
[F4][F2]2026-02-26$251.52/sh−600$150,914→ 9,876 total
Footnotes (4)
- [F1]4,972 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, 1,591 shares were withheld to pay a resulting tax liability.
- [F2]Includes 9,638 unvested shares acquired pursuant to previously granted restricted stock unit awards.
- [F3]This transaction was executed in multiple trades at prices ranging from $250.49 to $251.45. 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.
- [F4]This transaction was executed in multiple trades at prices ranging from $251.495 to $251.62. 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.