Hartnett Joseph J 4
4 · GARMIN LTD · Filed Jun 9, 2026
Research Summary
AI-generated summary of this filing
Garmin (GRMN) Director Joseph Hartnett Receives RSUs, Sells 643 Shares
What Happened
Joseph J. Hartnett, a director of Garmin Ltd. (GRMN), was granted 753 restricted stock units (RSUs) on June 5, 2026 and, around the same time, disposed of shares tied to previously vested RSUs. On June 6, 2026, 215 shares were withheld to satisfy tax withholding obligations (withholding value $50,863 at $236.57/share). On June 9, 2026, Hartnett sold 643 shares in an open-market transaction for $169,476 at $263.57/share. The 753 RSUs granted on June 5, 2026 are unvested and vest on June 5, 2027.
Key Details
- Transaction dates and prices:
- 2026-06-05: Award of 753 RSUs (no purchase price; vesting date: 2027-06-05).
- 2026-06-06: 215 shares withheld for taxes at $236.57/share (disposed; $50,863).
- 2026-06-09: Open-market sale of 643 shares at $263.57/share (disposed; $169,476).
- How these relate to prior awards: 858 shares from a June 6, 2025 RSU award vested and were released; of those 858, 215 were withheld for taxes and 643 were sold.
- Shares owned after transactions: The newly granted 753 RSUs remain unvested (vesting 2027-06-05); the vested 858-share lot from 2025 was fully accounted for by withholding and sale.
- Filing timeliness: Form 4 was filed on 2026-06-09 — reported the transactions promptly.
Context
These entries combine an equity award (RSUs) and routine disposals tied to previously vested RSUs. The tax withholding (code F) is a standard administrative action; the open-market sale (code S) reflects disposal of vested shares rather than a stock purchase.
Insider Transaction Report
- Award
Registered Shares
[F1][F2]2026-06-05+753→ 22,135 total - Tax Payment
Registered Shares
[F3][F4]2026-06-06$236.57/sh−215$50,863→ 21,920 total - Sale
Registered Shares
[F4]2026-06-09$263.57/sh−643$169,476→ 21,277 total
Footnotes (4)
- [F1]Shares acquired pursuant to a grant of restricted stock units under the Garmin Ltd. 2011 Non-Employee Directors' Equity Incentive Plan. The award vests on June 5, 2027.
- [F2]Includes the 753 unvested shares acquired pursuant to the restricted stock unit award described in Footnote 1 and 858 shares acquired pursuant a previously granted restricted stock unit award.
- [F3]858 shares that were acquired pursuant to an award of restricted stock units on June 6, 2025 vested and were released to the reporting person. Of these 858 shares, 215 shares were withheld to pay a resulting tax liability.
- [F4]Includes the 753 unvested shares acquired pursuant to the restricted stock unit award described in Footnote 1.