Garmin SEC Filings

Garmin Ltd. director Jonathan Burrell reported several internal transfers of Garmin registered shares on 11/14/2025 on a Form 4. The transactions, coded "G" for gifts, show 200,000 shares added at $0 to grantor retained annuity trusts (GRATs) for which he is co-trustee, and 190,500 shares similarly added to other GRATs. Corresponding entries show 200,000 and 190,500 shares transferred out of a trust at $0, reflecting movement of shares among family trusts and GRATs.

After these transactions, Burrell reports beneficial ownership of Garmin shares through multiple GRATs, limited liability companies and trusts, as well as 8,493 registered shares held directly and unvested restricted stock units that can be settled only in registered shares, with 858 RSUs vesting on June 6, 2026. He repeatedly disclaims beneficial ownership of many of these indirect holdings except to the extent of his pecuniary interest.

Garmin Ltd. (GRMN) director Jonathan Burrell reported insider transactions on 11/06/2025 via a Form 4. The filing lists gift (Code G) transfers of 200,000 and 190,500 registered shares at $0.

Following the transactions, he holds 9,351 shares directly, which consist of 8,493 registered shares and unvested RSUs that vest as to 858 shares on June 6, 2026. Indirect holdings are reported across family entities, including 927,100 and 4,834,852 shares by GRATs, 394,478 shares by LLCs, and 1,447,766, 1,828,843, and 190,500 shares by trusts. The reporting person disclaims beneficial ownership of certain indirect holdings except to the extent of his pecuniary interest, as noted in the footnotes.

Garmin Ltd. (GRMN): Director insider transactions reported. Director Jonathan Burrell filed a Form 4 for activity on 11/04/2025. He reported gifts of Registered Shares at $0 per share, including 7,500 shares (indirect, by GRATs) and 196,700 shares (indirect, by GRATs). He also reported a 65,567-share gift received (indirect, by trust) at $0. Post-transaction indirect holdings are disclosed across multiple GRATs, trusts, and LLCs. Footnotes note unvested RSUs that vest as to 858 shares on June 6, 2026.

Garmin Ltd. filed its Q3 2025 report, showing higher sales and steady earnings. Net sales were $1.77 billion, up 12% year over year, with net income of $401.6 million and diluted EPS of $2.08. Operating income was $456.8 million and gross margin was 59%.

Fitness led segment sales at $601.0 million, followed by Outdoor $497.6 million, Marine $267.0 million, Aviation $240.4 million, and Auto OEM $164.8 million. The effective tax rate rose to 21.2% due to U.S. legislation affecting R&D cost capitalization. Year to date, net sales reached $5.12 billion and operating cash flow was $1.08 billion.

Cash, cash equivalents and marketable securities totaled approximately $3.9 billion. Inventories increased to $1.89 billion, reflecting strategic positioning. Shareholders approved a dividend of $0.90 per share per quarter in fiscal 2025 ($3.60 total). Under its 2024 repurchase program, the company bought 985 shares for $193.1 million, with $106.9 million remaining authorized.

Garmin Ltd. (GRMN) furnished a press release announcing financial results for the fiscal third quarter ended September 27, 2025. The company submitted the announcement under Item 2.02 of an 8‑K, with the release attached as Exhibit 99.1.

The information was furnished, not filed under the Exchange Act, which limits its applicability under Section 18 unless later expressly incorporated by reference. The filing also lists Exhibit 104 for the cover page formatted in Inline XBRL.

Garmin Ltd. (GRMN): Beneficial ownership update

Jonathan Burrell filed a Schedule 13G/A reporting beneficial ownership of 9,770,665 Registered Shares of Garmin Ltd., representing 5.08% of the class as of the stated event date. He reports sole voting and dispositive power over 8,007,466 shares and shared voting and dispositive power over 1,763,199 shares.

The position is held across multiple vehicles: 4,841,052 shares in grantor retained annuity trusts established by his mother (sole power); 381,000 shares in The Judith M. Burrell Revocable Trust (shared power); 2,028,843 shares in his revocable trust (sole power); 1,382,199 shares in a GRAT remainder trust (shared power with a co‑trustee); 394,478 shares in LLCs wholly owned by a GRAT remainder trust (sole power); 734,600 shares in GRATs he established (sole power); and 8,493 shares held directly, which may include RSUs that can settle in Registered Shares if vested or vesting within 60 days.

He certified the securities were not acquired to change or influence control.

Min H. Kao and Yu-Fan C. Kao jointly filed a Schedule 13G/A reporting shared beneficial ownership of 18,683,700 Registered Shares of Garmin Ltd, representing 9.71% of the class. The shares are held through trusts and the Kao Family Foundation: 6,242,981 shares in the M&F Trust, 11,950,619 shares in revocable trusts for their children, and 490,100 shares held by the Kao Family Foundation. Both filers report no sole voting or dispositive power and instead report shared voting and dispositive power over all reported shares. The filing includes a joint filing agreement as Exhibit 1.

Jonathan Burrell, a director of Garmin Ltd. (GRMN), reported multiple transactions on 09/12/2025 on Form 4. The filing shows dispositions including 9,351 registered shares (which consist of 8,493 registered shares and RSUs that vest as to 858 shares on June 6, 2026) and Code G transactions of 4,200 and 104,000 registered shares at a reported price of $0 (gifts). The report also lists acquisitions recorded as Code G of 4,200 and 104,000 registered shares at $0, allocated to trusts. The filing discloses substantial indirect holdings via GRATs, LLCs and trusts with amounts reported as 734,600, 4,841,052, 394,478, and 1,382,199 shares and additional indirect totals reflecting post-transaction positions (e.g., 2,028,843 and 381,000 shares). The reporting person disclaims beneficial ownership of certain securities except to the extent of pecuniary interest.

Garmin Ltd (GRMN) insider amendment reports a charitable gift and corrects a prior omission. The filing by Min H. Kao, Executive Chairman and director, amends a Form 4 initially filed 08/29/2025 to add registered shares inadvertently omitted. The amended disclosure shows a disposition of 25,200 registered shares on 08/29/2025 coded G(1) (gift to a charitable organization) at a reported price of $0. Following the reported transactions, Mr. Kao beneficially owns 11,950,619 shares indirectly and directly holds an additional 6,242,981 registered shares reported on the form. The amendment was signed by an attorney-in-fact on 09/02/2025.