GARMIN LTD Insider Trading Activity

Garmin Ltd. (GRMN): Director insider transactions reported.

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Form Type

Rhea-AI Filing Summary

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.

Insider Trade Summary

269,767 shares gifted

Gift 7 txns

Insider BURRELL JONATHAN

Role Director

Type	Security	Shares	Price	Value
Gift	Registered Shares	7,500	$0.00	$0.00
Gift	Registered Shares	196,700	$0.00	$0.00
Gift	Registered Shares	65,567	$0.00	$0.00
holding	Registered Shares	--	--	--
holding	Registered Shares	--	--	--
holding	Registered Shares	--	--	--
holding	Registered Shares	--	--	--

Holdings After Transaction: Registered Shares — 4,644,352 shares (Indirect, By GRATs); Registered Shares — 3,857,609 shares (Indirect, By trust); Registered Shares — 9,351 shares (Direct); Registered Shares — 394,478 shares (Indirect, By LLCs)

Footnotes (6)

F1. Consists of (a) 8,493 Registered Shares and (b) unvested restricted stock units (RSUs) awarded to the reporting person under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan that can be settled only in Registered Shares, which RSUs vest as to 858 shares on June 6, 2026.
F2. The reporting person is a co-trustee of multiple grantor retained annuity trusts (GRATs) established by him, and his children hold the remainder interests therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F3. The reporting person is a co-trustee of several grantor retained annuity trusts (GRATs) established by his mother, and he holds a remainder interest therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F4. The reporting person is the manager of several limited liability companies that are wholly-owned by a GRAT remainder trust established for the reporting person's benefit.
F5. The reporting person is a co-trustee of a GRAT remainder trust established for his benefit.
F6. The reporting person is a co-trustee of his mother's revocable trust and his mother's attorney-in-fact and also holds a remainder interest in the securities held in such trust. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

FAQ

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What did Garmin (GRMN) disclose in this Form 4?

Director Jonathan Burrell reported gifts of Registered Shares on 11/04/2025, including 7,500 and 196,700 shares at $0, and a 65,567-share gift received into a trust.

What is the transaction code used and what does it mean?

Code G indicates a gift. The reported transactions were gifts at a price of $0 per share.

How are the shares held after the transactions?

Holdings are indirect through multiple entities, including GRATs, trusts, and LLCs, with amounts such as 727,100 (by GRATs), 4,644,352 (by GRATs), 1,447,766 (by trust), 2,028,843 (by trust), 381,000 (by trust), and 394,478 (by LLCs).

Did the filing mention any derivative securities?

No derivative transactions were listed in Table II.

Are there any RSUs noted for the reporting person?

Yes. Footnotes state RSUs vest as to 858 shares on June 6, 2026 under the Non-Employee Directors' Equity Incentive Plan.

Who is the reporting person’s relationship to Garmin (GRMN)?

He is a Director and filed individually (Form filed by one reporting person).

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Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 11/05/2025 - 10:00 AM EST

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

BURRELL JONATHAN

(Last)

(First)

(Middle)

6300 WEST 143RD STREET

(Street)

OVERLAND PARK

66223

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
GARMIN LTD [ GRMN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/04/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Registered Shares								9,351⁽¹⁾	D
Registered Shares	11/04/2025		G		7,500	D	$0	727,100	I	By GRATs⁽²⁾
Registered Shares	11/04/2025		G		196,700	D	$0	4,644,352	I	By GRATs⁽³⁾
Registered Shares								394,478	I	By LLCs⁽⁴⁾
Registered Shares	11/04/2025		G		65,567	A	$0	1,447,766	I	By trust⁽⁵⁾
Registered Shares								2,028,843	I	By trust
Registered Shares								381,000	I	By trust⁽⁶⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Consists of (a) 8,493 Registered Shares and (b) unvested restricted stock units (RSUs) awarded to the reporting person under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan that can be settled only in Registered Shares, which RSUs vest as to 858 shares on June 6, 2026.

2. The reporting person is a co-trustee of multiple grantor retained annuity trusts (GRATs) established by him, and his children hold the remainder interests therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

3. The reporting person is a co-trustee of several grantor retained annuity trusts (GRATs) established by his mother, and he holds a remainder interest therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

4. The reporting person is the manager of several limited liability companies that are wholly-owned by a GRAT remainder trust established for the reporting person's benefit.

5. The reporting person is a co-trustee of a GRAT remainder trust established for his benefit.

6. The reporting person is a co-trustee of his mother's revocable trust and his mother's attorney-in-fact and also holds a remainder interest in the securities held in such trust. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

	/s/Jonathan Burrell	11/05/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR