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Garmin (NYSE: GRMN) EVP reports RSU vesting, tax withholding and grant

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Garmin Ltd. executive Matthew Munn, EVP and Managing Director – Auto OEM, reported equity transactions in company shares. On December 15, 2025, 3,140 shares from previously granted restricted stock unit (RSU) awards vested and were released to him, and 1,246 of those shares were withheld to cover tax liabilities at a price of $207.23 per share.

On the same date, he received a new grant of 2,493 RSUs, which will vest in three equal annual installments beginning on December 15, 2026. Following these transactions, he beneficially owns 12,697 registered shares of Garmin, which includes 10,623 unvested shares tied to RSU awards.

Positive

  • None.

Negative

  • None.
Insider Munn Matthew
Role EVP, Man. Director - Auto OEM
Type Security Shares Price Value
Tax Withholding Registered Shares 1,246 $207.23 $258K
Grant/Award Registered Shares 2,493 $207.23 $517K
Holdings After Transaction: Registered Shares — 10,204 shares (Direct)
Footnotes (1)
  1. On December 15, 2025, 3,140 shares that were acquired pursuant to previously granted restricted stock unit awards vested and were released to the reporting person. Of those shares, 1,246 shares were withheld to pay the resulting tax liability. Includes 8,130 unvested shares acquired pursuant to previously granted restricted stock unit awards. On December 15, 2025 the reporting person received a grant of 2,493 restricted stock units, which vest in three equal annual installments, beginning on December 15, 2026. Includes 10,623 unvested shares acquired pursuant to the December 15, 2025 restricted stock unit award and previously granted restricted stock unit awards.
Form 4 Insider Transactions: What Each Field Means →
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*
Munn Matthew
(Last) (First) (Middle)
28125 CABOT DRIVE
SUITE 120
(Street)
NOVI MI 48377
(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)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP, Man. Director - Auto OEM
3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025
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)
Code V Amount (A) or (D) Price
Registered Shares 12/15/2025 F 1,246(1) D $207.23 10,204(2) D
Registered Shares 12/15/2025 A 2,493(3) A $207.23 12,697(4) D
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. On December 15, 2025, 3,140 shares that were acquired pursuant to previously granted restricted stock unit awards vested and were released to the reporting person. Of those shares, 1,246 shares were withheld to pay the resulting tax liability.
2. Includes 8,130 unvested shares acquired pursuant to previously granted restricted stock unit awards.
3. On December 15, 2025 the reporting person received a grant of 2,493 restricted stock units, which vest in three equal annual installments, beginning on December 15, 2026.
4. Includes 10,623 unvested shares acquired pursuant to the December 15, 2025 restricted stock unit award and previously granted restricted stock unit awards.
/s/ Paul E. Cassat, as attorney-in-fact for Matthew Munn 12/17/2025
** 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

FAQ

What insider equity transactions did Garmin (GRMN) executive Matthew Munn report?

Matthew Munn, Garmin's EVP and Managing Director – Auto OEM, reported the vesting of restricted stock units, tax withholding via share retention, and a new grant of restricted stock units in Garmin shares.

How many Garmin RSU shares vested for Matthew Munn and how many were withheld for taxes?

On December 15, 2025, 3,140 shares from previously granted RSU awards vested and were released to Matthew Munn. Of these, 1,246 shares were withheld to pay the resulting tax liability at a price of $207.23 per share.

What new restricted stock units did Garmin grant to Matthew Munn?

On December 15, 2025, Matthew Munn received a grant of 2,493 restricted stock units. These RSUs vest in three equal annual installments, beginning on December 15, 2026.

How many Garmin shares does Matthew Munn beneficially own after these transactions?

After the reported transactions, Matthew Munn beneficially owns 12,697 registered shares of Garmin. This total includes 10,623 unvested shares acquired through the December 15, 2025 RSU award and earlier RSU awards.

What portion of Matthew Munn's Garmin holdings are still unvested restricted stock units?

Within Matthew Munn's total beneficial ownership of 12,697 registered shares, 10,623 shares are unvested shares that were acquired through restricted stock unit awards, including the December 15, 2025 grant and previously granted RSUs.