[Form 4] GARMIN LTD Insider Trading Activity

Rhea-AI Filing Summary

Garmin Ltd. reported insider equity activity for Vice President of Consumer Sales & Marketing Susan Lyman. On December 15, 2025, 2,135 shares from previously granted restricted stock unit awards vested and were released to her, with 629 shares withheld to cover the resulting tax liability.

On the same date, she received a new grant of 1,746 restricted stock units that vest in three equal annual installments beginning on December 15, 2026. After these transactions, she beneficially owns 9,615 registered shares directly, which include 7,194 unvested shares from recent and prior restricted stock unit awards, plus 52.14 additional shares held indirectly through a 401(k) plan.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider LYMAN SUSAN

Role VP, Consumer Sales & Marketing

Type	Security	Shares	Price	Value
Tax Withholding	Registered Shares	629	$207.23	$130K
Grant/Award	Registered Shares	1,746	$0.00	--
holding	Registered Shares	--	--	--

Holdings After Transaction: Registered Shares — 7,869 shares (Direct); Registered Shares — 52.14 shares (Indirect, By 401(k) Plan)

Footnotes (1)

1. On December 15, 2025, 2,135 shares that were acquired pursuant to previously granted restricted stock unit awards vested and were released to the reporting person. Of those shares, 629 shares were withheld to pay the resulting tax liability. Includes (i) 5,448 unvested shares acquired pursuant to previously granted restricted stock unit awards and (ii) 66 shares acquired by the reporting person in June 2025 under the Garmin Ltd. Employee Stock Purchase Plan. On December 15, 2025 the reporting person received a grant of 1,746 restricted stock units, which vest in three equal annual installments, beginning on December 15, 2026. Includes 7,194 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^*

LYMAN SUSAN

(Last) (First) (Middle)

1200 E. 151ST ST.

(Street)

OLATHE KS 66062

(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)
	VP, Consumer Sales & Marketing

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		629(1)	D	$207.23	7,869(2)	D
Registered Shares	12/15/2025		A		1,746(3)	A	$0	9,615(4)	D
Registered Shares								52.14	I	By 401(k) Plan

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, 2,135 shares that were acquired pursuant to previously granted restricted stock unit awards vested and were released to the reporting person. Of those shares, 629 shares were withheld to pay the resulting tax liability.

2. Includes (i) 5,448 unvested shares acquired pursuant to previously granted restricted stock unit awards and (ii) 66 shares acquired by the reporting person in June 2025 under the Garmin Ltd. Employee Stock Purchase Plan.

3. On December 15, 2025 the reporting person received a grant of 1,746 restricted stock units, which vest in three equal annual installments, beginning on December 15, 2026.

4. Includes 7,194 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 Susan Lyman	12/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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