Garmin (GRMN) co-COO Desbois sells 6,694 shares in Form 4 filing

Rhea-AI Filing Summary

Garmin Ltd. co-COO Patrick Desbois reported multiple share transactions. On February 26, 2026, he executed three open-market sales of Garmin registered shares totaling 6,694 shares at weighted average prices ranging from $250.475 to $253.48, leaving 58,540 shares held directly afterward.

On February 25, 2026, 11,832 shares from previously granted restricted stock unit awards vested and were delivered, with 5,138 shares disposed of to cover the resulting tax liability. His direct holdings include 21,087 unvested shares from earlier restricted stock unit awards, and the open-market sales were conducted under a Rule 10b5-1 trading plan adopted on August 1, 2025.

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

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

X

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^*

Desbois Patrick

(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)
	co-COO

3. Date of Earliest Transaction (Month/Day/Year)
02/25/2026

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	02/25/2026		F		5,138(1)	D	$251.99	65,234(2)	D
Registered Shares	02/26/2026		S(3)		3,110	D	$251.0812(4)	62,124(2)	D
Registered Shares	02/26/2026		S(3)		3,220	D	$252.0318(5)	58,904(2)	D
Registered Shares	02/26/2026		S(3)		364	D	$253.1889(6)	58,540(2)	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. 11,832 shares that were acquired by the reporting person pursuant to previously granted restricted stock unit awards vested and were paid to the reporting person. Of these shares, 5,138 shares were withheld to pay a resulting tax liability.

2. Includes 21,087 unvested shares acquired pursuant to previously granted restricted stock unit awards.

3. Pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 1, 2025.

4. This transaction was executed in multiple trades at prices ranging from $250.475 to $251.44. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

5. This transaction was executed in multiple trades at prices ranging from $251.65 to $252.52. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

6. This transaction was executed in multiple trades at prices ranging from $252.94 to $253.48. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

	/s/ Paul E. Cassat, as attorney-in-fact for Patrick Desbois	02/27/2026
	** 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.

FAQ

What did Garmin (GRMN) co-COO Patrick Desbois report in this Form 4?

Garmin co-COO Patrick Desbois reported recent share sales and tax-related dispositions. He sold 6,694 registered shares in open-market transactions and also had restricted stock units vest, with some shares withheld to pay associated tax liabilities.

How many Garmin (GRMN) shares did Patrick Desbois sell and at what prices?

Patrick Desbois sold 6,694 Garmin registered shares in three open-market transactions. The weighted average sale prices ranged from $250.475 to $253.48, with each transaction executed in multiple trades within its stated price range on February 26, 2026.

How many Garmin (GRMN) shares does Patrick Desbois hold after these transactions?

After the reported transactions, Patrick Desbois directly holds 58,540 Garmin registered shares. This total includes 21,087 unvested shares that he acquired through previously granted restricted stock unit awards, which may vest according to their existing award terms.

Were any of Patrick Desbois’s Garmin (GRMN) transactions related to taxes?

Yes. When 11,832 shares from previously granted restricted stock unit awards vested, 5,138 of those shares were withheld. These withheld shares were used to pay the tax liability arising from the vesting event, rather than being sold in the open market.

Were Patrick Desbois’s Garmin (GRMN) share sales made under a trading plan?

The open-market sales were made under a Rule 10b5-1 trading plan adopted by Patrick Desbois on August 1, 2025. Such plans prearrange trade parameters, allowing transactions to occur automatically under specified conditions over time.

What type of Garmin (GRMN) securities are involved in Patrick Desbois’s Form 4?

All reported transactions involve Garmin registered shares. These include shares sold in open-market transactions, shares delivered upon vesting of restricted stock unit awards, and unvested shares that remain subject to existing restricted stock unit award terms.