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Garmin Ltd. (GRMN) discloses Maxfield share vesting and 1,995 RSUs

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

Rhea-AI Filing Summary

Garmin Ltd. vice president and general counsel Joshua H. Maxfield reported equity transactions involving company shares. On December 15, 2025, 1,740 shares acquired from previously granted restricted stock unit awards vested and were released to him, and 756 of those shares were withheld to pay the resulting tax liability at a price of $207.23 per share.

On the same date, he received a new grant of 1,995 restricted stock units at a price of $0, which vest in three equal annual installments beginning on December 15, 2026. After these transactions, he beneficially owned 14,813 registered shares directly and 527.84 registered shares indirectly through a 401(k) plan. These amounts include unvested shares from restricted stock unit awards, 57 shares acquired under the Garmin Ltd. Employee Stock Purchase Plan, and approximately 6 shares acquired through a dividend reinvestment plan.

Positive

  • None.

Negative

  • None.
Insider MAXFIELD JOSHUA H
Role VP, General Counsel
Type Security Shares Price Value
Tax Withholding Registered Shares 756 $207.23 $157K
Grant/Award Registered Shares 1,995 $0.00 --
holding Registered Shares -- -- --
Holdings After Transaction: Registered Shares — 12,818 shares (Direct); Registered Shares — 527.84 shares (Indirect, By 401(k) Plan)
Footnotes (1)
  1. On December 15, 2025, 1,740 shares that were acquired pursuant to previously granted restricted stock unit awards vested and were released to the reporting person. Of those shares, 756 shares were withheld to pay the resulting tax liability. Includes (i) 4,676 unvested shares acquired pursuant to previously granted restricted stock unit awards and (ii) 57 shares acquired by the reporting person in June 2025 under the Garmin Ltd. Employee Stock Purchase Plan. Includes approximately 6 shares acquired by the reporting person pursuant to a dividend reinvestment plan. On December 15, 2025 the reporting person received a grant of 1,995 restricted stock units, which vest in three equal annual installments, beginning on December 15, 2026. Includes 6,671 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*
MAXFIELD JOSHUA H
(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, General Counsel
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 756(1) D $207.23 12,818(2) D
Registered Shares 12/15/2025 A 1,995(4) A $0 14,813(5) D
Registered Shares 527.84(3) 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, 1,740 shares that were acquired pursuant to previously granted restricted stock unit awards vested and were released to the reporting person. Of those shares, 756 shares were withheld to pay the resulting tax liability.
2. Includes (i) 4,676 unvested shares acquired pursuant to previously granted restricted stock unit awards and (ii) 57 shares acquired by the reporting person in June 2025 under the Garmin Ltd. Employee Stock Purchase Plan.
3. Includes approximately 6 shares acquired by the reporting person pursuant to a dividend reinvestment plan.
4. On December 15, 2025 the reporting person received a grant of 1,995 restricted stock units, which vest in three equal annual installments, beginning on December 15, 2026.
5. Includes 6,671 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 Joshua H. Maxfield 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 stock transactions did Garmin (GRMN) report for Joshua H. Maxfield?

Garmin reported that Joshua H. Maxfield, its vice president and general counsel, had 1,740 shares from restricted stock units vest and be released on December 15, 2025, with 756 shares withheld to cover taxes, and received a new grant of 1,995 restricted stock units on the same date.

How many Garmin shares vested for Joshua H. Maxfield on December 15, 2025?

On December 15, 2025, 1,740 shares acquired pursuant to previously granted restricted stock unit awards vested and were released to Joshua H. Maxfield, of which 756 shares were withheld to pay the resulting tax liability.

What new restricted stock unit award did Joshua H. Maxfield receive from Garmin Ltd. (GRMN)?

On December 15, 2025, Joshua H. Maxfield received a grant of 1,995 restricted stock units, which are scheduled to vest in three equal annual installments, beginning on December 15, 2026.

How many Garmin shares does Joshua H. Maxfield beneficially own after the reported transactions?

Following the reported transactions, Joshua H. Maxfield beneficially owned 14,813 registered shares directly and 527.84 registered shares indirectly through a 401(k) plan, including unvested restricted stock unit awards, 57 shares acquired under the Garmin Ltd. Employee Stock Purchase Plan, and approximately 6 shares from a dividend reinvestment plan.

What is Joshua H. Maxfields role and relationship to Garmin Ltd. (GRMN)?

Joshua H. Maxfield is an officer of Garmin Ltd., serving as vice president and general counsel, and he files as a reporting person with a direct relationship to the issuer.

Is this Garmin Form 4 filed by one or multiple reporting persons?

The document indicates that it is a Form filed by one reporting person, rather than a joint filing by multiple reporting persons.