334K Garmin (NASDAQ: GRMN) shares gifted through director-related trusts
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Garmin Ltd. director Jonathan Burrell reported indirect stock gifts rather than market sales. On February 25, 2026, entities associated with him made two bona fide gifts totaling 334,000 Registered Shares of Garmin, split into 167,000 shares from grantor retained annuity trusts (GRATs) and 167,000 shares from a trust.
After these gifts, the GRATs held 5,000,352 Registered Shares and the trust held 25,000 Registered Shares. Separate holding entries show Burrell with 9,351 Registered Shares directly, and additional indirect holdings of 1,497,500 shares by GRATs, 394,478 shares by LLCs, and 1,447,766 and 1,246,843 shares by trusts. Footnotes explain he is trustee or manager of these entities and disclaims beneficial ownership beyond his economic interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
334,000 shares gifted
Mixed
7 txns
Insider
BURRELL JONATHAN
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Registered Shares | 167,000 | $0.00 | -- |
| Gift | Registered Shares | 167,000 | $0.00 | -- |
| holding | Registered Shares | -- | -- | -- |
| holding | Registered Shares | -- | -- | -- |
| holding | Registered Shares | -- | -- | -- |
| holding | Registered Shares | -- | -- | -- |
| holding | Registered Shares | -- | -- | -- |
Holdings After Transaction:
Registered Shares — 5,000,352 shares (Indirect, By GRATs);
Registered Shares — 9,351 shares (Direct)
Footnotes (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. 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 interests therein. 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. 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. The reporting person is a co-trustee of a GRAT remainder trust established for his benefit. 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
What did Garmin (GRMN) director Jonathan Burrell report in this Form 4?
Jonathan Burrell reported indirect gift transfers of Garmin Registered Shares, not open-market trades. Entities linked to him made bona fide gifts totaling 334,000 shares, while he continues to hold additional direct and indirect Garmin equity positions through trusts, GRATs, and LLCs.
Were the Garmin (GRMN) Form 4 transactions buys or sells of stock?
The Form 4 shows dispositions via bona fide gifts, not purchases or sales. The transactions use code G, indicating gift transfers by trusts and GRATs associated with director Jonathan Burrell, with a reported price per share of $0.0000 for these transfers.
What Garmin (GRMN) holdings remain after the reported gifts?
Following the gifts, GRATs associated with Jonathan Burrell held 5,000,352 Registered Shares and a trust held 25,000 shares. Additional holdings include 9,351 shares directly, and indirect positions of 1,497,500, 394,478, 1,447,766, and 1,246,843 shares through GRATs, LLCs, and trusts.