Garmin (NASDAQ: GRMN) director gifts 1.78M shares via family trusts
Rhea-AI Filing Summary
GARMIN LTD (GRMN) director Jonathan Burrell reported multiple bona fide gift transactions in Registered Shares on August 17–18, 2026, involving grantor retained annuity trusts (GRATs) and family trusts. The filings cover 1,780,000 gifted shares across nine trust-related transfers, all at a reported price of $0.00 per share, reflecting non-sale gifts rather than market trades. The trusts and GRATs hold the shares, and Burrell disclaims beneficial ownership except to the extent of his pecuniary interests. After these transactions, he reports 9,889 securities held directly, consisting of 9,136 Registered Shares and unvested RSUs for 753 shares vesting June 5, 2027, plus 394,478 Registered Shares held indirectly through LLCs managed by him.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 225,200 shares
Net Sell
11 txns
Insider
BURRELL JONATHAN
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Registered Shares F2 | 45,600 | $0.00 | $0.00 |
| Gift | Registered Shares F3 | 393,000 | $0.00 | $0.00 |
| Gift | Registered Shares F3 | 269,400 | $0.00 | $0.00 |
| Gift | Registered Shares F5 | 89,800 | $0.00 | $0.00 |
| Gift | Registered Shares F6 | 393,000 | $0.00 | $0.00 |
| Gift | Registered Shares F2 | 41,000 | $0.00 | $0.00 |
| Gift | Registered Shares F3 | 253,600 | $0.00 | $0.00 |
| Gift | Registered Shares F6 | 253,600 | $0.00 | $0.00 |
| Gift | Registered Shares | 41,000 | $0.00 | $0.00 |
| holding | Registered Shares F1 | -- | -- | -- |
| holding | Registered Shares F4 | -- | -- | -- |
Holdings After Transaction:
Registered Shares — 3,943,752 shares (Indirect, By GRATs);
Registered Shares — 158,600 shares (Indirect, By trust);
Registered Shares — 9,889 shares (Direct);
Registered Shares — 394,478 shares (Indirect, By LLCs)
Footnotes (6)
- F1. Consists of (a) 9,136 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 753 shares on June 5, 2027.
- F2. 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.
- F3. The reporting person is a co-trustee of several 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.
- F4. 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.
- F5. The reporting person is a co-trustee of a GRAT remainder trust established for his benefit.
- F6. 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.
Key Figures
Total gifted shares: 1,780,000 shares
Number of gift transactions: 9
Direct holdings after transactions: 9,889 securities
+3 more
6 metrics
Total gifted shares
1,780,000 shares
GiftShares across nine bona fide gift transactions on August 17–18, 2026
Number of gift transactions
9
GiftCount in transaction summary, all coded G (bona fide gift)
Direct holdings after transactions
9,889 securities
Total securities held directly as of August 17, 2026
Direct Registered Shares component
9,136 Registered Shares
Portion of direct holdings excluding RSUs, per footnote F1
Unvested RSUs
753 shares
RSUs that vest on June 5, 2027 and settle in Registered Shares
Indirect LLC holdings
394,478 Registered Shares
Shares held indirectly through LLCs managed by the reporting person
Key Terms
grantor retained annuity trusts (GRATs), remainder interest, restricted stock units (RSUs), bona fide gift
4 terms
grantor retained annuity trusts (GRATs) financial
"The reporting person is a co-trustee of multiple grantor retained annuity trusts (GRATs)"
remainder interest financial
"his children hold the remainder interests therein"
restricted stock units (RSUs) financial
"unvested restricted stock units (RSUs) awarded to the reporting person"
Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.
bona fide gift financial
"transaction_code_description": "Bona fide gift""
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
FAQ
What did GRMN director Jonathan Burrell report in this Form 4?
Jonathan Burrell reported nine bona fide gift transactions totaling 1,780,000 Registered Shares of Garmin Ltd, all involving GRATs and family trusts, with no sale proceeds and indirect ownership structures described in detail.
Are the GRMN transactions open-market sales or purchases?
No. All report code G (bona fide gift) at a price of $0.00 per share, indicating non-market gifts between GRATs and trusts. There are no open-market purchases or sales reported in this Form 4.
When do Jonathan Burrell’s GRMN RSUs vest?
Unvested RSUs awarded under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan for 753 shares vest on June 5, 2027. These RSUs can be settled only in Registered Shares, adding to his direct equity exposure upon vesting.
AI-generated analysis. How Rhea-AI works. Not financial advice.
