Garmin Ltd insider reports RSU vesting and new 999-share grant

Garmin Ltd reported an insider equity transaction by its VP, Human Resources.

Rhea-AI Filing Summary

Garmin Ltd reported an insider equity transaction by its VP, Human Resources. On December 15, 2025, 1,305 shares acquired under previously granted restricted stock unit awards vested and were released to the officer, and 581 of those shares were withheld to pay the resulting tax liability at a price of $207.23.

The officer also received a new grant of 999 restricted stock units on December 15, 2025, which are scheduled to vest in three equal annual installments beginning on December 15, 2026. After these transactions, the officer beneficially owns 4,965 registered shares, including unvested shares from the new and prior restricted stock unit awards.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider MINARD LAURIE A

Role VP, Human Resources

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Registered Shares	581	$207.23	$120K
Grant/Award	Registered Shares	999	$0.00	$0.00

Holdings After Transaction: Registered Shares — 4,965 shares (Direct)

Footnotes (4)

1. F1. On December 15, 2025, 1,305 shares that were acquired pursuant to previously granted restricted stock unit awards vested and were released to the reporting person. Of those shares, 581 shares were withheld to pay the resulting tax liability.
2. F2. Includes 3,186 unvested shares acquired pursuant to previously granted restricted stock unit awards.
3. F3. On December 15, 2025 the reporting person received a grant of 999 restricted stock units, which vest in three equal annual installments, beginning on December 15, 2026.
4. F4. Includes 4,185 unvested shares acquired pursuant to the December 15, 2025 restricted stock unit award and previously granted restricted stock unit awards.

FAQ

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What insider stock transaction did Garmin Ltd (GRMN) report in this Form 4?

An officer of Garmin Ltd who serves as VP, Human Resources reported that on December 15, 2025, 1,305 shares from previously granted restricted stock unit awards vested and were released, with 581 shares withheld to cover the resulting tax liability, and a new grant of 999 restricted stock units was received.

How many Garmin Ltd shares were withheld for taxes in the reported transaction?

On December 15, 2025, 581 shares of Garmin Ltd stock were withheld from the vesting of restricted stock units to pay the resulting tax liability at a price of $207.23.

What new restricted stock unit grant did the Garmin Ltd officer receive?

On December 15, 2025, the reporting officer received a grant of 999 restricted stock units, which vest in three equal annual installments beginning on December 15, 2026.

How many Garmin Ltd shares does the officer beneficially own after these transactions?

Following the reported transactions, the officer beneficially owns 4,965 registered shares of Garmin Ltd, which include unvested shares acquired through the December 15, 2025 restricted stock unit award and previously granted restricted stock unit awards.

What is the officer’s relationship to Garmin Ltd in this Form 4 filing?

The reporting person is an officer of Garmin Ltd, serving as VP, Human Resources, and the Form 4 is signed by Paul E. Cassat as attorney-in-fact for Laurie A. Minard.

Does this Garmin Ltd Form 4 report any derivative securities transactions?

The provided portion of the Form 4 includes an empty Table II for derivative securities, and the detailed transactions disclosed relate to registered shares and restricted stock unit awards.

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Accepted by SEC EDGAR 12/17/2025 - 07:00 PM EST Learn about SEC filing dates

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^*

MINARD LAURIE A

(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, Human Resources

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		581(1)	D	$207.23	3,966(2)	D
Registered Shares	12/15/2025		A		999(3)	A	$0	4,965(4)	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. On December 15, 2025, 1,305 shares that were acquired pursuant to previously granted restricted stock unit awards vested and were released to the reporting person. Of those shares, 581 shares were withheld to pay the resulting tax liability.

2. Includes 3,186 unvested shares acquired pursuant to previously granted restricted stock unit awards.

3. On December 15, 2025 the reporting person received a grant of 999 restricted stock units, which vest in three equal annual installments, beginning on December 15, 2026.

4. Includes 4,185 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 Laurie A. Minard	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.