Garmin director Jonathan Burrell gifts 870K shares
Garmin Ltd. director Jonathan Burrell reported a series of bona fide gifts totaling 870,000 Registered Shares on May 8, 2026.
Rhea-AI Filing Summary
Garmin Ltd. director Jonathan Burrell reported a series of bona fide gifts totaling 870,000 Registered Shares on May 8, 2026. The transactions were coded “G” and described as gift transfers, meaning they were not open‑market sales or purchases.
The gifts were made through multiple entities, including trusts, grantor retained annuity trusts (GRATs) and LLCs associated with Burrell. After these transfers, Form 4 entries show large remaining indirect positions, including 4,497,752 Registered Shares held by GRATs and 1,018,443 Registered Shares held by a trust. Footnotes note that Burrell serves as trustee or manager of these entities and generally disclaims beneficial ownership except to the extent of his pecuniary interests.
Positive
- None.
Negative
- None.
Insider Trade Summary
870,000 shares gifted
Gift
9 txns
Insider
BURRELL JONATHAN
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Registered Shares | 92,000 | $0.00 | $0.00 |
| Gift | Registered Shares | 94,000 | $0.00 | $0.00 |
| Gift | Registered Shares | 94,000 | $0.00 | $0.00 |
| Gift | Registered Shares | 92,000 | $0.00 | $0.00 |
| Gift | Registered Shares | 249,000 | $0.00 | $0.00 |
| Gift | Registered Shares | 249,000 | $0.00 | $0.00 |
| holding | Registered Shares | -- | -- | -- |
| holding | Registered Shares | -- | -- | -- |
| holding | Registered Shares | -- | -- | -- |
Holdings After Transaction:
Registered Shares — 4,497,752 shares (Indirect, By GRATs);
Registered Shares — 1,686,300 shares (Indirect, By trust);
Registered Shares — 9,351 shares (Direct);
Registered Shares — 394,478 shares (Indirect, By LLCs)
Footnotes (6)
- F1. 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.
- 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 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.
- 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 shares gifted: 870,000 Registered Shares
Individual gift sizes: 249,000; 249,000; 92,000; 94,000; 94,000; 92,000 shares
GRATs holding after gifts: 4,497,752 Registered Shares
+5 more
8 metrics
Total shares gifted
870,000 Registered Shares
Bona fide gifts on May 8, 2026
Individual gift sizes
249,000; 249,000; 92,000; 94,000; 94,000; 92,000 shares
Six separate G-code gift transactions
GRATs holding after gifts
4,497,752 Registered Shares
Indirect ownership by GRATs following a gift
Trust holding after gifts
1,018,443 Registered Shares
Indirect ownership by trust following a gift
Indirect trust holding (other)
1,592,300 Registered Shares
Indirect holding by trust as of May 8, 2026
Indirect LLC holdings
394,478 Registered Shares
Indirect ownership by LLCs as of May 8, 2026
Direct holding
9,351 Registered Shares
Direct ownership as reported on May 8, 2026
RSUs vesting
858 shares
RSUs vesting on June 6, 2026 under directors’ plan
Key Terms
bona fide gift, grantor retained annuity trusts (GRATs), remainder interest, pecuniary interest, +2 more
6 terms
bona fide gift financial
"transaction_code_description: "Bona fide gift" for multiple G-code entries"
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.
grantor retained annuity trusts (GRATs) financial
"The reporting person is a co-trustee of multiple grantor retained annuity trusts (GRATs) established by him"
remainder interest financial
"his children hold the remainder interests therein"
pecuniary interest financial
"disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interests therein"
restricted stock units (RSUs) financial
"unvested restricted stock units (RSUs) awarded to the reporting person under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan"
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.
FAQ
What Garmin (GRMN) indirect holdings remain after Jonathan Burrell’s gifts?
After the gifts, Form 4 entries show large remaining indirect positions, including 4,497,752 Registered Shares held by GRATs and 1,018,443 Registered Shares held by a trust. Additional indirect holdings are reported through other trusts and LLCs.
What does the Form 4 say about Jonathan Burrell’s Garmin (GRMN) RSUs?
One footnote states Burrell holds 8,493 Registered Shares plus unvested restricted stock units under Garmin’s Non‑Employee Directors’ Equity Incentive Plan. Those RSUs are payable only in Registered Shares and 858 shares vest on June 6, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
