Trusts tied to Garmin (GRMN) director report 800,000-share stock gifts

Rhea-AI Filing Summary

GARMIN LTD director Jonathan Burrell reported indirect gifts of company stock made by estate-planning entities associated with him. On February 24, 2026, grantor retained annuity trusts (GRATs) and a trust made two bona fide gifts totaling 800,000 Registered Shares, recorded at $0.00 per share.

After these gifts, Burrell’s direct holdings were 9,351 Registered Shares plus unvested RSUs that settle only in shares, while indirect holdings included 4,833,352 Registered Shares held by GRATs, 394,478 by LLCs, and 1,446,766 and 192,000 shares held by various trusts where he serves as trustee or manager and often disclaims beneficial ownership beyond his pecuniary interest.

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

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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^*

BURRELL JONATHAN

(Last) (First) (Middle)

6300 WEST 143RD STREET

(Street)

OVERLAND PARK KS 66223

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/24/2026

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								9,351(1)	D
Registered Shares	02/24/2026		G		400,000	A	$0	1,497,500	I	By GRATs(2)
Registered Shares								4,833,352	I	By GRATs(3)
Registered Shares								394,478	I	By LLCs(4)
Registered Shares								1,447,766	I	By trust(5)
Registered Shares	02/24/2026		G		400,000	D	$0	1,246,843	I	By trust
Registered Shares								192,000	I	By trust(6)

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. 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.

2. 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.

3. 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.

4. 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.

5. The reporting person is a co-trustee of a GRAT remainder trust established for his benefit.

6. 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.

	/s/Jonathan Burrell	02/24/2026
	** 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.

FAQ

What did Garmin (GRMN) director Jonathan Burrell report in this Form 4?

Jonathan Burrell reported two indirect bona fide gifts of Garmin Registered Shares totaling 800,000 shares. The gifts were made by GRATs and a trust associated with his estate planning, with no sale proceeds reported and transactions coded as gifts.

How many Garmin (GRMN) shares were gifted and at what price?

Entities associated with Jonathan Burrell gifted 800,000 Garmin Registered Shares in total, split into two 400,000-share gifts. The Form 4 reports a transaction price of $0.00 per share, consistent with their classification as bona fide gifts rather than sales.

Were the Garmin (GRMN) share gifts made directly by Jonathan Burrell?

The gifts were reported as indirect, made by grantor retained annuity trusts and a trust associated with Jonathan Burrell. He serves as co-trustee or manager and in several cases disclaims beneficial ownership except for his pecuniary interest in the underlying securities.

What are Jonathan Burrell’s direct Garmin (GRMN) holdings after these transactions?

After the reported transactions, Jonathan Burrell held 9,351 Garmin Registered Shares directly, plus unvested restricted stock units that settle only in shares. These RSUs include 858 shares scheduled to vest on June 6, 2026 under the non-employee directors’ equity incentive plan.

What indirect Garmin (GRMN) share holdings are reported for Jonathan Burrell?

Indirect holdings include 4,833,352 Registered Shares held by GRATs, 394,478 shares held by LLCs, and 1,446,766 and 192,000 shares held in various trusts. In multiple cases he is co-trustee or manager and disclaims beneficial ownership beyond his pecuniary interest.

Does this Garmin (GRMN) Form 4 show open-market buying or selling by Jonathan Burrell?

No open-market purchases or sales are reported. The only transactions with share amounts are coded as bona fide gifts, not market trades, and are made indirectly through GRATs and a trust rather than as direct buy or sell orders by Jonathan Burrell.