Trusts tied to Garmin (GRMN) director report 800,000-share stock gifts
Filing Impact
Filing Sentiment
Form Type
4
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.
Positive
- None.
Negative
- None.
Insider Trade Summary
800,000 shares gifted
Mixed
7 txns
Insider
BURRELL JONATHAN
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Registered Shares | 400,000 | $0.00 | -- |
| Gift | Registered Shares | 400,000 | $0.00 | -- |
| holding | Registered Shares | -- | -- | -- |
| holding | Registered Shares | -- | -- | -- |
| holding | Registered Shares | -- | -- | -- |
| holding | Registered Shares | -- | -- | -- |
| holding | Registered Shares | -- | -- | -- |
Holdings After Transaction:
Registered Shares — 1,497,500 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 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.
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.
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.