Garmin director logs 1,685,332-share gift transfers
Garmin Ltd director Jonathan Burrell reported multiple bona fide gifts of Registered Shares on August 3–4, 2026, involving grantor retained annuity trusts (GRATs), LLCs, and other trusts for which he serves as co-trustee or manager.
Rhea-AI Filing Summary
Garmin Ltd director Jonathan Burrell reported multiple bona fide gifts of Registered Shares on August 3–4, 2026, involving grantor retained annuity trusts (GRATs), LLCs, and other trusts for which he serves as co-trustee or manager. These acquisitions and dispositions by the entities total 1,685,332 shares at $0.00 per share. After these moves, reported indirect holdings include 2,133,300 shares in certain GRATs and 1,648,966 shares in a trust, while he directly holds 9,889 Registered Shares and RSUs, including 753 RSUs vesting on June 5, 2027; for several GRATs and his mother’s trust he disclaims beneficial ownership beyond his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
1,685,332 shares gifted
Gift
10 txns
Insider
BURRELL JONATHAN
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Registered Shares F2 | 400,000 | $0.00 | $0.00 |
| Gift | Registered Shares F3 | 272,000 | $0.00 | $0.00 |
| Gift | Registered Shares F6 | 272,000 | $0.00 | $0.00 |
| Gift | Registered Shares | 408,000 | $0.00 | $0.00 |
| Gift | Registered Shares F3 | 170,000 | $0.00 | $0.00 |
| Gift | Registered Shares F5 | 56,666 | $0.00 | $0.00 |
| Gift | Registered Shares F6 | 50,000 | $0.00 | $0.00 |
| Gift | Registered Shares | 56,666 | $0.00 | $0.00 |
| holding | Registered Shares F1 | -- | -- | -- |
| holding | Registered Shares F4 | -- | -- | -- |
Holdings After Transaction:
Registered Shares — 2,133,300 shares (Indirect, By GRATs (2));
Registered Shares — 1,648,966 shares (Indirect, By trust (5));
Registered Shares — 4,371,752 shares (Indirect, By GRATs (3));
Registered Shares — 0 shares (Indirect, By trust (6));
Registered Shares — 626,043 shares (Indirect, By trust);
Registered Shares — 9,889 shares (Direct);
Registered Shares — 394,478 shares (Indirect, By LLCs (4))
Footnotes (6)
- F1. Consists of (a) 9,136 Registered Shares and (b) unvested restricted stock units (RSUs) award 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 interest 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
Gifted shares: 1,685,332 shares
Indirect GRAT holdings: 2,133,300 shares
Trust holdings: 1,648,966 shares
+3 more
6 metrics
Gifted shares
1,685,332 shares
Aggregate bona fide gifts (code G) reported across GRATs and trusts
Indirect GRAT holdings
2,133,300 shares
Registered Shares held indirectly by GRATs (2) after August 4, 2026 gift
Trust holdings
1,648,966 shares
Registered Shares held in a trust (5) after August 3, 2026 gift
Direct shares and RSUs
9,889
Direct position consisting of 9,136 Registered Shares plus unvested RSUs
RSUs vesting
753 shares
Restricted stock units vesting on June 5, 2027, settled in Registered Shares
Indirect LLC holdings
394,478 shares
Shares held through LLCs wholly owned by a GRAT remainder trust
Key Terms
grantor retained annuity trusts (GRATs), remainder interest, restricted stock units (RSUs), bona fide gift, +1 more
5 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) award 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.
pecuniary interest financial
"disclaims beneficial ownership ... except to the extent of his pecuniary interest"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Garmin (GRMN) director Jonathan Burrell report in this Form 4?
Jonathan Burrell reported bona fide gifts totaling 1,685,332 Registered Shares on August 3–4, 2026. The transactions involved acquisitions and dispositions among GRATs, trusts, and LLCs associated with him, all recorded at $0.00 per share rather than as market trades.
Were the GRMN insider transactions market sales or purchases?
The reported GRMN transactions are code G bona fide gifts, not open‑market sales or purchases. Shares moved as gifts among GRATs, trusts, and related entities, with no per‑share price paid, and the aggregate gifted amount is 1,685,332 shares.
What are Jonathan Burrell’s direct Garmin (GRMN) holdings and RSUs?
Directly, Burrell reports 9,889 Registered Shares and RSUs. This consists of 9,136 shares plus unvested restricted stock units that can be settled only in shares, including 753 RSUs scheduled to vest on June 5, 2027 under the non‑employee directors’ equity plan.
How do GRATs and family trusts factor into this GRMN Form 4?
Many transactions involve GRATs and trusts where Burrell is co‑trustee or manager. For GRATs he established, GRATs created by his mother, and his mother’s revocable trust, he disclaims beneficial ownership except to the extent of his pecuniary interest in the reported securities.
Does the Garmin (GRMN) Form 4 mention a Rule 10b5-1 trading plan?
The Form 4’s Rule 10b5‑1 checkbox is not marked as an affirmative plan. The filing instead characterizes all reported movements as bona fide gifts by or among trusts, GRATs, and related entities, without identifying a trading plan governing these transfers.
AI-generated analysis. How Rhea-AI works. Not financial advice.
