Garmin director reports 776,000-share gift transfers
GARMIN LTD director Jonathan Burrell reported a series of bona fide gift transfers of Garmin registered shares on August 10, 2026.
Rhea-AI Filing Summary
GARMIN LTD director Jonathan Burrell reported a series of bona fide gift transfers of Garmin registered shares on August 10, 2026. Indirect holdings in multiple grantor retained annuity trusts (GRATs) disposed of 90,000 and 298,000 shares in separate transactions, while related trusts received matching gifts of 298,000 and 90,000 shares. All gifts were recorded at $0.00 per share. Burrell reports both direct and indirect holdings, with certain positions held through GRATs, LLCs, and a revocable trust, and disclaims beneficial ownership beyond his pecuniary interests.
Positive
- None.
Negative
- None.
Insider Trade Summary
776,000 shares gifted
Gift
7 txns
Insider
BURRELL JONATHAN
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Registered Shares F2 | 90,000 | $0.00 | $0.00 |
| Gift | Registered Shares F3 | 298,000 | $0.00 | $0.00 |
| Gift | Registered Shares F6 | 298,000 | $0.00 | $0.00 |
| Gift | Registered Shares | 90,000 | $0.00 | $0.00 |
| holding | Registered Shares F1 | -- | -- | -- |
| holding | Registered Shares F4 | -- | -- | -- |
| holding | Registered Shares F5 | -- | -- | -- |
Holdings After Transaction:
Registered Shares — 4,073,752 shares (Indirect, By GRATs);
Registered Shares — 2,365,009 shares (Indirect, By trust);
Registered Shares — 9,889 shares (Direct);
Registered Shares — 394,478 shares (Indirect, By LLCs)
Footnotes (6)
- F1. Consists of (a) 9,136 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 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 interests 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
Total gift shares: 776,000 registered shares
Gift disposition 1: 90,000 registered shares
Gift disposition 2: 298,000 registered shares
+4 more
7 metrics
Total gift shares
776,000 registered shares
Aggregate bona fide gift transfers reported on August 10, 2026
Gift disposition 1
90,000 registered shares
Bona fide gift disposition from GRATs on August 10, 2026
Gift disposition 2
298,000 registered shares
Bona fide gift disposition from GRATs on August 10, 2026
Gift acquisition 1
298,000 registered shares
Bona fide gift received by trust on August 10, 2026
Gift acquisition 2
90,000 registered shares
Bona fide gift received by trust on August 10, 2026
Direct holdings
9,889 registered shares
Shares held directly by reporting person after reported transactions
Indirect LLC holdings
394,478 registered shares
Shares held indirectly through LLCs managed by a GRAT remainder trust
Key Terms
grantor retained annuity trusts (GRATs), remainder interest, revocable trust, 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"
revocable trust financial
"co-trustee of his mother's revocable trust and his mother's attorney-in-fact"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
bona fide gift financial
"transaction code "G" with 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 of the reported securities except to the extent of his pecuniary interest"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did GARMIN LTD (GRMN) director Jonathan Burrell report?
Jonathan Burrell reported bona fide gifts of Garmin registered shares on August 10, 2026, involving two dispositions from GRATs and two acquisitions by related trusts, all recorded at $0.00 per share as non-sale transfers.
How are Jonathan Burrell’s GARMIN LTD (GRMN) holdings structured after these gifts?
Burrell reports 9,889 registered shares held directly, plus indirect holdings including 394,478 shares held through LLCs and additional shares held through GRATs and a revocable trust, some of which he disclaims beyond his pecuniary interests.
Does Jonathan Burrell claim full beneficial ownership of the GARMIN LTD (GRMN) trust-held shares?
No. Footnotes state Burrell is a co-trustee or manager of several GRATs and a revocable trust and that he disclaims beneficial ownership of those securities except to the extent of his pecuniary interest in them.
AI-generated analysis. How Rhea-AI works. Not financial advice.
