Garmin (NYSE: GRMN) director trims stake with 643-share sale

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Garmin Ltd. director Joseph J. Hartnett reported a mix of equity compensation activity and a small share sale. He received 753 registered shares on June 5, 2026 as a restricted stock unit award that will vest on June 5, 2027. On June 6, 2026, 858 previously granted restricted stock units vested; 215 of those shares were withheld to cover a tax liability. On June 9, 2026, he sold 643 registered shares in an open-market transaction at $263.57 per share, leaving him with 21,277 shares held directly.

Insider Trade Summary

Net Seller: 643 shares ($169,476)

Net Sell 3 txns

Insider Hartnett Joseph J

Role null

Sold 643 shs ($169K)

Type	Security	Shares	Price	Value
Sale	Registered Shares	643	$263.57	$169K
Tax Withholding	Registered Shares	215	$236.57	$51K
Grant/Award	Registered Shares	753	$0.00	--

Holdings After Transaction: Registered Shares — 21,277 shares (Direct, null)

Footnotes (1)

Shares acquired pursuant to a grant of restricted stock units under the Garmin Ltd. 2011 Non-Employee Directors' Equity Incentive Plan. The award vests on June 5, 2027. Includes the 753 unvested shares acquired pursuant to the restricted stock unit award described in Footnote 1 and 858 shares acquired pursuant a previously granted restricted stock unit award. 858 shares that were acquired pursuant to an award of restricted stock units on June 6, 2025 vested and were released to the reporting person. Of these 858 shares, 215 shares were withheld to pay a resulting tax liability. Includes the 753 unvested shares acquired pursuant to the restricted stock unit award described in Footnote 1.

Key Figures

Open-market sale: 643 shares at $263.57/share RSU grant: 753 shares Tax withholding shares: 215 shares at $236.57/share +2 more

5 metrics

Open-market sale 643 shares at $263.57/share Registered Shares sold on June 9, 2026

RSU grant 753 shares Restricted stock unit award on June 5, 2026; vests June 5, 2027

Tax withholding shares 215 shares at $236.57/share Withheld on June 6, 2026 to pay tax liability

Shares after sale 21,277 shares Total registered shares directly owned after June 9, 2026 sale

RSUs vested 858 shares Restricted stock units vested and released on June 6, 2026

Key Terms

restricted stock units, tax liability, open-market sale, tax-withholding disposition, +1 more

5 terms

restricted stock units financial

"Shares acquired pursuant to a grant of restricted stock units under the Garmin Ltd. 2011 Non-Employee Directors' Equity Incentive Plan."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

tax liability financial

"Of these 858 shares, 215 shares were withheld to pay a resulting tax liability."

open-market sale financial

"transaction_action: open-market sale"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

tax-withholding disposition financial

"transaction_action: tax-withholding disposition"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

Non-Employee Directors' Equity Incentive Plan financial

"grant of restricted stock units under the Garmin Ltd. 2011 Non-Employee Directors' Equity Incentive Plan."

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Form 4 Insider Transactions: What Each Field Means →

06/09/2026 - 01:50 PM

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Hartnett Joseph J

(Last)

(First)

(Middle)

MUEHLENTALSTRASSE 36/38

(Street)

SCHAFFHAUSEN

SWITZERLAND

8200

(City)

(State)

(Zip)

SWITZERLAND

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/05/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Registered Shares	06/05/2026		A		753⁽¹⁾	A	$0	22,135⁽²⁾	D
Registered Shares	06/06/2026		F		215⁽³⁾	D	$236.57	21,920⁽⁴⁾	D
Registered Shares	06/09/2026		S		643	D	$263.57	21,277⁽⁴⁾	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Shares acquired pursuant to a grant of restricted stock units under the Garmin Ltd. 2011 Non-Employee Directors' Equity Incentive Plan. The award vests on June 5, 2027.

2. Includes the 753 unvested shares acquired pursuant to the restricted stock unit award described in Footnote 1 and 858 shares acquired pursuant a previously granted restricted stock unit award.

3. 858 shares that were acquired pursuant to an award of restricted stock units on June 6, 2025 vested and were released to the reporting person. Of these 858 shares, 215 shares were withheld to pay a resulting tax liability.

4. Includes the 753 unvested shares acquired pursuant to the restricted stock unit award described in Footnote 1.

	/s/ Paul E. Cassat, as attorney-in-fact for Joseph J. Hartnett	06/09/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Garmin (GRMN) director Joseph J. Hartnett report?

Joseph J. Hartnett reported receiving 753 registered shares as a restricted stock unit award, tax withholding of 215 shares on vesting, and an open-market sale of 643 registered shares, leaving him with 21,277 shares directly owned afterward.

How many Garmin (GRMN) shares did Joseph J. Hartnett sell and at what price?

Joseph J. Hartnett sold 643 registered shares of Garmin in an open-market transaction at a price of $263.57 per share. This sale followed the vesting of previously granted restricted stock units and was reported as a standard open-market sale.

What new equity award did Joseph J. Hartnett receive from Garmin (GRMN)?

Hartnett received 753 registered shares through a restricted stock unit grant under the Garmin Ltd. 2011 Non-Employee Directors' Equity Incentive Plan. The award was granted on June 5, 2026, and is scheduled to vest on June 5, 2027, subject to the plan’s terms.

Why were 215 Garmin (GRMN) shares withheld from Joseph J. Hartnett?

Of 858 Garmin shares that vested from a prior restricted stock unit award on June 6, 2026, 215 shares were withheld to pay a resulting tax liability. This tax-withholding disposition is a non-market mechanism to satisfy taxes on equity compensation.

How many Garmin (GRMN) shares does Joseph J. Hartnett hold after these transactions?

Following the award, tax withholding, and open-market sale, Joseph J. Hartnett directly holds 21,277 registered shares of Garmin Ltd. This figure includes 753 unvested shares from the new restricted stock unit award granted on June 5, 2026.