Garmin (NASDAQ: GRMN) VP Susan Lyman sells 3,805 registered shares

Rhea-AI Filing Summary

Garmin Ltd. executive Susan Lyman, VP of Consumer Sales & Marketing, reported multiple share transactions. On February 26, 2026, she made two open-market sales totaling 3,805 registered shares of Garmin stock at weighted average prices of $251.0425 and $252.0936 per share, leaving 7,471 shares held directly afterward.

On February 25, 2026, 3,287 shares from previously granted restricted stock unit awards vested and were paid, with 988 shares withheld to cover tax liabilities in a disposition at $251.99 per share. Lyman also reports 52.14 shares held indirectly through a 401(k) plan and 6,502 unvested shares from earlier restricted stock unit awards.

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^*

LYMAN SUSAN

(Last) (First) (Middle)

1200 E. 151ST ST.

(Street)

OLATHE KS 66062

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP, Consumer Sales & Marketing

3. Date of Earliest Transaction (Month/Day/Year)
02/25/2026

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	02/25/2026		F		988(1)	D	$251.99	11,276(2)	D
Registered Shares	02/26/2026		S		2,814	D	$251.0425(3)	8,462(2)	D
Registered Shares	02/26/2026		S		991	D	$252.0936(4)	7,471(2)	D
Registered Shares								52.14	I	By 401(k) Plan

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. 3,287 shares that were acquired by the reporting person pursuant to previously granted restricted stock unit awards vested and were paid to the reporting person. Of these shares, 988 shares were withheld to pay a resulting tax liability.

2. Includes 6,502 unvested shares acquired pursuant to previously granted restricted stock unit awards.

3. This transaction was executed in multiple trades at prices ranging from $250.72 to $251.72. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

4. This transaction was executed in multiple trades at prices ranging from $251.87 to $252.74. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

	/s/ Paul E. Cassat, as attorney-in-fact for Susan Lyman	02/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transactions did Garmin (GRMN) VP Susan Lyman report?

Susan Lyman reported open-market sales and a tax-related share disposition. She sold 3,805 registered shares on February 26, 2026 and had 988 shares withheld on February 25, 2026 to cover tax from vesting restricted stock units.

How many Garmin (GRMN) shares did Susan Lyman sell and at what prices?

Susan Lyman sold 2,814 registered shares at a weighted average price of $251.0425 and 991 shares at $252.0936 on February 26, 2026, according to the Form 4 insider transaction disclosure.

What Garmin (GRMN) share holdings does Susan Lyman report after these transactions?

After the reported sales, Susan Lyman holds 7,471 Garmin registered shares directly, 52.14 shares indirectly through a 401(k) plan, and 6,502 unvested shares from previously granted restricted stock unit awards, based on the Form 4 details and accompanying footnotes.

How were Garmin (GRMN) restricted stock units treated in Susan Lyman’s Form 4?

The filing notes 3,287 shares from previously granted restricted stock unit awards vested and were paid to Susan Lyman, with 988 of those shares withheld to satisfy a resulting tax liability, reflecting a non-open-market tax-withholding disposition.

Were Susan Lyman’s Garmin (GRMN) insider sales executed in multiple trades?

Yes. The filing states each sale transaction was executed in multiple trades within price ranges of $250.72–$251.72 and $251.87–$252.74, with the reported per-share prices reflecting weighted average sale prices for the aggregated trades.

What type of transaction is the 988-share Garmin (GRMN) disposition by Susan Lyman?

The 988-share disposition is coded as an F transaction, described as payment of tax liability by delivering securities, meaning shares were withheld to cover taxes arising from the vesting of restricted stock unit awards.