Were Garmin (GRMN) CFO share sales under a Rule 10b5-1 plan?

Yes. The reported open-market sales were made under a Rule 10b5-1 plan. The filing states that Douglas G. Boessen’s transactions were executed pursuant to a trading plan he adopted on March 3, 2025, providing pre-arranged instructions for selling shares.

What is Douglas G. Boessen’s Garmin (GRMN) share ownership after these transactions?

After the reported transactions, Boessen directly held 28,049 registered shares. The filing specifies that this amount includes 16,021 unvested shares that were acquired through previously granted restricted stock unit awards and remain subject to vesting conditions.

Garmin (GRMN) CFO Boessen trades shares, reports RSU vesting and tax withholding

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Garmin Ltd. CFO and Treasurer Douglas G. Boessen reported multiple share dispositions. On February 26, 2026, he executed three open-market sales totaling 3,487 registered shares at weighted average prices around $251–$253, under a Rule 10b5-1 trading plan adopted on March 3, 2025.

On February 25, 2026, 8,476 shares from previously granted restricted stock units vested and were delivered, with 3,732 shares withheld to cover tax obligations. After these transactions, he directly held 28,049 registered shares, which the filing notes include 16,021 unvested shares from restricted stock unit awards.

Insider Trade Summary

Net Seller: 3,487 shares ($877,541)

Net Sell 4 txns

Insider Boessen Douglas G.

Role CFO and Treasurer

Sold 3,487 shs ($878K)

Type	Security	Shares	Price	Value
Sale	Registered Shares	1,412	$251.01	$354K
Sale	Registered Shares	1,920	$252.01	$484K
Sale	Registered Shares	155	$253.26	$39K
Tax Withholding	Registered Shares	3,732	$251.99	$940K

Holdings After Transaction: Registered Shares — 30,124 shares (Direct)

Footnotes (1)

8,476 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, 3,732 shares were withheld to pay a resulting tax liability. Includes 16,021 unvested shares acquired pursuant to previously granted restricted stock unit awards. Pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 3, 2025. This transaction was executed in multiple trades at prices ranging from $250.64 to $251.44. 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. This transaction was executed in multiple trades at prices ranging from $251.65 to $252.405. 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. This transaction was executed in multiple trades at prices ranging from $252.95 to $253.36. 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.

Form 4 Insider Transactions: What Each Field Means →

02/27/2026 - 06:00 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^*

Boessen Douglas G.

(Last)

(First)

(Middle)

1200 E. 151ST ST.

(Street)

OLATHE

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)
	CFO and Treasurer

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)
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	02/25/2026		F		3,732⁽¹⁾	D	$251.99	31,536⁽²⁾	D
Registered Shares	02/26/2026		S⁽³⁾		1,412	D	$251.01⁽⁴⁾	30,124⁽²⁾	D
Registered Shares	02/26/2026		S⁽³⁾		1,920	D	$252.01⁽⁵⁾	28,204⁽²⁾	D
Registered Shares	02/26/2026		S⁽³⁾		155	D	$253.26⁽⁶⁾	28,049⁽²⁾	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. 8,476 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, 3,732 shares were withheld to pay a resulting tax liability.

2. Includes 16,021 unvested shares acquired pursuant to previously granted restricted stock unit awards.

3. Pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 3, 2025.

4. This transaction was executed in multiple trades at prices ranging from $250.64 to $251.44. 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.

5. This transaction was executed in multiple trades at prices ranging from $251.65 to $252.405. 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.

6. This transaction was executed in multiple trades at prices ranging from $252.95 to $253.36. 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 Douglas G. Boessen	02/27/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did Garmin (GRMN) CFO Douglas G. Boessen report in this Form 4?

Douglas G. Boessen reported share sales and tax-related dispositions. He sold 3,487 Garmin registered shares in open-market transactions and had 3,732 shares withheld to cover taxes on vested restricted stock units, while remaining a direct holder of 28,049 registered shares.

How many Garmin (GRMN) shares did the CFO sell and at what prices?

The CFO sold 3,487 registered shares in open-market trades. These transactions occurred on February 26, 2026 at weighted average prices near $251–$253, with detailed price ranges from $250.64 to $253.36 disclosed for the separate trade groups.

How many restricted stock units vested for the Garmin (GRMN) CFO?

A total of 8,476 shares from restricted stock unit awards vested. These shares were delivered to Douglas G. Boessen, and 3,732 of them were withheld to satisfy tax liabilities, leaving the remainder added to his directly held Garmin share position.

What type of disposition is coded “F” in the Garmin (GRMN) CFO’s Form 4?

The “F” coded transaction reflects shares withheld for taxes. In this case, 3,732 shares were disposed of to pay the tax liability related to vesting of restricted stock units, rather than being sold in the open market for cash proceeds.