Garmin (GRMN) VP reports RSU vesting and tax-withheld share disposition

Rhea-AI Filing Summary

Garmin Ltd. vice president Laurie A. Minard reported an automatic share disposition related to restricted stock units. On the vesting of 1,996 shares from previously granted restricted stock unit awards, 912 registered shares were withheld at a price of $251.99 per share to cover tax liabilities. After this tax-withholding disposition, Minard beneficially owned 4,869 Garmin shares, including 3,785 unvested shares from earlier restricted stock unit grants.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider MINARD LAURIE A

Role VP, Human Resources

Type	Security	Shares	Price	Value
Tax Withholding	Registered Shares	912	$251.99	$230K

Holdings After Transaction: Registered Shares — 4,869 shares (Direct)

Footnotes (1)

1. 1,996 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, 912 shares were withheld to pay a resulting tax liability. Includes 3,785 unvested shares acquired pursuant to previously granted restricted stock unit awards.

Form 4 Insider Transactions: What Each Field Means →

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
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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^*

MINARD LAURIE A

(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, Human Resources

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		912(1)	D	$251.99	4,869(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. 1,996 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, 912 shares were withheld to pay a resulting tax liability.

2. Includes 3,785 unvested shares acquired pursuant to previously granted restricted stock unit awards.

	/s/ Paul E. Cassat, as attorney-in-fact for Laurie A. Minard	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.

FAQ

What did Garmin (GRMN) insider Laurie A. Minard report on this Form 4?

Laurie A. Minard, a Garmin vice president, reported an automatic tax-withholding disposition of shares. When 1,996 restricted stock unit shares vested, 912 registered shares were withheld to cover tax liabilities, rather than being sold in an open-market transaction.

How many Garmin (GRMN) shares vested and how many were withheld for taxes?

A total of 1,996 Garmin shares vested for Laurie A. Minard from previously granted restricted stock unit awards. Of these vested shares, 912 were withheld by the company to satisfy resulting tax obligations, according to the Form 4 footnote disclosure.

What type of transaction is code "F" in Laurie A. Minard’s Garmin Form 4?

Transaction code “F” on this Form 4 reflects payment of a tax liability by delivering securities. In this case, 912 Garmin registered shares were withheld as a tax-withholding disposition, rather than being an ordinary discretionary purchase or sale on the market.

How many Garmin (GRMN) shares does Laurie A. Minard own after this transaction?

After the tax-withholding disposition, Laurie A. Minard beneficially owned 4,869 Garmin shares. This reported amount includes 3,785 unvested shares acquired through previously granted restricted stock unit awards, as detailed in the Form 4 explanatory footnote.

Does Laurie A. Minard’s Form 4 indicate an open-market sale of Garmin shares?

The filing does not indicate an open-market sale. It shows a tax-withholding disposition coded “F,” where 912 vested shares were withheld to cover tax liabilities, rather than being actively sold by Laurie A. Minard on the open market.

What role does Laurie A. Minard hold at Garmin (GRMN) according to the Form 4?

Laurie A. Minard is identified as an officer of Garmin, serving as Vice President, Human Resources. The reported Form 4 transaction relates to her equity compensation, specifically restricted stock unit awards that vested and triggered a tax-withholding share disposition.