Garmin (NASDAQ: GRMN) VP gets 1,596-share stock award

Rhea-AI Filing Summary

Garmin Ltd. vice president of human resources Laurie A. Minard reported an acquisition of 1,596 registered shares at a price of $0.00 per share through a grant or award. These shares relate to a restricted stock unit award granted in February 2025.

The award originally had both performance-based and time-based vesting conditions; the performance conditions have now been satisfied, and it is subject only to time-based vesting. The award will vest in three equal annual installments beginning on February 25, 2026.

After this transaction, Minard directly owns 6,618 shares, which includes 5,781 unvested shares from this and other restricted stock unit awards and 57 shares acquired in December 2025 under the Garmin Ltd. Employee Stock Purchase Plan.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider MINARD LAURIE A

Role VP, Human Resources

Type	Security	Shares	Price	Value
Grant/Award	Registered Shares	1,596	$0.00	--

Holdings After Transaction: Registered Shares — 6,618 shares (Direct)

Footnotes (1)

1. Shares acquired pursuant to a restricted stock units award granted in February 2025 that had both performance-based and time-based vesting conditions. The performance-based vesting conditions have been satisfied, and now the award is subject only to time-based vesting conditions. The award vests in three equal annual installments beginning on February 25, 2026. Includes 5,781 unvested shares acquired pursuant to the restricted stock units award described in Footnote 1 and other previously granted restricted stock unit awards and (ii) 57 shares acquired in December 2025 under the Garmin Ltd. Employee Stock Purchase Plan.

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
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^*

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)
02/18/2026

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	02/18/2026		A		1,596(1)	A	$0	6,618(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. Shares acquired pursuant to a restricted stock units award granted in February 2025 that had both performance-based and time-based vesting conditions. The performance-based vesting conditions have been satisfied, and now the award is subject only to time-based vesting conditions. The award vests in three equal annual installments beginning on February 25, 2026.

2. Includes 5,781 unvested shares acquired pursuant to the restricted stock units award described in Footnote 1 and other previously granted restricted stock unit awards and (ii) 57 shares acquired in December 2025 under the Garmin Ltd. Employee Stock Purchase Plan.

	/s/ Paul E. Cassat, as attorney-in-fact for Laurie A. Minard	02/20/2026
	** 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) executive Laurie A. Minard report on this Form 4?

Laurie A. Minard reported acquiring 1,596 registered shares of Garmin stock via a grant or award at $0.00 per share. These shares come from a restricted stock unit award with performance and time-based vesting conditions that are now only time-based.

How do Laurie A. Minard’s restricted stock units at Garmin (GRMN) vest?

The restricted stock unit award vests in three equal annual installments starting February 25, 2026. Performance-based conditions tied to the award have already been satisfied, so future vesting depends only on fulfilling the time-based service requirements each year.

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

After the reported award, Laurie A. Minard directly owns 6,618 Garmin shares. This total includes 5,781 unvested shares from this and other restricted stock unit awards, plus 57 shares acquired under the Garmin Ltd. Employee Stock Purchase Plan in December 2025.

Was cash paid for the Garmin (GRMN) shares acquired by Laurie A. Minard?

The 1,596 Garmin registered shares were acquired at a reported price of $0.00 per share, indicating they were received as a grant or award. This reflects equity-based compensation rather than an open-market purchase of stock for cash.

What type of equity award did Garmin (GRMN) grant to Laurie A. Minard?

Garmin granted a restricted stock unit award to Laurie A. Minard in February 2025. The award initially required both performance and time-based conditions, but only time-based vesting remains after performance criteria were met, with vesting over three annual installments beginning in 2026.