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Garmin (GRMN) co-COO Patrick Desbois awarded 8,574 restricted shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Garmin Ltd. reported that co-COO Patrick Desbois acquired 8,574 registered shares on February 18, 2026 through a grant or award, at a stated price of $0.00 per share, indicating this was an equity compensation award rather than an open-market transaction. According to the footnotes, these shares relate to a restricted stock unit award granted in February 2025 that originally had both performance-based and time-based vesting conditions; the performance goals have been met and the award is now subject only to time-based vesting. The award is scheduled to vest in three equal annual installments beginning on February 25, 2026. After this transaction, Desbois beneficially owned 70,372 shares, which includes 32,919 unvested shares from this and other prior restricted stock unit awards.

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Insider Desbois Patrick
Role co-COO
Type Security Shares Price Value
Grant/Award Registered Shares 8,574 $0.00 --
Holdings After Transaction: Registered Shares — 70,372 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 32,919 unvested shares acquired pursuant to the restricted stock units award described in Footnote 1 and other 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
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*
Desbois Patrick
(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)
co-COO
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 8,574(1) A $0 70,372(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 32,919 unvested shares acquired pursuant to the restricted stock units award described in Footnote 1 and other previously granted restricted stock unit awards.
/s/ Paul E. Cassat, as attorney-in-fact for Patrick Desbois 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did Garmin (GRMN) co-COO Patrick Desbois report on this Form 4?

Patrick Desbois reported acquiring 8,574 registered shares of Garmin stock via an equity award. The shares stem from a restricted stock unit grant, not an open-market transaction, and increase his total beneficial ownership to 70,372 shares after the award.

How many Garmin (GRMN) shares did Patrick Desbois acquire and at what price?

Patrick Desbois acquired 8,574 registered shares of Garmin through a grant or award at a stated price of $0.00 per share. This reflects stock-based compensation, not a cash purchase, as part of his overall equity incentive arrangements with the company.

What are the vesting terms of Patrick Desbois’s Garmin (GRMN) restricted stock units?

The restricted stock units underlying the 8,574 shares vest in three equal annual installments starting February 25, 2026. The award was granted in February 2025 with performance and time conditions; performance conditions have been satisfied, leaving only time-based vesting requirements.

How many Garmin (GRMN) shares does Patrick Desbois own after this transaction?

After this transaction, Patrick Desbois beneficially owns 70,372 Garmin shares. This total includes 32,919 unvested shares from the February 2025 restricted stock unit award and other previously granted restricted stock unit awards, as detailed in the Form 4 footnotes.

Are all of Patrick Desbois’s Garmin (GRMN) reported shares fully vested?

Not all reported shares are fully vested. Of the 70,372 shares beneficially owned after the transaction, 32,919 are unvested shares tied to the February 2025 restricted stock unit award and other prior awards, which remain subject to time-based vesting conditions.

Is Patrick Desbois’s Garmin (GRMN) Form 4 transaction a market buy or compensation award?

The Form 4 reflects a compensation award, not a market buy. Desbois received 8,574 registered shares at a stated price of $0.00 per share through a restricted stock unit grant that vests over time, consistent with stock-based executive compensation.