Garmin VP has shares withheld for tax payment

Garmin Ltd vice president and general counsel Joshua H. Maxfield reported share movements tied to restricted stock units.

Rhea-AI Filing Summary

Garmin Ltd vice president and general counsel Joshua H. Maxfield reported share movements tied to restricted stock units. On 2,710 vested shares, 1,144 registered shares were withheld at $251.99 per share to cover tax liabilities, a tax-withholding disposition rather than an open-market sale.

After this withholding, Maxfield directly held 16,121 registered shares and indirectly held 530.1555 registered shares through a 401(k) plan. His holdings also include 6,355 unvested shares from previously granted restricted stock unit awards.

Insider Trade Summary

Exercise Price or Tax Liability: 1,144 shares

Exercise Price or Tax Liability 2 txns

Insider MAXFIELD JOSHUA H

Role VP, General Counsel

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Registered Shares	1,144	$251.99	$288K
holding	Registered Shares	--	--	--

Holdings After Transaction: Registered Shares — 16,121 shares (Direct); Registered Shares — 530.1555 shares (Indirect, By 401(k) Plan)

Footnotes (2)

1. F1. 2,710 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, 1,144 shares were withheld to pay a resulting tax liability.
2. F2. Includes 6,355 unvested shares acquired pursuant to previously granted restricted stock unit awards.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Garmin (GRMN) report for Joshua H. Maxfield?

Garmin reported that Joshua H. Maxfield had 1,144 registered shares withheld to cover taxes on vested restricted stock units. This tax-withholding disposition is not an open-market sale but satisfies the tax liability from 2,710 vested shares.

How many Garmin (GRMN) shares vested and were paid to Joshua H. Maxfield?

A total of 2,710 Garmin registered shares vested and were paid to Joshua H. Maxfield from previously granted restricted stock unit awards. Of these, 1,144 shares were immediately withheld to pay the resulting tax liability associated with the vesting event.

What are Joshua H. Maxfield’s Garmin (GRMN) share holdings after this Form 4?

After the reported transaction, Joshua H. Maxfield directly held 16,121 registered shares of Garmin. He also indirectly held 530.1555 registered shares through a 401(k) plan, in addition to 6,355 unvested shares from previously granted restricted stock unit awards.

Was the Garmin (GRMN) Form 4 a market sale of shares by Joshua H. Maxfield?

No, the Form 4 describes a tax-withholding disposition, not an open-market sale. Shares were withheld by the company to cover taxes owed when 2,710 restricted stock units vested, consistent with transaction code F for tax payment using securities.

What does transaction code F mean in the Garmin (GRMN) Form 4 filing?

Transaction code F indicates payment of an exercise price or tax liability by delivering securities. In this case, 1,144 registered shares were withheld from Joshua H. Maxfield to satisfy tax obligations triggered when 2,710 restricted stock unit shares vested.

How many unvested Garmin (GRMN) restricted stock units does Joshua H. Maxfield hold?

Joshua H. Maxfield’s reported holdings include 6,355 unvested shares acquired through previously granted restricted stock unit awards. These shares have not yet vested, so they remain subject to the terms and conditions of the underlying equity award agreements.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 02/27/2026 - 06:00 PM EST Learn about SEC filing dates

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^*

MAXFIELD JOSHUA H

(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, General Counsel

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		1,144(1)	D	$251.99	16,121(2)	D
Registered Shares								530.1555	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. 2,710 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, 1,144 shares were withheld to pay a resulting tax liability.

2. Includes 6,355 unvested shares acquired pursuant to previously granted restricted stock unit awards.

	/s/ Paul E. Cassat, as attorney-in-fact for Joshua H. Maxfield	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.