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Garmin (GRMN) director gets RSU grant as shares withheld for taxes

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

Rhea-AI Filing Summary

Garmin Ltd. director Catherine A. Lewis reported routine equity compensation activity. On June 5, 2026 she acquired 753 registered shares at no cost through a restricted stock unit grant under the 2011 Non-Employee Directors' Equity Incentive Plan; this award vests on June 5, 2027. On June 6, 2026, 858 shares from an earlier RSU award vested, and 215 of those shares were disposed of to cover the resulting tax liability, a tax-withholding transaction rather than an open-market sale. After these transactions, she directly held 7,945 registered shares, including 753 unvested RSU shares.

Positive

  • None.

Negative

  • None.
Insider LEWIS CATHERINE A.
Role null
Type Security Shares Price Value
Tax Withholding Registered Shares 215 $236.57 $51K
Grant/Award Registered Shares 753 $0.00 --
Holdings After Transaction: Registered Shares — 7,945 shares (Direct, null)
Footnotes (1)
  1. Shares acquired pursuant to a grant of restricted stock units under the Garmin Ltd. 2011 Non-Employee Directors' Equity Incentive Plan. The award vests on June 5, 2027. Includes the 753 unvested shares acquired pursuant to the restricted stock unit award described in Footnote 1 and 858 shares acquired pursuant a previously granted restricted stock unit award. 858 shares that were acquired pursuant to an award of restricted stock units on June 6, 2025 vested and were released to the reporting person. Of these 858 shares, 215 shares were withheld to pay a resulting tax liability. Includes the 753 unvested shares acquired pursuant to the restricted stock unit award described in Footnote 1.
RSU grant 753 shares Registered shares from restricted stock unit grant on June 5, 2026
Tax-withheld shares 215 shares Shares withheld on June 6, 2026 to pay tax liability
Tax-withholding price $236.57 per share Value used for 215-share tax-withholding disposition
Shares after transactions 7,945 shares Registered shares directly held after June 6, 2026 transactions
Previously vested RSUs 858 shares RSU award vested and released on June 6, 2026
Unvested RSU component 753 shares Unvested shares from new award vesting on June 5, 2027
restricted stock units financial
"Shares acquired pursuant to a grant of restricted stock units under the Garmin Ltd. 2011 Non-Employee Directors' Equity Incentive Plan."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
2011 Non-Employee Directors' Equity Incentive Plan financial
"Shares acquired pursuant to a grant of restricted stock units under the Garmin Ltd. 2011 Non-Employee Directors' Equity Incentive Plan."
tax liability financial
"858 shares that were acquired pursuant to an award of restricted stock units on June 6, 2025 vested and were released to the reporting person. Of these 858 shares, 215 shares were withheld to pay a resulting tax liability."
withheld financial
"215 shares were withheld to pay a resulting tax liability."
grant, award, or other acquisition financial
"Grant, award, or other acquisition"
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
LEWIS CATHERINE A.
(Last)(First)(Middle)
MUEHLENTALSTRASSE 36/38
(Street)
SCHAFFHAUSENSWITZERLAND8200
(City)(State)(Zip)
SWITZERLAND
(Country)		2. Issuer Name and Ticker or Trading Symbol
GARMIN LTD [ GRMN ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/05/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Registered Shares06/05/2026A753(1)A$08,160(2)D
Registered Shares06/06/2026F215(3)D$236.577,945(4)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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Shares acquired pursuant to a grant of restricted stock units under the Garmin Ltd. 2011 Non-Employee Directors' Equity Incentive Plan. The award vests on June 5, 2027.
2. Includes the 753 unvested shares acquired pursuant to the restricted stock unit award described in Footnote 1 and 858 shares acquired pursuant a previously granted restricted stock unit award.
3. 858 shares that were acquired pursuant to an award of restricted stock units on June 6, 2025 vested and were released to the reporting person. Of these 858 shares, 215 shares were withheld to pay a resulting tax liability.
4. Includes the 753 unvested shares acquired pursuant to the restricted stock unit award described in Footnote 1.
/s/ Paul E. Cassat, as attorney-in-fact for Catherine A. Lewis06/09/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Garmin (GRMN) director Catherine A. Lewis report?

Catherine A. Lewis reported a grant of 753 registered shares from restricted stock units and a disposition of 215 shares to cover tax liabilities after prior RSUs vested. These are routine compensation and tax-withholding events, not open-market purchases or sales.

How many Garmin (GRMN) shares did Catherine A. Lewis receive in the latest RSU grant?

She received 753 registered shares through a restricted stock unit grant under Garmin’s 2011 Non-Employee Directors' Equity Incentive Plan. The award represents equity-based director compensation and is scheduled to vest in full on June 5, 2027, subject to plan terms.

When do Catherine A. Lewis’s newly granted Garmin (GRMN) RSUs vest?

The 753 shares from the new restricted stock unit grant vest on June 5, 2027. Until vesting, these shares remain unvested equity awards, though they are included in her reported beneficial holdings as unvested RSU shares linked to her director compensation.

Why were 215 Garmin (GRMN) shares disposed of in Catherine A. Lewis’s Form 4?

The 215 shares were withheld to pay a tax liability arising when 858 previously granted restricted stock unit shares vested and were released. This F-code transaction is a tax-withholding disposition, not an open-market sale initiated for portfolio or valuation reasons.

How many Garmin (GRMN) shares does Catherine A. Lewis hold after these transactions?

Following the RSU grant and tax-withholding disposition, she directly holds 7,945 registered shares. This total includes 753 unvested shares from the June 5, 2027 vesting RSU award, along with previously vested and released shares in her direct ownership.

Are Catherine A. Lewis’s recent Garmin (GRMN) transactions indicative of bullish or bearish trading?

The reported transactions reflect compensation and tax withholding rather than directional trading. One entry is an RSU grant at no cost, and the other is a tax-withholding share disposition, so they do not signal active buying or selling based on market views.