CLIFTON A. PEMBLE - 18 Jun 2024 Form 4 Insider Report for GARMIN LTD (GRMN)

Role
President and CEO, Director
Signature
/s/ Paul E. Cassat, as attorney-in-fact for Clifton A. Pemble
Issuer symbol
GRMN
Transactions as of
18 Jun 2024
Net transactions value
-$2,552,384
Form type
4
Filing time
20 Jun 2024, 10:56:17 UTC
Previous filing
27 Feb 2024
Next filing
10 Dec 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GRMN Registered Shares Sale $2,013,852 -12,581 -7.9% $160.07 146,738 18 Jun 2024 Direct F1, F2, F3
transaction GRMN Registered Shares Sale $538,532 -3,350 -2.3% $160.76 143,388 18 Jun 2024 Direct F1, F3, F4
holding GRMN Registered Shares 255 18 Jun 2024 By Child
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 Pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 1, 2024.
F2 This transaction was executed in multiple trades at prices ranging from $159.56 to $160.555. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.
F3 Includes 65,746 unvested shares acquired pursuant to previously granted restricted stock unit awards.
F4 This transaction was executed in multiple trades at prices ranging from $160.56 to $161.005. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.