JONATHAN BURRELL - 08 Sep 2022 Form 4 Insider Report for GARMIN LTD (GRMN)

Role
Director
Signature
/s/ Jonathan Burrell
Issuer symbol
GRMN
Transactions as of
08 Sep 2022
Net transactions value
$0
Form type
4
Filing time
09 Sep 2022, 16:11:39 UTC
Previous filing
31 Aug 2022
Next filing
03 Jan 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GRMN Registered Shares Gift $0 +578,000 +2541% $0.000000 600,747 08 Sep 2022 By trust F2
transaction GRMN Registered Shares Gift $0 -600,000 -100% $0.000000 747 09 Sep 2022 By trust F2
transaction GRMN Registered Shares Gift $0 +300,000 +3.4% $0.000000 9,172,799 09 Sep 2022 By CLATs F3
transaction GRMN Registered Shares Gift $0 -578,000 -6.5% $0.000000 8,292,400 08 Sep 2022 By GRATs F4
transaction GRMN Registered Shares Gift $0 +300,000 +3.6% $0.000000 8,592,400 09 Sep 2022 By GRATs F4
transaction GRMN Registered Shares Gift $0 -166,000 -1.9% $0.000000 8,426,400 09 Sep 2022 By GRATs F4
transaction GRMN Registered Shares Gift $0 +55,334 +7.7% $0.000000 773,834 09 Sep 2022 By trust F5
holding GRMN Registered Shares 6,927 08 Sep 2022 Direct F1
holding GRMN Registered Shares 30,000 08 Sep 2022 By trust
holding GRMN Registered Shares 394,478 08 Sep 2022 By LLCs F6
holding GRMN Registered Shares 300,000 08 Sep 2022 By GRATs F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Consists of (a) 5,425 Registered Shares, and (b) unvested RSUs awarded to the reporting person under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan that can be settled only in Registered Shares, which RSUs consist of the RSUs granted on June 10, 2022 that vest as to 1,502 shares on June 10, 2023.
F2 The reporting person is a co-trustee of his mother's revocable trust and is his mother's attorney-in-fact, and also holds a remainder interest in the securities held in such trust. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F3 The reporting person is a co-trustee of several charitable lead annuity trusts (CLATs) and holds a remainder interest therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F4 The reporting person is a co-trustee of several grantor retained annuity trusts (GRATs) established by his mother, and he holds a remainder interest therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F5 The reporting person is a co-trustee of a GRAT remainder trust established for his benefit.
F6 The reporting person is the manager of several limited liability companies that are wholly-owned by a GRAT remainder trust established for the reporting person's benefit.
F7 The reporting person is a co-trustee of multiple grantor retained annuity trusts (GRATs) established by him, and his children hold the remainder interests therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.