JONATHAN BURRELL - 09 Jun 2023 Form 4 Insider Report for GARMIN LTD (GRMN)

Role
Director
Signature
/s/Jonathan Burrell
Issuer symbol
GRMN
Transactions as of
09 Jun 2023
Transactions value $
$-39,608
Form type
4
Filing time
13 Jun 2023, 15:50:52 UTC
Previous filing
08 Jun 2023
Next filing
13 Sep 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GRMN Registered Shares Award $0 +1,501 +21.7% $0.000000 8,428 09 Jun 2023 Direct F1, F2
transaction GRMN Registered Shares Tax liability $-39,608 -376 -4.46% $105.34 8,052 10 Jun 2023 Direct F3, F4
transaction GRMN Registered Shares Gift $0 +132,600 +442% $0.000000 162,600 12 Jun 2023 By trust
transaction GRMN Registered Shares Gift $0 -132,600 -44.2% $0.000000 167,400 12 Jun 2023 By GRATs F10
holding GRMN Registered Shares 0 09 Jun 2023 By trust F5
holding GRMN Registered Shares 9,355,549 09 Jun 2023 By CLATs F6
holding GRMN Registered Shares 8,047,147 09 Jun 2023 By GRATs F7
holding GRMN Registered Shares 773,834 09 Jun 2023 By trust F8
holding GRMN Registered Shares 394,478 09 Jun 2023 By LLCs F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares acquired pursuant to a grant of restricted stock units under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan. The award vests on June 9, 2024.
F2 Includes the 1,501 unvested shares acquired pursuant to the grant of restricted stock unit award described in Footnote 1 and 1,502 unvested shares acquired pursuant to a previously granted restricted stock unit award.
F3 1,502 shares that were acquired pursuant to an award of restricted stock units on June 10, 2022 vested and were released to the reporting person. Of these 1,502 shares, 376 were withheld to pay a resulting tax liability.
F4 Includes the 1,501 unvested shares acquired pursuant to the grant of restricted stock unit award described in Footnote 1.
F5 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.
F6 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.
F7 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.
F8 The reporting person is a co-trustee of a GRAT remainder trust established for his benefit.
F9 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.
F10 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.