Jonathan Burrell - May 25, 2021 Form 4 Insider Report for GARMIN LTD (GRMN)

Role
Director, 10%+ Owner
Signature
/s/Jonathan Burrell
Stock symbol
GRMN
Transactions as of
May 25, 2021
Transactions value $
$0
Form type
4
Date filed
5/25/2021, 04:15 PM
Previous filing
May 24, 2021
Next filing
May 27, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GRMN Registered Shares Gift $0 +630K +42.91% $0.00 2.1M May 25, 2021 By trust F2
transaction GRMN Registered Shares Gift $0 -630K -5.67% $0.00 10.5M May 25, 2021 By GRATs F4
holding GRMN Registered Shares 5.26K May 25, 2021 Direct F1
holding GRMN Registered Shares 30K May 25, 2021 By trust
holding GRMN Registered Shares 8.95M May 25, 2021 By CLATs F3
holding GRMN Registered Shares 288K May 25, 2021 By trust F5
holding GRMN Registered Shares 43.5K May 25, 2021 By LLC F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Consists of (a) 2,799 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: (i) RSUs granted on June 5, 2020 that vest as to 1,594 shares on June 5, 2021; and (ii) RSUs granted on June 8, 2018 that vest as to 865 shares on June 8, 2021.
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 a limited liability company, which is wholly-owned by a GRAT remainder trust established for the reporting person's benefit.