Jonathan Burrell - Jun 10, 2022 Form 4 Insider Report for GARMIN LTD (GRMN)

Role
Director
Signature
/s/ Jonathan Burrell
Stock symbol
GRMN
Transactions as of
Jun 10, 2022
Transactions value $
$0
Form type
4
Date filed
6/13/2022, 12:40 PM
Previous filing
Jun 13, 2022
Next filing
Aug 31, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GRMN Registered Shares Award $0 +1.5K +27.69% $0.00 6.93K Jun 10, 2022 Direct F1, F2
holding GRMN Registered Shares 30K Jun 10, 2022 By trust
holding GRMN Registered Shares 22.7K Jun 10, 2022 By trust F3
holding GRMN Registered Shares 8.87M Jun 10, 2022 By CLATs F4
holding GRMN Registered Shares 8.87M Jun 10, 2022 By GRATs F5
holding GRMN Registered Shares 745K Jun 10, 2022 By trust F6
holding GRMN Registered Shares 368K Jun 10, 2022 By LLCs F7
holding GRMN Registered Shares 300K Jun 10, 2022 By GRATs F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Consists of restricted stock units ("RSUs") awarded to the reporting person under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan, which RSUs vest on June 10, 2023 and can be settled only in Registered Shares.
F2 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.
F3 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.
F4 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.
F5 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.
F6 The reporting person is a co-trustee of a GRAT remainder trust established for his benefit.
F7 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.
F8 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.