Jonathan Burrell - Sep 11, 2023 Form 4 Insider Report for GARMIN LTD (GRMN)

Role
Director
Signature
/s/Jonathan Burrell
Stock symbol
GRMN
Transactions as of
Sep 11, 2023
Transactions value $
$0
Form type
4
Date filed
9/13/2023, 04:55 PM
Previous filing
Jun 13, 2023
Next filing
Dec 1, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GRMN Registered Shares Gift $0 +410K $0.00 410K Sep 11, 2023 By trust F2
transaction GRMN Registered Shares Gift $0 -410K -5.1% $0.00 7.64M Sep 11, 2023 By GRATs F3
transaction GRMN Registered Shares Gift $0 +410K +5.37% $0.00 8.05M Sep 12, 2023 By GRATs F3
transaction GRMN Registered Shares Gift $0 -410K -100% $0.00* 0 Sep 12, 2023 By trust F2
transaction GRMN Registered Shares Gift $0 +33K +19.71% $0.00 200K Sep 13, 2023 By GRATs F4
transaction GRMN Registered Shares Gift $0 -33K -20.3% $0.00 130K Sep 13, 2023 By trust
holding GRMN Registered Shares 8.05K Sep 11, 2023 Direct F1
holding GRMN Registered Shares 9.36M Sep 11, 2023 By CLATs F5
holding GRMN Registered Shares 774K Sep 11, 2023 By trust F6
holding GRMN Registered Shares 394K Sep 11, 2023 By LLCs F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Consists of (a) 6,551 Registered Shares, and (b) unvested restricted stock units (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 vest as to 1,501 shares on June 9, 2024.
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 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.
F4 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.
F5 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.
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.