| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | GRMN | Registered Shares | Sale | -$2.1M | -15K | -2.06% | $140.10 | 714K | Mar 7, 2024 | By trust | F7, F8 |
| transaction | GRMN | Registered Shares | Sale | -$2.12M | -15K | -2.1% | $141.55 | 699K | Mar 8, 2024 | By trust | F7, F9 |
| holding | GRMN | Registered Shares | 8.05K | Mar 7, 2024 | Direct | F1 | |||||
| holding | GRMN | Registered Shares | 233K | Mar 7, 2024 | By GRATs | F2 | |||||
| holding | GRMN | Registered Shares | 96.6K | Mar 7, 2024 | By trust | ||||||
| holding | GRMN | Registered Shares | 7.87M | Mar 7, 2024 | By GRATs | F3 | |||||
| holding | GRMN | Registered Shares | 9.22M | Mar 7, 2024 | By CLATs | F4 | |||||
| holding | GRMN | Registered Shares | 394K | Mar 7, 2024 | By LLCs | F5 | |||||
| holding | GRMN | Registered Shares | 31.8K | Mar 7, 2024 | By trust | F6 |
Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.
Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
| 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 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. |
| 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 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 the manager of several limited liability companies that are wholly-owned by a GRAT remainder trust established for the reporting person's benefit. |
| F6 | 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. |
| F7 | The reporting person is a co-trustee of a GRAT remainder trust established for his benefit. The reported sales of 30,000 shares occurred automatically pursuant to a Rule 10b5-1 trading plan adopted on December 1, 2023. |
| F8 | The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $140.00 to $140.505, inclusive. The reporting person undertakes to provide to Garmin Ltd., any security holder of Garmin Ltd., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range. |
| F9 | The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $141.06 to $141.87, inclusive. The reporting person undertakes to provide to Garmin Ltd., any security holder of Garmin Ltd., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range. |
Rule 10b5-1 trading plan adopted on December 1, 2023