SEC Form 4 · accession 0001014108-18-000179
GARMIN LTD · GRMN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jonathan Burrell
Director · 10% Owner
Period of report
Aug 6, 2018
Accepted (ET)
Aug 6, 2018 · 5:04 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001121788
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Registered SharesF2 | Aug 6, 2018 | G | 2,000,000 | $0.00 | D | 705,070 | I | By trust |
| Registered SharesF2 | Aug 6, 2018 | G | 279,000 | $0.00 | A | 984,070 | I | By trust |
| Registered SharesF4 | Aug 6, 2018 | G | 2,000,000 | $0.00 | A | 13,577,000 | I | By GRATs |
| Registered SharesF4 | Aug 6, 2018 | G | 279,000 | $0.00 | D | 13,298,000 | I | By GRATs |
| Registered SharesF1 | holding | — | — | — | 2,594 | D | ||
| Registered Shares | holding | — | — | — | 30,000 | I | By trust | |
| Registered SharesF3 | holding | — | — | — | 8,720,050 | I | By CLATs |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Consists of restricted stock units ("RSUs") awarded to the reporting person under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan, which RSUs vest in three equal annual installments beginning on June 8, 2019 and can be settled only in Registered Shares.
- F2The 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 report securities except to the extent of his pecuniary interest therein.
- F3The 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.
- F4The reporting person is a co-trustee of several grantor retained annuity trust (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.