SEC Form 4 · accession 0001014108-18-000238
GARMIN LTD · GRMN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jonathan Burrell
Director · 10% Owner
Period of report
Dec 29, 2017
Accepted (ET)
Dec 31, 2018 · 10:01 am EST
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 SharesF3,F4 | Dec 29, 2017 | G | 153,500 | $0.00 | D | 8,566,550 | I | By CLATs |
| Registered SharesF4 | Dec 28, 2018 | G | 153,500 | $0.00 | D | 8,413,050 | I | By CLATs |
| Registered SharesF1 | holding | — | — | — | 2,594 | D | ||
| Registered Shares | holding | — | — | — | 30,000 | I | By trust | |
| Registered SharesF2 | holding | — | — | — | 2,637,470 | I | By trust | |
| Registered SharesF5 | holding | — | — | — | 11,644,600 | I | By GRATs |
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 reported securities except to the extent of his pecuniary interest therein.
- F3The reporting person inadvertently failed to report the December 29, 2017 gift of these 153,500 shares, and therefore the number of shares reflected on the Form 4 reports filed by the reporting person subsequent to that date and prior to this report was overstated by the amount of these shares.
- F4The 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.
- F5The 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.