Statement of Changes in Beneficial Ownership (4)
June 07 2021 - 11:37AM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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3235-0287
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
BURRELL JONATHAN |
2. Issuer Name and Ticker or Trading Symbol
GARMIN LTD
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GRMN
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below)
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(Last)
(First)
(Middle)
6300 WEST 143RD STREET |
3. Date of Earliest Transaction
(MM/DD/YYYY)
6/4/2021 |
(Street)
OVERLAND PARK, KS 66223
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Registered Shares | 6/4/2021 | | A | | 1045 (1) | A | $0 | 6303 (2) | D | |
Registered Shares | 6/5/2021 | | F | | 399 (3) | D | $143.64 | 5904 (4) | D | |
Registered Shares | | | | | | | | 30000 | I | By trust |
Registered Shares | | | | | | | | 1608151 | I | By trust (5) |
Registered Shares | | | | | | | | 8948049 | I | By CLATs (6) |
Registered Shares | | | | | | | | 9985420 | I | By GRATs (7) |
Registered Shares | | | | | | | | 469358 | I | By trust (8) |
Registered Shares | | | | | | | | 43478 | I | By LLC (9) |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Explanation of Responses: |
(1) | 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 4, 2022 and can be settled only in Registered Shares. |
(2) | Consists of (a) 2,799 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: (i) RSUs granted on June 5, 2020 that vest as to 1,594 shares on June 5, 2021; (ii) RSUs granted on June 8, 2018 that vest as to 865 shares on June 8, 2021; and (iii) RSUs granted on June 4, 2021 that vest as to 1,045 shares on June 4, 2022. |
(3) | Consists of Registered Shares withheld to pay taxes resulting from the June 5, 2021 vesting and settlement of RSUs awarded to the reporting person with respect to 1,594 Registered Shares. |
(4) | Consists of (a) 3,994 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: (i) RSUs granted on June 8, 2018 that vest as to 865 shares on June 8, 2021; and (ii) RSUs granted on June 4, 2021 that vest as to 1,045 shares on June 4, 2022. |
(5) | 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. |
(6) | 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. |
(7) | 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. |
(8) | The reporting person is a co-trustee of a GRAT remainder trust established for his benefit. |
(9) | The reporting person is the manager of a limited liability company, which is wholly-owned by a GRAT remainder trust established for the reporting person's benefit. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
BURRELL JONATHAN 6300 WEST 143RD STREET OVERLAND PARK, KS 66223 | X | X |
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Signatures
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/s/ Jonathan Burrell | | 6/5/2021 |
**Signature of Reporting Person | Date |
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