AG˹ٷ

STOCK TITAN

[Form 4] Garmin Ltd Insider Trading Activity

Filing Impact
(High)
Filing Sentiment
(Negative)
Form Type
4
Rhea-AI Filing Summary

Wang Cheng-Wei, identified as a Director and General Manager of Garmin Corp., reported sales of Garmin Ltd. (GRMN) stock on 08/27/2025. The filing shows two sell transactions executed that day: 8,915 shares sold at a weighted-average price of $232.366 and 1,287 shares sold at a weighted-average price of $233.2842. Following those transactions the reporting person is shown as beneficially owning 37,379 and 36,092 shares respectively. The filing notes that the post-transaction holdings include 7,087 unvested restricted stock units and 56 shares from the June 2025 Employee Stock Purchase Plan. The Form 4 is signed by an attorney-in-fact for the reporting person.

Wang Cheng-Wei, indicato come direttore e direttore generale di Garmin Corp., ha segnalato la vendita di azioni di Garmin Ltd. (GRMN) il 27/08/2025. La comunicazione riporta due operazioni di vendita effettuate quel giorno: 8.915 azioni vendute a un prezzo medio ponderato di $232,366 e 1.287 azioni vendute a un prezzo medio ponderato di $233,2842. Dopo tali operazioni, la persona segnalante risulta titolare beneficiario di 37.379 e 36.092 azioni rispettivamente. Il documento precisa che le partecipazioni post-operazione includono 7.087 unità di azioni vincolate non ancora maturate e 56 azioni provenienti dal Piano di Acquisto Azionario per Dipendenti di giugno 2025. Il Modulo 4 è firmato da un mandatario autorizzato per la persona che ha effettuato la segnalazione.

Wang Cheng-Wei, identificado como director y gerente general de Garmin Corp., informó ventas de acciones de Garmin Ltd. (GRMN) el 27/08/2025. La presentación muestra dos transacciones de venta realizadas ese día: 8.915 acciones vendidas a un precio medio ponderado de $232,366 y 1.287 acciones vendidas a un precio medio ponderado de $233,2842. Tras esas operaciones, la persona informante figura como titular beneficiario de 37.379 y 36.092 acciones, respectivamente. La presentación señala que las participaciones posteriores a las transacciones incluyen 7.087 unidades de acciones restringidas no adquiridas y 56 acciones del Plan de Compra de Acciones para Empleados de junio de 2025. El Formulario 4 está firmado por un apoderado en nombre de la persona que presenta la información.

Wang Cheng-Wei� Garmin Corp.� 이사 � 총괄 관리자(Director and General Manager)� 표기되어 있으�, 2025� 8� 27� Garmin Ltd.(GRMN) 주식 매도� 신고했습니다. 제출서류에는 그날 실행� � 건의 매도 거래가 기재되어 있습니다: 가중평균가 $232.366� 8,915� 매도가중평균가 $233.2842� 1,287� 매도. 해당 거래 이후 보고자는 각각 37,379�36,092�� 실질� 소유자로 보유� 것으� 표시됩니�. 제출서류에는 거래 � 보유주식� 미확� 제한주식 단위 7,087�2025� 6� 직원 주식매수계획으로 인한 56�가 포함되어 있다� 기재되어 있습니다. 해당 Form 4� 보고인을 대신한 법정대리인(대리인)� 서명했습니다.

Wang Cheng-Wei, désigné comme directeur et directeur général de Garmin Corp., a déclaré des ventes d'actions Garmin Ltd. (GRMN) le 27/08/2025. Le dossier indique deux transactions de vente exécutées ce jour-là : 8 915 actions vendues à un prix moyen pondéré de 232,366 $ et 1 287 actions vendues à un prix moyen pondéré de 233,2842 $. Après ces transactions, la personne déclarante est indiquée comme détenteur bénéficiaire de 37 379 et 36 092 actions respectivement. Le document précise que les avoirs post-transaction incluent 7 087 unités d'actions restreintes non acquises et 56 actions issues du Plan d'Achat d'Actions des Employés de juin 2025. Le formulaire 4 est signé par un mandataire au nom de la personne déclarante.

Wang Cheng-Wei, ausgewiesen als Direktor und General Manager von Garmin Corp., meldete am 27.08.2025 den Verkauf von Aktien der Garmin Ltd. (GRMN). Die Einreichung weist zwei an diesem Tag ausgeführte Verkaufsaufträge aus: 8.915 verkaufte Aktien zu einem gewichteten Durchschnittspreis von $232,366 und 1.287 verkaufte Aktien zu einem gewichteten Durchschnittspreis von $233,2842. Nach diesen Transaktionen wird die meldende Person als wirtschaftlicher Eigentümer von jeweils 37.379 bzw. 36.092 Aktien geführt. Die Einreichung vermerkt, dass die Bestände nach den Transaktionen 7.087 unverfallbare Restricted Stock Units und 56 Aktien aus dem Employee Stock Purchase Plan von Juni 2025 enthalten. Das Formular 4 ist von einem Bevollmächtigten im Namen der meldenden Person unterschrieben.

Positive
  • Detailed disclosure of sale prices with weighted-average prices and price ranges provided
  • Breakdown of post-transaction holdings including unvested RSUs and ESPP shares aids transparency
  • Form properly signed by an attorney-in-fact, indicating procedural compliance
Negative
  • Insider sold 10,202 shares on 08/27/2025, which is a disposition of company stock
  • No information provided in this filing on whether sales were pursuant to a 10b5-1 plan or other predetermined arrangement

Insights

TL;DR: Insider sales were disclosed: two block sales on 08/27/2025 at ~$232�$233 per share, with post-sale holdings detailed.

The filing reports two discrete sale transactions by Wang Cheng-Wei totaling 10,202 shares sold on 08/27/2025 at weighted-average prices of $232.366 and $233.2842. The report clearly itemizes the components of remaining beneficial ownership, including 7,087 unvested RSUs and 56 ESPP shares, which helps reconcile the reported holdings. From an analytical perspective, the disclosure meets Section 16 requirements and provides necessary granularity on execution price ranges. The filing does not provide company-wide context or the percentage these holdings represent of total outstanding shares, so materiality for valuation is not determinable from this document alone.

TL;DR: The Form 4 appears procedurally complete, showing insider disposition and the composition of retained holdings.

The report specifies relationship to the issuer as Director and Officer (General Manager - Garmin Corp.) and lists an attorney-in-fact signature, indicating proper execution. The explanatory footnotes disclose execution price ranges and the composition of retained shares, which improves transparency for investors and regulators. The filing contains no statements about any 10b5-1 plan or other trading arrangement, and it does not allege any amendment to prior filings. Based solely on the form's contents, disclosure governance practices are evidenced by clear itemization of transactions and holdings.

Wang Cheng-Wei, indicato come direttore e direttore generale di Garmin Corp., ha segnalato la vendita di azioni di Garmin Ltd. (GRMN) il 27/08/2025. La comunicazione riporta due operazioni di vendita effettuate quel giorno: 8.915 azioni vendute a un prezzo medio ponderato di $232,366 e 1.287 azioni vendute a un prezzo medio ponderato di $233,2842. Dopo tali operazioni, la persona segnalante risulta titolare beneficiario di 37.379 e 36.092 azioni rispettivamente. Il documento precisa che le partecipazioni post-operazione includono 7.087 unità di azioni vincolate non ancora maturate e 56 azioni provenienti dal Piano di Acquisto Azionario per Dipendenti di giugno 2025. Il Modulo 4 è firmato da un mandatario autorizzato per la persona che ha effettuato la segnalazione.

Wang Cheng-Wei, identificado como director y gerente general de Garmin Corp., informó ventas de acciones de Garmin Ltd. (GRMN) el 27/08/2025. La presentación muestra dos transacciones de venta realizadas ese día: 8.915 acciones vendidas a un precio medio ponderado de $232,366 y 1.287 acciones vendidas a un precio medio ponderado de $233,2842. Tras esas operaciones, la persona informante figura como titular beneficiario de 37.379 y 36.092 acciones, respectivamente. La presentación señala que las participaciones posteriores a las transacciones incluyen 7.087 unidades de acciones restringidas no adquiridas y 56 acciones del Plan de Compra de Acciones para Empleados de junio de 2025. El Formulario 4 está firmado por un apoderado en nombre de la persona que presenta la información.

Wang Cheng-Wei� Garmin Corp.� 이사 � 총괄 관리자(Director and General Manager)� 표기되어 있으�, 2025� 8� 27� Garmin Ltd.(GRMN) 주식 매도� 신고했습니다. 제출서류에는 그날 실행� � 건의 매도 거래가 기재되어 있습니다: 가중평균가 $232.366� 8,915� 매도가중평균가 $233.2842� 1,287� 매도. 해당 거래 이후 보고자는 각각 37,379�36,092�� 실질� 소유자로 보유� 것으� 표시됩니�. 제출서류에는 거래 � 보유주식� 미확� 제한주식 단위 7,087�2025� 6� 직원 주식매수계획으로 인한 56�가 포함되어 있다� 기재되어 있습니다. 해당 Form 4� 보고인을 대신한 법정대리인(대리인)� 서명했습니다.

Wang Cheng-Wei, désigné comme directeur et directeur général de Garmin Corp., a déclaré des ventes d'actions Garmin Ltd. (GRMN) le 27/08/2025. Le dossier indique deux transactions de vente exécutées ce jour-là : 8 915 actions vendues à un prix moyen pondéré de 232,366 $ et 1 287 actions vendues à un prix moyen pondéré de 233,2842 $. Après ces transactions, la personne déclarante est indiquée comme détenteur bénéficiaire de 37 379 et 36 092 actions respectivement. Le document précise que les avoirs post-transaction incluent 7 087 unités d'actions restreintes non acquises et 56 actions issues du Plan d'Achat d'Actions des Employés de juin 2025. Le formulaire 4 est signé par un mandataire au nom de la personne déclarante.

Wang Cheng-Wei, ausgewiesen als Direktor und General Manager von Garmin Corp., meldete am 27.08.2025 den Verkauf von Aktien der Garmin Ltd. (GRMN). Die Einreichung weist zwei an diesem Tag ausgeführte Verkaufsaufträge aus: 8.915 verkaufte Aktien zu einem gewichteten Durchschnittspreis von $232,366 und 1.287 verkaufte Aktien zu einem gewichteten Durchschnittspreis von $233,2842. Nach diesen Transaktionen wird die meldende Person als wirtschaftlicher Eigentümer von jeweils 37.379 bzw. 36.092 Aktien geführt. Die Einreichung vermerkt, dass die Bestände nach den Transaktionen 7.087 unverfallbare Restricted Stock Units und 56 Aktien aus dem Employee Stock Purchase Plan von Juni 2025 enthalten. Das Formular 4 ist von einem Bevollmächtigten im Namen der meldenden Person unterschrieben.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a 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). See Instruction 10.
1. Name and Address of Reporting Person*
Wang Cheng-Wei

(Last) (First) (Middle)
NO. 68, ZHANGSHU 2ND ROAD
XIZHI DISTRICT

(Street)
NEW TAIPEI CITY F5 220-019

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
GARMIN LTD [ GRMN ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
General Manager - Garmin Corp.
3. Date of Earliest Transaction (Month/Day/Year)
08/27/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Registered Shares 08/27/2025 S 8,915 D $232.366(1) 37,379(2) D
Registered Shares 08/27/2025 S 1,287 D $233.2842(3) 36,092(2) D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction 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 (Month/Day/Year) 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: 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. This transaction was executed in multiple trades at prices ranging from $231.98 to $232.97. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.
2. Includes (i) 7,087 unvested shares acquired pursuant to previously granted restricted stock unit awards and (ii) 56 shares acquired in June 2025 under the Garmin Ltd. Employee Stock Purchase Plan.
3. This transaction was executed in multiple trades at prices ranging from $232.98 to $233.76. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.
/s/ Paul E. Cassat, as attorney-in-fact for Wang Cheng-Wei 08/27/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did Wang Cheng-Wei report on Form 4 for GRMN?

The Form 4 reports two sales on 08/27/2025: 8,915 shares sold at a weighted-average price of $232.366 and 1,287 shares sold at a weighted-average price of $233.2842.

How many shares does Wang Cheng-Wei beneficially own after the reported transactions?

The filing shows beneficial ownership figures of 37,379 and 36,092 shares following the respective reported transactions.

Does the Form 4 explain the composition of the remaining holdings?

Yes. The filing states the post-transaction holdings include 7,087 unvested restricted stock units and 56 shares from the June 2025 Employee Stock Purchase Plan.

Was the Form 4 properly executed?

The Form 4 is signed on 08/27/2025 by Paul E. Cassat as attorney-in-fact for Wang Cheng-Wei, indicating execution of the filing.

Are execution price ranges disclosed for the sales?

Yes. Footnotes disclose execution price ranges: $231.98 to $232.97 for the larger sale and $232.98 to $233.76 for the smaller sale, with weighted averages reported.
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