KAO MIN H

The aggregate volume — 27.2M shares transferred via gift across the entire reporting history — represents a very large personal stake being dismantled over time. For context, Garmin has approximately 180M shares outstanding at typical float levels; 27.2M shares is a meaningful fraction of the company's insider ownership block. The pace of the gifting — multiple transactions per year, often in tranches of 2,000-5,000 shares — is consistent with annual gift-tax exclusion limits in the U.S. (roughly $18,000 per recipient per year in 2026), suggesting the insider is methodically transferring wealth to family members across tax years.

The recent transactions in May and June 2026 show the same pattern continuing: gifts of 2,083 to 4,345 shares with no price and no accompanying buy or sell. The absence of any market transaction (P for purchase, S for sale) anywhere in the 633-transaction history is notable: this insider has never monetized any Garmin stake through the open market, either as a buyer or as a seller. The wealth transfer is the entire public record.