Garmin Ltd. Files 8-K on Officer Changes and Compensation
Ticker: GRMN · Form: 8-K · Filed: Jun 24, 2024 · CIK: 1121788
Sentiment: neutral
Topics: corporate-governance, executive-compensation, officer-changes
Related Tickers: GRMN
TL;DR
Garmin 8-K: Officer changes, director elections, and comp details filed 6/24.
AI Summary
Garmin Ltd. filed an 8-K on June 24, 2024, reporting on the departure of directors or certain officers, the election of directors, the appointment of certain officers, and compensatory arrangements. The filing also includes Regulation FD disclosures and financial statements/exhibits.
Why It Matters
This filing provides crucial updates on Garmin's corporate governance and executive compensation, which can impact investor confidence and the company's strategic direction.
Risk Assessment
Risk Level: low — This is a routine corporate filing detailing personnel and compensation matters, not indicating immediate financial distress or significant operational changes.
Key Players & Entities
- GARMIN LTD. (company) — Registrant
- June 24, 2024 (date) — Date of earliest event reported
FAQ
What specific officer positions were affected by the changes reported in this 8-K?
The filing indicates changes related to 'Departure of Directors or Certain Officers' and 'Appointment of Certain Officers', but the specific positions are not detailed in the provided excerpt.
Were there any new directors elected according to this filing?
Yes, the filing explicitly mentions 'Election of Directors' as a reported item.
What type of compensatory arrangements are discussed in this report?
The filing notes 'Compensatory Arrangements of Certain Officers' as a reported item, suggesting details regarding executive pay.
Does this 8-K filing include any financial statements?
Yes, the filing lists 'Financial Statements and Exhibits' as part of the reported information.
What is Garmin Ltd.'s jurisdiction of incorporation?
Garmin Ltd. is incorporated in Switzerland.
Filing Stats: 889 words · 4 min read · ~3 pages · Grade level 9.8 · Accepted 2024-06-24 09:15:14
Key Financial Figures
- $0.10 — n which registered Registered Shares, $0.10 Per Share Par Value GRMN New York S
- $875,000 — annual base salary will continue to be $875,000, and Mr. Trenkle's annual base salary w
- $550,000 — annual base salary will continue to be $550,000. In addition, compensation for Mr. Desb
Filing Documents
- grmn-20240624.htm (8-K) — 46KB
- grmn-ex99_1.htm (EX-99.1) — 12KB
- img45548057_0.jpg (GRAPHIC) — 24KB
- 0000950170-24-076475.txt ( ) — 211KB
- grmn-20240624.xsd (EX-101.SCH) — 30KB
- grmn-20240624_htm.xml (XML) — 4KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure On June 24, 2024, in connection with the announcement of Mr. Desbois's and Mr. Trenkle's appointments as co-Chief Operating Officers, the Company issued a press release, a copy of which is attached as Exhibit 99.1 and is incorporated by reference in this Item 7.01. Information in this Item 7.01, including the press release attached hereto as Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Exchange Act.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits. The following exhibits are furnished herewith. Exhibit No. Description 99.1 Press Release dated June 24, 2024 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL (included as Exhibit 101) 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GARMIN LTD . June 24, 2024 /s/ Andrew R. Etkind Andrew R. Etkind Vice President, General Counsel and Corporate Secretary 2