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GARMIN LTD — Director's Dealing 2010
Mar 30, 2010
30027_dirs_2010-03-30_6839e062-cbba-41a8-a1b6-22e6b9ad0bef.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2010-03-29
Reporting Person: ETKIND ANDREW R (VP, General Counsel, Secretary)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2010-03-29 | Common Shares | M | 10000 | $7.00 | Acquired | 43508 | Direct |
| 2010-03-29 | Common Shares | S | 10000 | $39.3059 | Disposed | 33508 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2010-03-29 | Employee stock option (right to buy) | $7.00 | M | 10000 | Disposed | 2010-12-07 | Common Shares (10000) | Direct |
Footnotes
F1: The price reported in Column 4 is a weighted average price. The Common Shares were sold in separate transactions on the same day at prices ranging from $38.94.to $39.94 per share. The reporting person undertakes to provide to Garmin Ltd., any security holder of Garmin Ltd., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Common Shares sold at each separate price within the range set forth in this Footnote.
F2: The stock option vested in five equal annual installments beginning on December 7, 2001
F3: The number of Common Shares reported in Column 5 includes (a) 1,115 shares held in the Garmin International, Inc. 401(k) Plan, (b) 2,057 shares net of tax withholding that were paid to the reporting person in December 2009 upon vesting of restricted stock units that were awarded to him in December 2008, (c) 12,000 unvested shares acquired pursuant to an award of 15,000 restricted stock units in December 2008 (the award vests in five equal installments beginning in December 2009), (d) 6,670 unvested shares acquired pursuant to an award of 6,670 restricted stock units in December 2009 (the award vests in five equal installments beginning in December 2010), and (e) 328 shares that were purchased for the reporting person's account in December 2009 as a participant in the Garmin Ltd. Employee Stock Purchase Plan.