GARMIN LTD — Director's Dealing 2010

Dec 17, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2010-12-17

Reporting Person: ETKIND ANDREW R (VP, General Counsel, Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-12-17	Common Shares	M	9000	$10.38	Acquired	46411	Direct
2010-12-17	Common Shares	S	2104	$32.10	Disposed	44307	Direct
2010-12-17	Common Shares	S	4800	$32.05	Disposed	39507	Direct
2010-12-17	Common Shares	S	2096	$32.03	Disposed	37411	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-12-17	Employee stock option (right to buy)	$10.38	M	9000	Disposed	2011-12-21	Common Shares (9000)	Direct

Footnotes

F1: Stock option vested in five equal annual installments beginning on December 21, 2002.

F2: The number of Common Shares reported in Column 5 include (a) 9,000 unvested shares acquired pursuant to an award of 15,000 restricted stock units in December 2008 (the award vests in five equal annual installments beginning in December 2009), (b) 5,336 unvested shares acquired pursuant to an award of 6,670 restricted stock units in December 2009 (the award vests in five equal annual installments beginning in December 2010), and (c) 6,665 shares that were acquired pursuant to a grant of restricted stock units in December 2010 (the award vests in five equal annual installments beginning in December 2011).