AI assistant
GARMIN LTD — Director's Dealing 2010
Dec 2, 2010
30027_dirs_2010-12-02_ebb86c18-f5b0-4ed0-a867-1d02670da1ea.zip
Director's Dealing
Open in viewerOpens in your device viewer
SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2010-11-30
Reporting Person: KELLEY GARY V (Vice President - Marketing)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2010-11-30 | Common Shares | S | 692 | $28.951 | Disposed | 6857 | Direct |
| 2010-11-30 | Common Shares | M | 1500 | $21.59 | Acquired | 8357 | Direct |
| 2010-11-30 | Common Shares | F | 1241 | $28.86 | Disposed | 7116 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2010-11-30 | Stock Appreciation Right | $21.59 | M | 1500 | Disposed | 2015-06-23 | Common Shares (1500) | 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 $28.95 to $28.96 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 number of Common Shares reported in Column 5 includes (a) 3,600 unvested shares acquired pursuant to an award of 4,500 restricted stock units in December 2008 (the award vests in five equal annual installments beginning in December 2009), (b) 1,920 unvested shares acquired pursuant to an award of 1,920 restricted stock units in December 2009 (the award vests in five euqal annual installments beginning in December 2010, and (c) 375 shares that were purchased for the reporting person's account in June 2010 as a participant in the Garmin Ltd. Employee Stock Purchase Plan.
F3: These shares were delivered or withheld as payment of the exercise price and tax liability related to the exercise of the Stock Appreciation Right dislosed in Table II of this Form 4.
F4: The stock appreciation right vested in five equal annual installments beginninig on June 23, 2006.