GARMIN LTD — Director's Dealing 2010

Nov 10, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2010-11-08

Reporting Person: RAUCKMAN KEVIN (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-11-08	Common Shares	S	2990	$30.485	Disposed	23091	Direct
2010-11-08	Common Shares	M	10601	$14.90	Acquired	33692	Direct
2010-11-08	Common Shares	M	4399	$14.90	Acquired	38091	Direct
2010-11-08	Common Shares	S	15000	$30.483	Disposed	23091	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-11-08	Employee Stock Option (Right to Buy)	$14.90	M	10601	Disposed	2012-12-26	Common Shares (10601)	Direct
2010-11-08	Employee Stock Option (Right to Buy)	$14.90	M	4399	Disposed	2012-12-26	Common Shares (4399)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	300	Indirect
Common Shares	5100	Indirect

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 $30.48 to $30.49 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 shares reported in Column 5 includes: (a) 12,000 Common Shares that were acquired on December 12, 2008 pursuant to a grant of 15,000 restricted stock units under the Garmin Ltd. 2005 Equity
Incentive Plan, which award vests in five equal annual installments beginning December 12, 2009; (b) 6,670 Common Shares that were acquired on December 11, 2009 pursuant to a grant of restricted stock units under the
Garmin Ltd. 2005 Equity Incentive Plan, which award vests in five equal annual installments beginning December 11, 2010; and (c) 295 shares that were purchased for the reporting person's account under the Garmin Ltd. Employee Stock Purchase Plan in June 2010.

F3: The stock option vested in five equal annual installments commencing on December 26, 2003.