GARMIN LTD — Director's Dealing 2011

Dec 16, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2011-12-14

Reporting Person: Biddlecombe Sean (Managing Director EMEA)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-12-14	Common Shares	A	1340	—	Acquired	9515	Direct
2011-12-10	Common Shares	F	169	$37.64	Disposed	9346	Direct
2011-12-11	Common Shares	F	161	$37.64	Disposed	9185	Direct
2011-12-12	Common Shares	F	382	$37.96	Disposed	8803	Direct

Footnotes

F1: Shares were acquired pursuant to a grant of restricted stock units under the Garmin Ltd. 2005 Equity Incentive Plan. The award vests in five equal annual installments beginning December 2012.

F2: The number of shares reported in Column 5 includes (a) 1,500 unvested shares acquired pursuant to a grant of 3,750 restricted stock units in December 2008 (the award vests in five equal annual installments beginning in December 2009), (b) 948 unvested shares acquired pursuant to a grant of 1,580 restricted stock units in December 2009 (the award vests in five equal annual installments beginning in December 2010), (c) 1,332 unvested shares that were acquired pursuant to a grant of 1,665 restricted stock units in December 2010 (the award vests in five equal annual installments beginning in December 2011), and (d) the 1,340 unvested shares that were acquired pursuant to the grant of restricted stock units reported in Column 4.

F3: On December 10, 2011, 333 shares that were acquired by the reporting person pursuant to the award of restricted stock units in December 2010 described in Footnote 2 vested and were paid to the reporting person. 169 of these 333 shares were withheld to pay the resulting tax liability.

F4: On December 11, 2011, 316 shares that were acquired by the reporting person pursuant to the award of restricted stock units in December 2009 described in Footnote 2 vested and were paid to the reporting person. 161 of these 316 shares were withheld to pay the resulting tax liability.

F5: On December 12, 2011, 750 shares that were acquired by the reporting person pursuant to the award of restricted stock units in December 2008 described in Footnote 2 vested and were paid to the reporting person. 382 of these 750 shares were withheld to pay the resulting tax liability.