GARMIN LTD — Director's Dealing 2011

Sep 8, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2011-09-07

Reporting Person: Huang Pao-Chang (General Manager - Garmin Corp.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-09-07	Common Shares	M	11000	$10.38	Acquired	35016	Direct
2011-09-07	Common Shares	S	2259	$32.44	Disposed	32757	Direct
2011-09-07	Common Shares	S	8741	$32.47	Disposed	24016	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-09-07	Employee stock option (right to buy)	$10.38	M	11000	Disposed	2011-12-21	Common Shares (11000)	Direct

Footnotes

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

F2: The number of shares reported in Column 5 includes (a) 7,200 unvested shares acquired pursuant to an award of 12,000 restricted stock units in December 2008 (the award vests in five equal annual installments beginning in December 2009), (b) 3,416 unvested shares acquired pursuant to an award of 4,270 restricted stock units in December 2009 (the award vests in five equal annual installments beginning in December 2010), and (c) 4,400 unvested shares acquired pursuant an award of 4,400 restricted stock units in December 2010 (the award vests in five equal annual installments beginning in December 2011).