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: Bartel Danny J (Vice President,Worldwide Sales)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-12-10	Common Shares	F	293	$37.64	Disposed	65637	Direct
2011-12-11	Common Shares	F	293	$37.64	Disposed	65344	Direct
2011-12-12	Common Shares	F	754	$37.96	Disposed	64590	Direct
2011-12-14	Common Shares	A	3760	—	Acquired	68350	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	1400	Indirect

Footnotes

F1: On December 10, 2011, 933 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. 293 of these 933 shares were withheld to pay the resulting tax liability.

F2: The number of Common Shares reported in Row 1 of Column 5 includes (a) 3,732 unvested shares acquired pursuant to an award of 4,665 restricted stock units on December 10, 2010 (the award vests in five equal annual installments beginning on December 10, 2011), (b) 3,736 unvested shares acquired pursuant to an award of 4,670 restricted stock units on December 11, 2009 (the award vests in five equal annual installments beginning on December 11, 2010), and (c) 7,200 unvested shares that were acquired pursuant to a grant of 12,000 restricted stock units on December 12, 2008 (the award vests in five equal annual installments beginning on December 12, 2009).

F3: On December 11, 2011, 934 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. 293 of these 934 shares were withheld to pay the resulting tax liability.

F4: The number of Common Shares reported in Row 2 of Column 5 includes (a) 3,732 unvested shares acquired pursuant to an award of 4,665 restricted stock units on December 10, 2010 (the award vests in five equal annual installments beginning on December 10, 2011), (b) 2,802 unvested shares acquired pursuant to an award of 4,670 restricted stock units on December 11, 2009 (the award vests in five equal annual installments beginning on December 11, 2010), and (c) 7,200 unvested shares that were acquired pursuant to a grant of 12,000 restricted stock units on December 12, 2008 (the award vests in five equal annual installments beginning on December 12, 2009).

F5: On December 12, 2011, 2400 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. 754 of these 2400 shares were withheld to pay the resulting tax liability.

F6: The number of Common Shares reported in Row 3 of Column 5 includes (a) 3,732 unvested shares acquired pursuant to an award of 4,665 restricted stock units on December 10, 2010 (the award vests in five equal annual installments beginning on December 10, 2011), (b) 2,802 unvested shares acquired pursuant to an award of 4,670 restricted stock units on December 11, 2009 (the award vests in five equal annual installments beginning on December 11, 2010), and (c) 4,800 unvested shares that were acquired pursuant to a grant of 12,000 restricted stock units on December 12, 2008 (the award vests in five equal annual installments beginning on December 12, 2009).

F7: 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.

F8: The number of Common Shares reported in Row 4 of Column 5 includes (a) 3,732 unvested shares acquired pursuant to an award of 4,665 restricted stock units on December 10, 2010 (the award vests in five equal annual installments beginning on December 10, 2011), (b) 2,802 unvested shares acquired pursuant to an award of 4,670 restricted stock units on December 11, 2009 (the award vests in five equal annual installments beginning on December 11, 2010), (c) 4,800 unvested shares that were acquired pursuant to a grant of 12,000 restricted stock units on December 12, 2008 (the award vests in five equal annual installments beginning on December 12, 2009), and (d) the 3,760 unvested shares that were acquired pursuant to the award of restricted stock units disclosed in Row 4 of Column 4.