GARMIN LTD — Director's Dealing 2012

May 24, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2012-05-23

Reporting Person: Peffer Charles (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-23	Common Shares	M	2658	$18.13	Acquired	9257	Direct
2012-05-23	Common Shares	M	2750	$21.83	Acquired	12007	Direct
2012-05-23	Common Shares	S	2470	$43.83	Disposed	9537	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-23	Stock option (right to buy)	$18.13	M	2658	Disposed	2014-08-16	Common Shares (2658)	Direct
2012-05-23	Stock option (right to buy)	$21.83	M	2750	Disposed	2015-06-06	Common Shares (2750)	Direct

Footnotes

F1: The stock option vested in three equal annual installments beginning on August 16, 2005.

F2: The stock option vested in three equal annual installments beginning on June 6, 2006.

F3: The number of Common Shares reported in Column 5 includes 2,999 unvested shares acquired pursuant to an award of 2,999 restricted stock units on June 3, 2011 (the award vests in three equal annual installments beginning on June 3, 2012).