GARMIN LTD — Director's Dealing 2012

Dec 26, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2012-12-21

Reporting Person: Straub Philip (VP, Man. Director - Aviation)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-12-21	Registered Shares	M	10000	$27.27	Acquired	41198	Direct
2012-12-21	Registered Shares	S	10000	$40.971	Disposed	31198	Direct
2012-12-21	Registered Shares	S	301	$41.011	Disposed	30897	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-12-21	Employee stock option (right to buy)	$27.27	M	10000	Disposed	2013-12-23	Registered Shares (10000)	Direct

Footnotes

F1: Includes (a) 2,400 unvested shares acquired pursuant to an award of 4,000 restricted stock units on December 10, 2010 (the award vests in five equal annual installments), (b) 1,600 unvested shares acquired pursuant to an award of 4,000 restricted stock units on December 11, 2009 (the award vests in five equal annual installments), (c) 2,000 unvested shares that were acquired pursuant to a grant of 10,000 restricted stock units on December 12, 2008 (the award vests in five equal annual installments), (d) 3,008 unvested shares acquired pursuant to the award of 3,760 restricted stock units on December 14, 2011 (the award vests in five equal annual installments), and (e) 4,488 unvested shares acquired pursuant to the award of 4,448 restricted stock units on December 10, 2012 (the award vests in three equal annual installments).

F2: This is a weighted average price. The Registered Shares were sold in separate transactions on the same day at prices ranging from $40.96 to $41.011 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 Registered Shares sold at each separate price within the range set forth in this Footnote.

F3: The stock option vested in five equal annual installments beginning on December 23, 2004.