GARMIN LTD — Director's Dealing 2012

Nov 29, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2012-11-28

Reporting Person: Bartel Danny J (Vice President,Worldwide Sales)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-11-28	Registered Shares	M	10000	$14.90	Acquired	79111	Direct
2012-11-28	Registered Shares	S	10000	$38.52	Disposed	69111	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-11-28	Employee stock option (right to buy)	$14.90	M	10000	Disposed	2012-12-26	Registered Shares (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Registered Shares	1400	Indirect

Footnotes

F1: 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), (d) 3,760 unvested shares that were acquired pursuant to the grant of 3,760 restricted stock units on December 14, 2011 (the award vests in five equal annual installments beginning on December 14, 2012), and (e) 130 shares purchased in December 2011 and 631 shares purchased in June 2012 for the reporting person's account under the employee stock purchase plan.

F2: This is a weighted average price. The Registered Shares were sold in separate transactions on the same day at prices ranging from $38.50 to $38.60 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 26, 2003.