GARMIN LTD — Director's Dealing 2012

Dec 11, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2012-12-10

Reporting Person: RAUCKMAN KEVIN (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-12-10	Registered Shares	A	5127	—	Acquired	38861	Direct
2012-12-10	Registered Shares	F	419	$41.82	Disposed	38442	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-12-10	Stock option (right to buy)	$42.16	A	15975	Acquired	2022-12-10	Registered Shares (15975)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Registered Shares	300	Indirect
Registered Shares	5100	Indirect

Footnotes

F1: Shares were acquired pursuant to a grant of restricted stock units under the Garmin Ltd. 2005 Equity Incentive Compensation Plan. The award vests in three equal annual installments beginning on December 10, 2013.

F2: Includes (a) 5,332 unvested shares acquired pursuant to an award of 6,665 restricted stock units on December 10, 2010 (the award vests in five equal annual installments), (b) 4,002 unvested shares acquired pursuant to an award of 6,670 restricted stock units on December 11, 2009 (the award vests in five equal annual installments), (c) 6,000 unvested shares that were acquired pursuant to a grant of 15,000 restricted stock units on December 12, 2008 (the award vests in five equal annual installments), (d) 5,370 unvested shares acquired pursuant to the award of 5,370 restricted stock units on December 14, 2011 (the award vests in five equal annual installments), and (e) 5,127 unvested shares acquired pursuant to the award of 5,127 restricted stock units on December 10, 2012 (the award vests in three equal annual installments).

F3: On December 10, 2012, 1,333 shares that were acquired by the reporting person pursuant to the award of restricted stock units in December 2010 vested and were paid to the reporting person. 419 of these 1333 shares were withheld to pay the resulting tax liability.

F4: Includes (a) 3,999 unvested shares acquired pursuant to an award of 6,665 restricted stock units on December 10, 2010 (the award vests in five equal annual installments), (b) 4,002 unvested shares acquired pursuant to an award of 6,670 restricted stock units on December 11, 2009 (the award vests in five equal annual installments), (c) 6,000 unvested shares that were acquired pursuant to a grant of 15,000 restricted stock units on December 12, 2008 (the award vests in five equal annual installments), (d) 5,370 unvested shares acquired pursuant to the award of 5,370 restricted stock units on December 14, 2011 (the award vests in five equal annual installments), and (e) 5,127 unvested shares acquired pursuant to the award of 5,127 restricted stock units on December 10, 2012 (the award vests in three equal annual installments).

F5: The stock option vests in five equal annual installments.