GARMIN LTD — Director's Dealing 2012

Oct 2, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2012-09-28

Reporting Person: RAUCKMAN KEVIN (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-09-28	Registered Shares	M	15000	$27.27	Acquired	48734	Direct
2012-09-28	Registered Shares	S	15000	$41.66	Disposed	33734	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-09-28	Employee stock option (right to buy)	$27.27	M	15000	Disposed	2013-12-23	Registered Shares (15000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Registered Shares	300	Indirect
Registered Shares	5100	Indirect

Footnotes

F1: The stock option vested in five equal annual installments, beginning on December 23, 2004.

F2: The number of Registered Shares reported in Column 5 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 beginning on December 10, 2011), (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 beginning on December 11, 2010), (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 beginning on December 12, 2009), (d) 5,370 unvested shares acquired pursuant to the award of restricted stock units on December 14, 2011 (the award vests in five equal annual installments beginning on December 14, 2012), and (e) 460 shares acquired by the reporting person in June 2012 under the employee stock purchase plan.