GARMIN LTD — Director's Dealing 2012

Dec 7, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2012-12-06

Reporting Person: Pokorny Brian James (Vice President - Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-12-06	Registered Shares	M	5000	$14.90	Acquired	20207	Direct
2012-12-06	Registered Shares	S	5000	$41.69	Disposed	15207	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-12-06	Stock option (right to buy)	$14.90	M	5000	Disposed	2012-12-26	Registered Shares (5000)	Direct

Footnotes

F1: Includes: (a) 2,668 unvested shares that were acquired pursuant to an award of 3,335 restricted stock units on December 10, 2010 (the award vests in five equal annual installments beginning on December 10, 2011), (b) 1,998 unvested shares that were acquired pursuant to an award of 3,330 restricted stock units on December 11, 2009 (the award vests in five equal annual installments beginning on December 11, 2010), (c) 3,600 unvested shares that were acquired pursuant to an award of 9,000 restricted stock units on December 12, 2008 (the award vests in five equal annual installments beginning on December 12, 2009), (d) 2,685 unvested shares that were acquired pursuant to an award of restricted stock units on December 14, 2011 (the award vests in five equal annual installments beginning on December 14, 2012), and (e) 368 shares that were acquired for the reporting person's account under the Garmin Ltd. Employee Stock Purchase Plan in June 2012.

F2: This is a weighted average price. The Registered Shares were sold in separate transactions on the same day at prices ranging from $41.69 to $41.71 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.