GARMIN LTD — Director's Dealing 2013

Dec 12, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2013-12-10

Reporting Person: Biddlecombe Sean (Managing Director, EMEA)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-12-10	Registered Shares	A	1227	—	Acquired	13712	Direct
2013-12-10	Registered Shares	F	356	$49.07	Disposed	13356	Direct
2013-12-11	Registered Shares	F	148	$48.64	Disposed	13208	Direct

Footnotes

F1: Shares were acquired pursuant to a grant of restricted stock units under the Garmin Ltd. Equity Incentive Plan. The award vests in three equal annual installments beginning in December 2014.

F2: Includes (a) 666 unvested shares acquired pursuant to an award of 1,665 restricted stock units on December 10, 2010 (the award vests in five annual installments); (b) 632 unvested shares acquired pursuant to an award of 1,580 restricted stock units on December 11, 2009 (the award vests in five annual installments); (c) 750 unvested shares acquired pursuant to an award of 3,750 restricted stock units on December 12, 2008 (the award vests in five annual installments); (d) 1,072 unvested shares acquired pursuant to a grant of 1,340 restricted stock units on December 14, 2011 (the award vests in five annual installments); (e) 854 unvested shares acquired pursuant to an award of 1,281 restricted stock units on December 10, 2012 (the award vests in five annual installments); and (f) 1,227 unvested shares acquired pursuant to the grant of restricted shares described in Footnote 1.

F3: On December 10, 2013, 333 shares that were acquired by the reporting person pursuant to the award of restricted stock units in December 2010 described in Footnote 2 vested and were paid to the reporting person. 156 of these 333 shares were withheld to pay the resulting tax liability. Also on December 10, 2013, 427 shares that were acquired by the reporting person pursuant to the award of restricted stock units in December 2012 described in Footnote 2 vested and were paid to the reporting person. 200 of these 427 shares were withheld to pay the resulting tax liability.

F4: On December 11, 2013, 316 shares that were acquired by the reporting person pursuant to the award of restricted stock units in December 2009 described in Footnote 2 vested and were paid to the reporting person. 148 of these 316 shares were withheld to pay the resulting tax liability.

F5: Includes (a) 666 unvested shares acquired pursuant to an award of 1,665 restricted stock units on December 10, 2010 (the award vests in five annual installments); (b) 316 unvested shares acquired pursuant to an award of 1,580 restricted stock units on December 11, 2009 (the award vests in five annual installments); (c) 750 unvested shares acquired pursuant to an award of 3,750 restricted stock units on December 12, 2008 (the award vests in five annual installments); (d) 1,072 unvested shares acquired pursuant to a grant of 1,340 restricted stock units on December 14, 2011 (the award vests in five annual installments); (e) 854 unvested shares acquired pursuant to an award of 1,281 restricted stock units on December 10, 2012 (the award vests in five annual installments); and (f) 1,227 unvested shares acquired pursuant to the grant of restricted shares described in Footnote 1.