GARMIN LTD — Director's Dealing 2013

May 23, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2013-05-22

Reporting Person: ELLER DONALD (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-05-22	Registered Shares	M	2432	$24.68	Acquired	7585	Direct
2013-05-22	Registered Shares	S	2432	$36.71	Disposed	5153	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-05-22	Stock option (right to buy)	$24.68	M	2432	Disposed	2013-06-09	Registered Shares (2432)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Registered Shares	500000	Indirect

Footnotes

F1: The number of shares reported in Column 5 includes (a) 1,999 unvested shares that were acquired pursuant to the grant of 2,999 restricted stock units on June 3, 2011 (the award vests in three equal annual installments beginning on June 3, 2012), and (b) 2,404 unvested shares that were acquired pursuant to the grant of 2,404 restricted stock units on June 1, 2012 (the award vests in three equal annual installments beginning on June 1, 2013).

F2: The stock option vested in three equal annual installments beginning on June 9, 2004.