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: Bartel Danny J (Vice President,Worldwide Sales)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-12-10	Registered Shares	A	4290	—	Acquired	77545	Direct
2013-12-10	Registered Shares	F	841	$49.07	Disposed	76704	Direct
2013-12-11	Registered Shares	F	297	$48.64	Disposed	76407	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Registered Shares	1400	Indirect

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) 1,866 unvested shares acquired pursuant to an award of 4,665 restricted stock units on December 10, 2010 (the award vests in five annual installments); (b) 1,868 unvested shares acquired pursuant to an award of 4,670 restricted stock units on December 11, 2009 (the award vests in five annual installments); (c) 2,400 unvested shares acquired pursuant to an award of 12,000 restricted stock units on December 12, 2008 (the award vests in five annual installments); (d) 1,504 unvested shares acquired pursuant to a grant of 3,760 restricted stock units on December 14, 2011 (the award vests in five annual installments); (e) 3,418 unvested shares acquired pursuant to an award of 5,127 restricted stock units on December 10, 2012 (the award vests in five annual installments); and (f) 4,290 unvested shares acquired pursuant to the grant of restricted shares described in Footnote 1.

F3: On December 10, 2013, 933 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. 297 of these 933 shares were withheld to pay the resulting tax liability. Also on December 10, 2013, 1,709 shares that were acquired by the reporting person pursuant to the award of restricted stock units in December 2013 described in Footnote 2 vested and were paid to the reporting person. 544 of these 1,709 shares were withheld to pay the resulting tax liability.

F4: On December 11, 2013, 934 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. 297 of these 934 shares were withheld to pay the resulting tax liability.

F5: Includes (a) 1,866 unvested shares acquired pursuant to an award of 4,665 restricted stock units on December 10, 2010 (the award vests in five annual installments); (b) 934 unvested shares acquired pursuant to an award of 4,670 restricted stock units on December 11, 2009 (the award vests in five annual installments); (c) 2,400 unvested shares acquired pursuant to an award of 12,000 restricted stock units on December 12, 2008 (the award vests in five annual installments); (d) 1,504 unvested shares acquired pursuant to a grant of 3,760 restricted stock units on December 14, 2011 (the award vests in five annual installments); (e) 3,418 unvested shares acquired pursuant to an award of 5,127 restricted stock units on December 10, 2012 (the award vests in five annual installments); and (f) 4,290 unvested shares acquired pursuant to the grant of restricted shares described in Footnote 1.