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: Straub Philip (VP, Man. Director - Aviation)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-12-10	Registered Shares	A	4086	—	Acquired	35609	Direct
2013-12-10	Registered Shares	F	730	$49.07	Disposed	34960	Direct
2013-12-11	Registered Shares	F	254	$48.64	Disposed	34706	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) 1,600 unvested shares acquired pursuant to an award of 4,000 restricted stock units on December 10, 2010 (the award vests in five annual installments); (b) 1,600 unvested shares acquired pursuant to an award of 4,000 restricted stock units on December 11, 2009 (the award vests in five annual installments); (c) 2,000 unvested shares acquired pursuant to an award of 10,000 restricted stock units on December 12, 2008 (the award vests in five annual installments); (d) 3,008 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) 2,992 unvested shares acquired pursuant to an award of 4,488 restricted stock units on December 10, 2012 (the award vests in five annual installments); (f) 4,086 unvested shares acquired pursuant to the grant of restricted shares described in Footnote 1; and (g) 707 shares acquired in December 2012 and June 2013 under the Employee Stock Purchase Plan.

F3: On December 10, 2013, 800 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. 254 of these 800 shares were withheld to pay the resulting tax liability. Also on December 10, 2013, 1,496 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. 476 of these 1,496 shares were withheld to pay the resulting tax liability.

F4: On December 11, 2013, 800 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. 254 of these 800 shares were withheld to pay the resulting tax liability.

F5: Includes (a) 1,600 unvested shares acquired pursuant to an award of 4,000 restricted stock units on December 10, 2010 (the award vests in five annual installments); (b) 800 unvested shares acquired pursuant to an award of 4,000 restricted stock units on December 11, 2009 (the award vests in five annual installments); (c) 2,000 unvested shares acquired pursuant to an award of 10,000 restricted stock units on December 12, 2008 (the award vests in five annual installments); (d) 3,008 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) 2,992 unvested shares acquired pursuant to an award of 4,488 restricted stock units on December 10, 2012 (the award vests in five annual installments); and (f) 4,086 unvested shares acquired pursuant to the grant of restricted shares described in Footnote 1.