GARMIN LTD — Director's Dealing 2013

Jun 11, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2013-06-10

Reporting Person: BETTS GENE M (Former Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-06-01	Registered Shares	F	200	$35.31	Disposed	4953	Direct
2013-06-03	Registered Shares	F	250	$35.02	Disposed	4703	Direct
2013-06-07	Registered Shares	F	649	$34.72	Disposed	4054	Direct
2013-06-10	Registered Shares	S	4054	$35.08	Disposed	0	Direct

Footnotes

F1: On June 1, 2013, 802 shares that were acquired by the reporting person pursuant to the award of restricted stock units on June 1, 2012 were paid to the reporting person. 200 of these 802 shares were withheld to pay a resulting tax liability.

F2: The number of shares reported in Row 1, 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) 1,602 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).

F3: On June 3, 2013, 1,000 shares that were acquired by the reporting person pursuant to the award of restricted stock units on June 3, 2011 were paid to the reporting person. 250 of these 1,000 shares were withheld to pay a resulting tax liability.

F4: The number of shares reported in Row 2, Column 5 includes (a) 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) 1,602 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).

F5: On June 7, 2013, 999 unvested shares that were acquired pursuant to the grant of 2,999 restricted stock units on June 3, 2011 and 1,602 unvested shares that were acquired pursuant to the grant of 2,404 restricted stock units on June 1, 2012 were released to the reporting person in accordance with the terms of the Garmin Ltd. 2011 Non-Employee Directors' Equity Incentive Plan. 649 of these 2,601 shares were withheld to pay a resulting tax liability.

F6: This is a weighted average price. The Registered Shares were sold in separate transactions on the same day at prices ranging from $35.07 to $35.10 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.