GARMIN LTD — Director's Dealing 2013

Dec 10, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2013-12-09

Reporting Person: RAUCKMAN KEVIN (CFO and Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-12-09	Registered Shares	M	20000	$19.94	Acquired	57366	Direct
2013-12-09	Registered Shares	S	20000	$49.50	Disposed	37366	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-12-09	Employee stock option (right to buy)	$19.94	M	20000	Disposed	2014-09-23	Registered Shares (20000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Registered Shares	2850	Indirect
Registered Shares	300	Indirect

Footnotes

F1: Includes (a) 3,999 unvested shares acquired pursuant to an award of 6,665 restricted stock units on December 10, 2010 (the award vests in five annual installments); (b) 2,668 unvested shares acquired pursuant to an award of 6,670 restricted stock units on December 11, 2009 (the award vests in five annual installments); (c) 3,000 unvested shares acquired pursuant to an award of 15,000 restricted stock units on December 12, 2008 (the award vests in five annual installments); (d) 4,296 unvested shares acquired pursuant to a grant of 5,370 restricted stock units on December 14, 2011 (the award vests in five annual installments); (e) 5,127 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) 446 shares acquired by the reporting person under the Employee Stock Purchase Plan in June 2013.

F2: The stock option vested in five equal annual installments beginning on September 23, 2005.