GARMIN LTD — Director's Dealing 2014

Aug 21, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2014-08-20

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-08-20	Registered Shares	M	8000	$19.94	Acquired	42266	Direct
2014-08-20	Registered Shares	S	8000	$57.50	Disposed	34266	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-08-20	Employee stock option (right to buy)	$19.94	M	8000	Disposed	2014-09-23	Registered Shares (8000)	Direct

Footnotes

F1: 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) 2,256 unvested shares acquired pursuant to a grant of 3,760 restricted stock units on December 14, 2011 (the award vests in five annual installments); (d) 2,992 unvested shares acquired pursuant to an award of 4,488 restricted stock units on December 10, 2012 (the award vests in three annual installments); (e) 4,086 unvested shares acquired pursuant to the grant of restricted stock units on December 10, 2013 (the award vests in three equal annual installments); and (f) 366 shares acquired in June 2014 under the Employee Stock Purchase Plan.

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