GARMIN LTD — Director's Dealing 2014

Dec 17, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2014-12-15

Reporting Person: Boessen Douglas G. (CFO and Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-12-15	Registered Shares	A	3954	—	Acquired	3954	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-12-15	Stock appreciation rights	$52.44	M	12680	Acquired	2025-12-15	Registered Shares (12680)	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 on December 15, 2015.

F2: Consists of the 3,954 unvested shares acquired pursuant to the award of restricted stock units described in Footnote 1 of this Form 4.

F3: The award vests in five equal annual installments, beginning on December 15, 2015.