GARMIN LTD — Director's Dealing 2015

Jun 24, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2015-06-22

Reporting Person: PEMBLE CLIFTON A (President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-06-22	Registered Shares	M	12000	$21.59	Acquired	93565	Direct
2015-06-22	Registered Shares	D	5531	$46.86	Disposed	88034	Direct
2015-06-22	Registered Shares	S	6469	$46.86	Disposed	81565	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-06-22	Stock-Settled Stock Appreciation Right	$21.59	M	12000	Disposed	2015-06-23	Registered Shares (12000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Registered Shares	500	Indirect
Registered Shares	250	Indirect

Footnotes

F1: Includes: (a) 27,558 unvested shares acquired pursuant to previously granted time-based vesting restricted stock unit awards; (b) 153 shares acquired in December 2014 under the Employee Stock Purchase Plan; and (e) 471 shares acquired under dividend reinvestment programs since the reporting peron's last Form 4.

F2: The stock appreciation right vested in five equal annual installments, beginning on June 23, 2006.