GARMIN LTD — Director's Dealing 2016

Aug 23, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2016-08-19

Reporting Person: Bartel Danny J (VP, Worldwide Sales)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-08-19	Registered Shares	M	12500	$51.07	Acquired	172611	Direct
2016-08-19	Registered Shares	D	11714	$54.50	Disposed	160897	Direct
2016-08-19	Registered Shares	S	786	$54.53	Disposed	160111	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-08-19	Stock-settled stock appreciation right	$51.07	M	12500	Disposed	2016-12-05	Registered shares (12500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Registered Shares	1400	Indirect

Footnotes

F1: Includes 11,058 unvested shares acquired pursuant to previously awarded restricted stock units, 679 shares acquired by the reporting person in June 2016 under the Garmin Ltd. Employee Stock Purchase Plan, and shares acquired pursuant to regularly scheduled purchases and dividend reinvestments in the reporting person's account in the Garmin International, Inc. Retirement Plan since the reporting person's last Form 4.

F2: The stock appreciation right vested over five equal annual installments, beginning on December 5, 2007.