GARMIN LTD — Director's Dealing 2016

Aug 8, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2016-08-04

Reporting Person: PEMBLE CLIFTON A (President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-08-04	Registered Shares	M	20000	$51.07	Acquired	121218	Direct
2016-08-04	Registered Shares	D	18571	$55.00	Disposed	102647	Direct
2016-08-04	Registered Shares	S	1429	$55.00	Disposed	101218	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-08-04	Stock-settled stock appreciation right	$51.07	M	20000	Disposed	2016-12-05	Registered Shares (20000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Registered Shares	500	Indirect

Footnotes

F1: Includes 32,313 unvested shares acquired pursuant to previously granted restricted stock unit awards, 151 shares acquired in December 2015 under the Garmin Ltd. Employee Stock Purchase Plan, 441 shares acquired in June 2016 under the Garmin Ltd. Employee Stock Purchase Plan, and 2,504 shares acquired by the reporting person under dividend reinvestment programs since the date of the reporting person's last Form 4.

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