GARMIN LTD — Director's Dealing 2017

Nov 22, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2017-11-21

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-11-21	Registered Shares	M	14000	$50.97	Acquired	62922	Direct
2017-11-21	Registered Shares	D	11547	$61.80	Disposed	51375	Direct
2017-11-21	Registered Shares	S	2453	$61.91	Disposed	48922	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-11-21	Stock-settled stock appreciation right	$50.97	M	14000	Disposed	2018-06-06	Registered Shares (14000)	Direct

Footnotes

F1: Includes 14,940 unvested shares acquired pursuant to previously granted restricted stock units awards.

F2: The stock appreciation right vested in five equal annual installments beginning on June 6, 2009.