GARMIN LTD — Director's Dealing 2018

Nov 29, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2018-11-28

Reporting Person: BURRELL JONATHAN (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-11-28	Registered Shares	G	2117400	—	Acquired	2637470	Indirect
2018-11-28	Registered Shares	G	2117400	—	Disposed	11644600	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Registered Shares	2594	Direct
Registered Shares	30000	Indirect
Registered Shares	8720050	Indirect

Footnotes

F1: Consists of restricted stock units ("RSUs") awarded to the reporting person under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan, which RSUs vest in three equal annual installments beginning on June 8, 2019 and can be settled only in Registered Shares.

F2: The reporting person is a co-trustee of his mother's revocable trust and is his mother's attorney-in-fact, and also holds a remainder interest in the securities held in such trust. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

F3: The reporting person is a co-trustee of several charitable lead annuity trusts (CLATs) and holds a remainder interest therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

F4: The reporting person is a co-trustee of several grantor retained annuity trusts (GRATs) established by his mother, and he holds a remainder interest therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.