GARMIN LTD — Director's Dealing 2018

Feb 27, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2018-02-25

Reporting Person: Boessen Douglas G. (CFO and Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-02-25	Registered Shares	A	4077	—	Acquired	25485	Direct
2018-02-25	Registered Shares	F	1360	$60.35	Disposed	24125	Direct

Footnotes

F1: Shares acquired pursuant to a restricted stock units award granted in February 2017 that had both performance-based and time-based vesting conditions. The performance-based vesting conditions have been satisfied, and now the award is subject only to time-based vesting conditions. The award vests in three equal annual installments beginning on February 25, 2018.

F2: Includes (i) 12,537 unvested shares acquired pursuant to previously granted restricted stock unit awards, (ii) the 4,077 unvested shares acquired pursuant to the restricted stock units award described in Footnote 1 and (iii) 153 shares acquired in December 2017 under the Garmin Ltd. Employee Stock Purchase Plan.

F3: 1,359 shares that were acquired by the reporting person pursuant to the restricted stock units award described in Footnote 1 and 1,927 shares that were acquired by the reporting person pursuant to another previously granted restricted stock units award vested and were paid to the reporting person. Of these shares, 1,360 shares were withheld to pay a resulting tax liability.

F4: Includes 10,610 unvested shares acquired pursuant to previously granted restricted stock units awards and 2718 remaining unvested shares acquired pursuant to the restricted stock units award described in Footnote 1.