GARMIN LTD — Director's Dealing 2019

Aug 15, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2019-08-15

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-08-15	Registered Shares	G	2000000	—	Disposed	1566120	Indirect
2019-08-15	Registered Shares	G	2000000	—	Acquired	12715950	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Registered Shares	4381	Direct
Registered Shares	30000	Indirect
Registered Shares	8413050	Indirect

Footnotes

F1: Consists of (a) 648 Registered Shares, and (b) unvested RSUs awarded to the reporting person under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan that can be settled only in Registered Shares, which RSUs consist of (i) RSUs granted on June 7, 2019 that vest as to 2,004 shares on June 7, 2020, and (ii) RSUs granted on June 8, 2018 that vest as to 865 shares on June 8, 2020, and as to 864 shares on June 8, 2021.

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.