GARMIN LTD — Director's Dealing 2019

Aug 2, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2019-07-31

Reporting Person: KAO MIN H (Director, Executive Chairman, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-07-31	Registered Shares	S	27660	$78.4786	Disposed	16746732	Indirect
2019-07-31	Registered Shares	S	68335	$79.0041	Disposed	16678397	Indirect
2019-07-31	Registered Shares	S	17049	$80.039	Disposed	16661348	Indirect
2019-07-31	Registered Shares	S	13019	$81.0661	Disposed	16648329	Indirect
2019-07-31	Registered Shares	S	1175	$82.0262	Disposed	16647154	Indirect
2019-07-31	Registered Shares	S	1316	$83.2814	Disposed	16645838	Indirect
2019-07-31	Registered Shares	S	82980	$78.4786	Disposed	16562858	Indirect
2019-07-31	Registered Shares	S	205006	$79.0041	Disposed	16357852	Indirect
2019-07-31	Registered Shares	S	51146	$80.039	Disposed	16306706	Indirect
2019-07-31	Registered Shares	S	39057	$81.066	Disposed	16267649	Indirect
2019-07-31	Registered Shares	S	3525	$82.0262	Disposed	16264124	Indirect
2019-07-31	Registered Shares	S	3949	$83.2816	Disposed	16260175	Indirect
2019-07-31	Registered Shares	G	20000	—	Disposed	1779429	Direct
2019-07-31	Registered Shares	G	20000	—	Disposed	4810324	Indirect
2019-08-01	Registered Shares	S	13983	$77.5665	Disposed	16246192	Indirect
2019-08-01	Registered Shares	S	850	$78.4003	Disposed	16245342	Indirect
2019-08-01	Registered Shares	S	201644	$76.7454	Disposed	16043698	Indirect
2019-08-01	Registered Shares	S	41951	$77.5665	Disposed	16001747	Indirect
2019-08-01	Registered Shares	S	2550	$78.4003	Disposed	15999197	Indirect
2019-08-01	Registered Shares	S	67215	$76.7454	Disposed	15931982	Indirect

Footnotes

F1: Sale of shares pursuant to a Rule 10b5-1 trading plan adopted on June 12, 2019.

F2: This transaction was executed in multiple trades at prices ranging from $77.63 to $78.62. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

F3: This transaction was executed in multiple trades at prices ranging from $78.63 to $79.61. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

F4: This transaction was executed in multiple trades at prices ranging from $79.63 to $80.62. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

F5: This transaction was executed in multiple trades at prices ranging from $80.63 to $81.62. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

F6: This transaction was executed in multiple trades at prices ranging from $81.63 to $82.18. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

F7: This transaction was executed in multiple trades at prices ranging from $83.25 to $83.85. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

F8: This transaction was executed in multiple trades at prices ranging from $77.63 to $78.62. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

F9: This transaction was executed in multiple trades at prices ranging from $78.63 to $79.61. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

F10: This transaction was executed in multiple trades at prices ranging from $79.63 to $80.62. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

F11: This transaction was executed in multiple trades at prices ranging from $80.63 to $81.62. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

F12: This transaction was executed in multiple trades at prices ranging from $81.63 to $82.18. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

F13: This transaction was executed in multiple trades at prices ranging from $83.25 to $83.85. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

F14: Shares were gifted to a charitable organization.

F15: The reporting person disclaims beneficial ownership of these shares, and the filing of this report is not an admission that the reporting person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.

F16: This transaction was executed in multiple trades at prices ranging from $77.20 to $78.17. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

F17: This transaction was executed in multiple trades at prices ranging from $78.32 to $78.59. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

F18: This transaction was executed in multiple trades at prices ranging from $76.20 to $77.19. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

F19: This transaction was executed in multiple trades at prices ranging from $77.20 to $78.17. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

F20: This transaction was executed in multiple trades at prices ranging from $78.32 to $78.59. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.

F21: This transaction was executed in multiple trades at prices ranging from $76.20 to $77.19. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.