GARMIN LTD — Director's Dealing 2019

Feb 27, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2019-02-25

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-02-25	Registered Shares	A	5328	—	Acquired	32442	Direct
2019-02-25	Registered Shares	F	1936	$83.55	Disposed	30506	Direct

Footnotes

F1: Shares acquired pursuant to a restricted stock units award granted in February 2018 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, 2019.

F2: Includes (i) 12,240 unvested shares acquired pursuant to previously granted restricted stock unit awards, (ii) the 5,328 unvested shares acquired pursuant to the restricted stock units award described in Footnote 1 and (iii) 124 shares acquired in December 2018 under the Garmin Ltd. Employee Stock Purchase Plan.

F3: 1,776 shares that were acquired by the reporting person pursuant to the restricted stock units award described in Footnote 1 and 3,286 shares that were acquired by the reporting person pursuant to other previously granted restricted stock unit awards vested and were paid to the reporting person. Of these shares, 1,936 shares were withheld to pay a resulting tax liability.

F4: Includes 8,954 unvested shares acquired pursuant to previously granted restricted stock unit awards and 3,552 remaining unvested shares acquired pursuant to the restricted stock units award described in Footnote 1.