GARMIN LTD — Director's Dealing 2020

Dec 17, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2020-12-15

Reporting Person: PEMBLE CLIFTON A (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-12-15	Registered Shares	F	6773	$119.19	Disposed	130452	Direct
2020-12-15	Registered Shares	A	11805	—	Acquired	142257	Direct
2020-12-16	Registered Shares	S	7398	$118.222	Disposed	134859	Direct
2020-12-16	Registered Shares	S	1096	$118.9544	Disposed	133763	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Registered Shares	255	Indirect

Footnotes

F1: On December 15, 2020, 15,267 shares that were acquired pursuant to previously granted restricted stock unit awards vested and were released to the reporting person. Of those 15,267 shares, 6,773 shares were withheld to pay the resulting tax liability.

F2: Includes 28,362 unvested shares acquired pursuant to previously granted restricted stock unit awards.

F3: On December 15, 2020 the reporting person received a grant of 11,805 restricted stock units, which vest in three equal annual installments, beginning on December 15, 2021.

F4: Includes 40,167 unvested shares acquired pursuant to the December 15, 2020 restricted stock unit award and previously granted restricted stock unit awards.

F5: Pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 2, 2020.

F6: This transaction was executed in multiple trades at prices ranging from $117.74 to $118.72. 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 $118.785 to $119.250. 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.