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: ETKIND ANDREW R (VP, General Counsel, Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-12-15	Registered Shares	F	1315	$119.19	Disposed	57410	Direct
2020-12-15	Registered Shares	A	2406	—	Acquired	59816	Direct

Footnotes

F1: On December 15, 2020, 3,638 shares that were acquired pursuant to previously granted restricted stock unit awards vested and were released to the reporting person. Of those 3,638 shares, 1,315 shares were withheld to pay the resulting tax liability.

F2: Includes 8,016 unvested shares acquired pursuant to previously granted restricted stock unit awards and 41 shares acquired by the reporting person in June 2020 under the Garmin Ltd. Employee Stock Purchase Plan.

F3: On December 15, 2020 the reporting person received a grant of 2,406 restricted stock units, which vest in three equal annual installments, beginning on December 15, 2021.

F4: Includes 10,422 unvested shares acquired pursuant to the December 15, 2020 restricted stock unit award and previously granted restricted stock unit awards.