GARMIN LTD — Director's Dealing 2020

Jun 9, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2020-06-05

Reporting Person: Peffer Charles (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-06-05	Registered Shares	A	1594	—	Acquired	27174	Direct
2020-06-07	Registered Shares	F	501	$96.53	Disposed	26673	Direct
2020-06-08	Registered Shares	F	216	$99.30	Disposed	26457	Direct

Footnotes

F1: Shares were acquired pursuant to a grant of restricted stock units under the Garmin Ltd. 2011 Non-Employee Directors' Equity Incentive Plan. The award vests on June 5, 2021.

F2: Includes (a) the 1,594 unvested shares acquired pursuant to the grant of the restricted stock unit award described in Footnote 1 and (b) a total of 4,602 additional unvested shares that were acquired pursuant to previously granted restricted stock units awards.

F3: On June 7, 2020, 2,004 shares that were acquired pursuant to an award of restricted stock units on June 7, 2019 vested and were released to the reporting person. Of these 2,004 shares, 501 were withheld to pay a resulting tax liability.

F4: Includes 4,192 unvested shares as of this date that were acquired pursuant to previously granted restricted stock unit awards.

F5: On June 8, 2020, 864 shares that were acquired pursuant to an award of restricted stock units on June 8, 2018 vested and were released to the reporting person. Of these 864 shares, 216 were withheld to pay a resulting tax liability.

F6: Includes 3,328 unvested shares as of this date that were acquired pursuant to previously granted restricted stock unit awards.