GARMIN LTD — Director's Dealing 2020

Feb 27, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2020-02-25

Reporting Person: Bartel Danny J (VP, Worldwide Sales)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-25	Registered Shares	A	3900	—	Acquired	186517	Direct
2020-02-25	Registered Shares	F	1349	$92.00	Disposed	185168	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Registered Shares	1400	Indirect

Footnotes

F1: Shares acquired pursuant to a restricted stock units award granted in February 2019 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, 2020.

F2: Includes 11,361 unvested shares acquired pursuant to previously granted restricted stock units awards and the 3,900 unvested shares acquired pursuant to the restricted stock units award described in Footnote 1.

F3: 1,300 shares that were acquired by the reporting person pursuant to the restricted stock units award described in Footnote 1 and 3,262 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, 1,349 shares were withheld to pay a resulting tax liability.

F4: Includes 8,099 unvested shares acquired pursuant to previously granted restricted stock unit awards and 2,600 remaining unvested shares acquired pursuant to the restricted stock units award described in Footnote 1.