GARMIN LTD — Director's Dealing 2020

May 26, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2020-05-26

Reporting Person: BURRELL JONATHAN (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-05-26	Registered Shares	G	868000	—	Acquired	3417350	Indirect
2020-05-26	Registered Shares	G	868000	—	Disposed	10864720	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Registered Shares	4381	Direct
Registered Shares	30000	Indirect
Registered Shares	8413050	Indirect

Footnotes

F1: Consists of (a) 648 Registered Shares, and (b) unvested RSUs awarded to the reporting person under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan that can be settled only in Registered Shares, which RSUs consist of: (i) RSUs granted on June 7, 2019 that vest as to 2,004 shares on June 7, 2020; and (ii) RSUs granted on June 8, 2018 that vest as to 865 shares on June 8, 2020, and as to 864 shares on June 8, 2021.

F2: The reporting person is a co-trustee of his mother's revocable trust and is his mother's attorney-in-fact, and also holds a remainder interest in the securities held in such trust. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

F3: The reporting person is a co-trustee of several charitable lead annuity trusts (CLATs) and holds a remainder interest therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

F4: The reporting person is a co-trustee of several grantor retained annuity trusts (GRATs) established by his mother, and he holds a remainder interest therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.