GARMIN LTD — Director's Dealing 2023

Jun 13, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2023-06-09

Reporting Person: BURRELL JONATHAN (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-06-09	Registered Shares	A	1501	—	Acquired	8428	Direct
2023-06-10	Registered Shares	F	376	$105.34	Disposed	8052	Direct
2023-06-12	Registered Shares	G	132600	—	Acquired	162600	Indirect
2023-06-12	Registered Shares	G	132600	—	Disposed	167400	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Registered Shares	0	Indirect
Registered Shares	9355549	Indirect
Registered Shares	8047147	Indirect
Registered Shares	773834	Indirect
Registered Shares	394478	Indirect

Footnotes

F1: Shares acquired pursuant to a grant of restricted stock units under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan. The award vests on June 9, 2024.

F2: Includes the 1,501 unvested shares acquired pursuant to the grant of restricted stock unit award described in Footnote 1 and 1,502 unvested shares acquired pursuant to a previously granted restricted stock unit award.

F3: 1,502 shares that were acquired pursuant to an award of restricted stock units on June 10, 2022 vested and were released to the reporting person. Of these 1,502 shares, 376 were withheld to pay a resulting tax liability.

F4: Includes the 1,501 unvested shares acquired pursuant to the grant of restricted stock unit award described in Footnote 1.

F5: 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.

F6: 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.

F7: 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.

F8: The reporting person is a co-trustee of a GRAT remainder trust established for his benefit.

F9: The reporting person is the manager of several limited liability companies that are wholly-owned by a GRAT remainder trust established for the reporting person's benefit.

F10: The reporting person is a co-trustee of multiple grantor retained annuity trusts (GRATs) established by him, and his children hold the remainder interests therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.