GARMIN LTD — Director's Dealing 2023

Dec 19, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2023-12-15

Reporting Person: PEMBLE CLIFTON A (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-12-15	Registered Shares	F	6540	$126.13	Disposed	109089	Direct
2023-12-15	Registered Shares	A	22371	—	Acquired	131460	Direct
2023-12-18	Registered Shares	S	1095	$125.895	Disposed	130365	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Registered Shares	255	Indirect

Footnotes

F1: On December 15, 2023, 14,742 shares that were acquired pursuant to previously granted restricted stock unit awards vested and were released to the reporting person. Of those 14,742 shares, 6,540 shares were withheld to pay the resulting tax liability.

F2: Includes 23,322 unvested shares acquired pursuant to previously granted restricted stock unit awards.

F3: On December 15, 2023 the reporting person received a grant of 22,371 restricted stock units, which vest in three equal annual installments, beginning on December 15, 2024.

F4: Includes 45,693 unvested shares acquired pursuant to the December 15, 2023 restricted stock unit award and previously granted restricted stock unit awards.

F5: Pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 14, 2023.

F6: This transaction was executed in multiple trades at prices ranging from $125.41 to $126.31. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.