GARMIN LTD — Director's Dealing 2023

Feb 28, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2023-02-25

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-02-25	Registered Shares	F	5754	$98.30	Disposed	127676	Direct
2023-02-27	Registered Shares	S	6127	$98.4025	Disposed	121549	Direct
2023-02-27	Registered Shares	S	1089	$99.298	Disposed	120460	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Registered Shares	255	Indirect

Footnotes

F1: 12,970 shares that were acquired by the reporting person pursuant to previously granted restricted stock unit awards vested and were paid to the reporting person. Of these shares, 5,754 shares were withheld to pay a resulting tax liability.

F2: Includes (i) 38,064 unvested shares acquired pursuant to previously granted restricted stock unit awards and (ii) 72 shares acquired in December 2022 under the Garmin Ltd. Employee Stock Purchase Plan.

F3: Pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 4, 2022

F4: This transaction was executed in multiple trades at prices ranging from $98.04 to $98.995. 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.

F5: This transaction was executed in multiple trades at prices ranging from $99.04 to $99.46. 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.