Jonathan Burrell - 25 May 2021 Form 4 Insider Report for GARMIN LTD (GRMN)

Role: Director, 10%+ Owner
Signature: /s/Jonathan Burrell
Issuer symbol: GRMN
Transactions as of: 25 May 2021
Net transactions value: $0
Form type: 4
Filing time: 25 May 2021, 16:15:41 UTC
Previous filing: 24 May 2021
Next filing: 27 May 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GRMN	Registered Shares	Gift	$0	+630,000	+43%	$0.000000	2,098,151	25 May 2021	By trust	F2
transaction	GRMN	Registered Shares	Gift	$0	-630,000	-5.7%	$0.000000	10,489,020	25 May 2021	By GRATs	F4
holding	GRMN	Registered Shares						5,258	25 May 2021	Direct	F1
holding	GRMN	Registered Shares						30,000	25 May 2021	By trust
holding	GRMN	Registered Shares						8,948,049	25 May 2021	By CLATs	F3
holding	GRMN	Registered Shares						288,158	25 May 2021	By trust	F5
holding	GRMN	Registered Shares						43,478	25 May 2021	By LLC	F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Consists of (a) 2,799 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 5, 2020 that vest as to 1,594 shares on June 5, 2021; and (ii) RSUs granted on June 8, 2018 that vest as to 865 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.
F5	The reporting person is a co-trustee of a GRAT remainder trust established for his benefit.
F6	The reporting person is the manager of a limited liability company, which is wholly-owned by a GRAT remainder trust established for the reporting person's benefit.