Clifton A. Pemble - Feb 16, 2022 Form 4 Insider Report for GARMIN LTD (GRMN)

Role
President and CEO, Director
Signature
/s/ Joshua H. Maxfield, Attorney-in-Fact
Stock symbol
GRMN
Transactions as of
Feb 16, 2022
Transactions value $
$0
Form type
4
Date filed
2/18/2022, 04:49 PM
Previous filing
Dec 17, 2021
Next filing
Mar 1, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GRMN Registered Shares Award $0 +17.5K +11.54% $0.00 169K Feb 16, 2022 Direct F1, F2
holding GRMN Registered Shares 255 Feb 16, 2022 By Child
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares acquired pursuant to a restricted stock units award granted in February 2021 that had both performance-based and time-based vesting conditions. The performance-based vesting conditions have been satisfied, and now the award is subject only to time-based vesting conditions. The award vests in three equal annual installments beginning on February 25, 2022.
F2 Includes (i) the 17,492 unvested shares acquired pursuant to the restricted stock units award described in Footnote 1, (ii) 43,010 unvested shares acquired pursuant to other previously granted restricted stock units awards, and (iii) 81 shares acquired in December 2021 under the Garmin Ltd. Employee Stock Purchase Plan.