Clifton A. Pemble - Nov 15, 2023 Form 4 Insider Report for GARMIN LTD (GRMN)

Role: President and CEO, Director
Signature: /s/ Paul E. Cassat, Attorney-in-Fact
Stock symbol: GRMN
Transactions as of: Nov 15, 2023
Transactions value $: -$600,000
Form type: 4
Date filed: 11/15/2023, 05:44 PM
Previous filing: Feb 28, 2023
Next filing: Dec 19, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GRMN	Registered Shares	Sale	-$600K	-5K	-4.14%	$120.00	116K	Nov 15, 2023	Direct	F1
holding	GRMN	Registered Shares						255	Nov 15, 2023	By Child

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

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id	Content
F1	Includes (i) 38,064 unvested shares acquired pursuant to previously granted restricted stock unit awards and (ii) 169 shares acquired in June 2023 under the Garmin Ltd. Employee Stock Purchase Plan.

Remarks:

Transaction made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 14, 2023.