Danny J. Bartel - Feb 21, 2024 Form 4 Insider Report for GARMIN LTD (GRMN)

Role
VP, Worldwide Sales
Signature
/s/ Paul E. Cassat, Attorney-in-Fact
Stock symbol
GRMN
Transactions as of
Feb 21, 2024
Transactions value $
$0
Form type
4
Date filed
2/23/2024, 12:55 PM
Previous filing
Dec 19, 2023
Next filing
Feb 27, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GRMN Registered Shares Award $0 +5.55K +5.45% $0.00 107K Feb 21, 2024 Direct F1, F2
holding GRMN Registered Shares 116K Feb 21, 2024 By 401(k) Plan F3
* 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 2023 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, 2024.
F2 Includes (i) the 5,547 unvested shares acquired pursuant to the restricted stock units award described in Footnote 1, and (ii) 7,154 unvested shares acquired pursuant to other previously granted restricted stock units awards.
F3 Includes 113,427 shares held in the Garmin International, Inc. Retirement Plan that were previously reported as directly held.