Garmin (GRMN) Form 4 GARMIN / CLIFTON A PEMBLE ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

PEMBLE CLIFTON A

(Last) (First) (Middle)

1200 E. 151ST ST.

(Street)

OLATHE KS 66062

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GARMIN LTD [ GRMN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2024

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Registered Shares	12/15/2024		F		8,102(1)	D	$215.4	134,402(2)	D
Registered Shares	12/15/2024		A		13,821(3)	A	$0	148,223(4)	D
Registered Shares	12/16/2024		S(5)		5,452	D	$216.0208(6)	142,771(4)	D
Registered Shares	12/16/2024		S(5)		3,494	D	$216.6489(7)	139,277(4)	D
Registered Shares	12/16/2024		S(5)		864	D	$218.4801(8)	138,413(4)	D
Registered Shares	12/16/2024		S(5)		238	D	$219.6711(9)	138,175(4)	D
Registered Shares	12/16/2024		S(5)		114	D	$220.22	138,061(4)	D
Registered Shares								255	I	By Child

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. On December 15, 2024, 18,264 shares that were acquired pursuant to previously granted restricted stock unit awards vested and were released to the reporting person. Of those 18,264 shares, 8,102 shares were withheld to pay the resulting tax liability.

2. Includes 47,482 unvested shares acquired pursuant to previously granted restricted stock unit awards.

3. On December 15, 2024 the reporting person received a grant of 13,821 restricted stock units, which vest in three equal annual installments, beginning on December 15, 2025.

4. Includes 61,303 unvested shares acquired pursuant to the December 15, 2024 restricted stock unit award and previously granted restricted stock unit awards.

5. Pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 1, 2024.

6. This transaction was executed in multiple trades at prices ranging from $215.30 to $216.28. 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.

7. This transaction was executed in multiple trades at prices ranging from $216.31 to $217.15. 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.

8. This transaction was executed in multiple trades at prices ranging from $218.02 to $218.92. 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.

9. This transaction was executed in multiple trades at prices ranging from $219.165 to $219.86. 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.

	/s/ Paul E. Cassat, as attorney-in-fact for Clifton A. Pemble	12/17/2024
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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