Peffer Charles Form 4 GARMIN / Charles Peffer 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^*

Peffer Charles

(Last) (First) (Middle)

5424 MOHAWK

(Street)

FAIRWAY KS 66205

(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
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/05/2018

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	06/05/2018		F		250(1)	D	$61.69	22,177(2)	D
Registered Shares	06/08/2018		A		2,594(3)	A	$0	24,771(4)	D
Registered Shares	06/09/2018		F		218(5)	D	$61.85	24,553(6)	D
Registered Shares	06/10/2018		F		271(7)	D	$61.85	24,282(8)	D

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 June 5, 2018, 1,000 shares that were acquired pursuant to an award of restricted stock units on June 5, 2015 vested and were released to the reporting person. Of these 1,000 shares, 250 were withheld to pay a resulting tax liability.

2. Includes 4,772 unvested shares as of this date that were acquired pursuant to previously granted restricted stock unit awards.

3. Shares were acquired pursuant to a grant of restricted stock units under the Garmin Ltd. 2011 Non-Employee Directors' Equity Incentive Plan. The award vests in three equal annual installments beginning on June 8, 2019.

4. Includes (a) the 2,594 unvested shares that were acquired pursuant to the grant of the restricted stock unit award described in Footnote 3 and (b) a total of 4,772 additional unvested shares that were acquired pursuant to previously granted restricted stock units awards.

5. On June 9, 2018, 870 shares that were acquired pursuant to an award of restricted stock units on June 9, 2017 vested and were released to the reporting person. Of these 870 shares, 218 were withheld to pay a resulting tax liability.

6. Includes 6,496 unvested shares as of this date that were acquired pursuant to previously granted restricted stock unit awards.

7. On June 10, 2018, 1,082 shares that were acquired pursuant to an award of restricted stock units on June 10, 2016 vested and were released to the reporting person. Of these 1,082 shares, 271 were withheld to pay a resulting tax liability.

8. Includes 5,414 unvested shares as of this date that were acquired pursuant to previously granted restricted stock unit awards.

	By Andrew R. Etkind, Attorney-in-Fact	06/11/2018
	** 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).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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