SEC Form 4 · accession 0001121788-15-000024
GARMIN LTD · GRMN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Clifton A Pemble
Officer — President and CEO
Period of report
Dec 14, 2015
Accepted (ET)
Dec 16, 2015 · 3:59 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001121788
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Registered SharesF1,F2 | Dec 14, 2015 | F | 513 | $34.88 | D | 79,358 | D | |
| Registered SharesF2 | Dec 14, 2015 | M | 15,000 | $30.66 | A | 94,358 | D | |
| Registered SharesF2 | Dec 14, 2015 | D | 12,974 | $35.45 | D | 81,384 | D | |
| Registered SharesF2 | Dec 14, 2015 | S | 2,026 | $34.87 | D | 79,358 | D | |
| Registered SharesF3,F4 | Dec 15, 2015 | F | 1,298 | $35.38 | D | 78,060 | D | |
| Registered SharesF5,F6 | Dec 15, 2015 | A | 19,311 | $0.00 | A | 97,371 | D | |
| Registered Shares | holding | — | — | — | 500 | I | By Children | |
| Registered Shares | holding | — | — | — | 250 | I | By trust established for benefit of the reporting person's child |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-settled stock appreciation right | $30.66 | Dec 14, 2015 | M | 15,000 | D | Dec 16, 2008 | Dec 16, 2015 | Registered Shares | 15,000 | 0 | D |
Explanation of responses
- F1On December 14, 2015, 1,611 shares that were acquired by the reporting person pursuant to a previously granted restricted stock units award vested and were paid to the reporting person. Of those 1,611 shares, 513 shares were withheld to pay the resulting tax liability.
- F2Includes 17,080 unvested shares acquired pursuant to previously granted restricted stock unit awards.
- F3On December 15, 2015, 4,078 shares that were acquired by the reporting person pursuant to a previously granted restricted stock units award vested and were paid to the reporting person. Of those 4,078 shares, 1,298 shares were withheld to pay the resulting tax liability.
- F4Includes 13,002 unvested shares acquired pursuant to previously granted restricted stock unit awards.
- F5On December 15, 2015, the reporting person was granted a restricted stock units award, which vests in three equal annual installments, beginning on December 15, 2016.
- F6Includes 32,313 unvested shares acquired pursuant to the December 15, 2015 restricted stock unit award and previously granted restricted stock unit awards.