SEC Form 4 · accession 0001121788-16-000065
GARMIN LTD · GRMN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Andrew R Etkind
Officer — VP, General Counsel, Secretary
Period of report
Dec 14, 2016
Accepted (ET)
Dec 16, 2016 · 4:16 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, 2016 | F | 60 | $49.75 | D | 48,180 | D | |
| Registered SharesF3,F4 | Dec 15, 2016 | F | 191 | $49.42 | D | 47,989 | D | |
| Registered SharesF5,F6 | Dec 15, 2016 | A | 4,611 | $0.00 | A | 52,600 | D | |
| Registered SharesF7,F6 | Dec 16, 2016 | S | 2,116 | $49.55 | D | 50,484 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On December 14, 2016 1,074 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 1,074 shares, 60 shares were withheld to pay a resulting tax liability.
- F2Includes 8,876 unvested shares acquired pursuant to previously granted restricted stock unit awards.
- F3On December 15, 2016 3,398 shares that were acquired by the reporting person pursuant to previously granted restricted stock units awards vested and were paid to the reporting person. Of those 3,398 shares, 191 shares were withheld to pay a resulting tax liability.
- F4Includes 5,478 unvested shares acquired pursuant to previously granted restricted stock unit awards.
- F5On December 15, 2016, the reporting person received a grant of 4,611 restricted stock units, which vest in three equal annual installments, beginning on December 15, 2017.
- F6Includes 10,089 unvested shares acquired pursuant to the December 15, 2016 grant of restricted stock units award and previously granted restricted stock unit awards.
- F7The reporting person sold these shares to fund the additional tax liabilities resulting from receiving the shares that were released to him upon vesting of the restricted stock units awards in December 2016.